Florida company to acquire Crypto

NUELECTRIC CORP, a Florida-based company involved in identifying and developing energy conservation and environmental technologies, has signed a letter of intent to acquire Zorax Inc and its exclusive worldwide licence to manufacture and market a proprietary process technology that improves the extraction of Cryptosporidium and Giardia from drinking water.

A merger agreement is scheduled to be signed by July 31 this year after corporate review and approval.

Zorax recently acquired the licence to the technology developed by CJ Shiff and TK Graczyk at Johns Hopkins University for the extraction and identification of waterborne parasites. Laurie Scala, president of NuElectric, said that Zorax had funded a sponsored research programme at the Johns...

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