SAN DIEGO, Sept. 10, 2012 (GLOBE NEWSWIRE) -- VelaTel Global Communications (OTCQB:VELA), a leader in deploying and operating wireless broadband and telecommunication networks worldwide, announced today that Mr. Luo Hongye, the CEO of its subsidiary VN Technologies, will participate in an invitation-only meeting on September 21, 2012 in Beijing hosted by the China Communications Standards Association (CCSA). VN Tech is a leader in developing hydrogen fuel cell green energy technology, and is a 75% subsidiary of VelaTel.
The theme of the meeting is "Exploring New Technologies of Fuel Cell Power System in the Communications Industry." Attendees include R&D representatives of telecommunications providers, equipment manufacturers, security and technology experts, and government regulators. The goal of the meeting is to exchange ideas and develop the framework for implementing a single detailed industry standard for hydrogen fuel cell power systems across the communications industry in China. The meeting provides a forum for Mr. Luo to educate other industry leaders on the advanced nature, stability and reliability of VN Tech's product, as well as its production, R & D, engineering design, and ease of operation and maintenance.
"We are very pleased with the rapid progress we've made so far in this exciting arena," said George Alvarez, VelaTel's CEO. "Our successful initial field trials in March through June 2012 for China Mobile and follow up trials now under way for China Telecom present the opportunity for VN Tech to become the market leader of hydrogen fuel cell technology in China as early as Q4 2012."
"China is quickly adopting green energy as the industry standard, especially in the area of communications," added VelaTel's President, Colin Tay. "With VN Tech on the forefront of this multi-billion dollar movement, VelaTel is in an extremely strong position to reap the rewards."
"It is no secret that Mr. Luo is a well respected leader in the Chinese telecom industry," remarked Alvarez. "But to be invited to exhibit our product to Chinese decision makers demonstrates just how valuable an asset he is to our team."
About VelaTel Global Communications, Inc.
VelaTel acquires spectrum assets through acquisition or joint venture relationships, and provides capital, engineering, architectural and construction services related to the build-out of wireless broadband telecommunications networks, which it then operates by offering services attractive to residential, enterprise and government subscribers. VelaTel currently focuses on emerging markets where internet penetration rate is low relative to the capacity of incumbent operators to provide comparable cutting edge services, and/or where the entry cost to acquire spectrum is low relative to projected subscribers. VelaTel currently has project operations in People's Republic of China and Peru. Additional target markets include countries in Latin America, the Caribbean, Southeast Asia and Eastern Europe. VelaTel's administrative headquarters are in San Diego, California. For more information, please visit www.velatel.com.
The VelaTel Global Communications logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13404
Safe Harbor
This press release may contain forward-looking statements that involve risks and uncertainties. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.