Swiss Billionaire Takes Strategic Stake In Icon Queensland Boat Builder

Swiss Billionaire Takes Strategic Stake in Icon Queensland Boat Builder

Iconic Australian Motor Yacht brand, Cresta Motor Yachts Limited, is pleased to announce that Swiss based company 'Silicon Fire AG' has taken a significant and strategic stake in the Company. This Exclusive Relationship will see Cresta, in conjunction with Silicon Fire, initially develop a number of world first motor yachts, specifically employing carbon neutral, silicon-based methanol powered engines. These world class vessels will be launched at a series of Clean Fuel Events in Australia in 2011/12.

Cresta's in-house naval architects will begin working in conjunction with Silicon Fire AG, to produce the range of motor yachts that will showcase Silicon Fire's flagship models in South East Asia and Australia for their alternative methanol fuel.

The incorporation of Silicon-based methanol powered engines creates a revolutionary energy carrier, providing a drastically reduced carbon footprint, as silicon-based methanol is carbon dioxide neutral. Silicon Fire has developed a process to synthesize the liquid combustible fuel, which is envisioned as a viable substitute to petrol. Silicon Fire is already a proven technology where recent tests in Italy astounded onlookers with the 16 metre purpose built Silicon Fire vessel achieving supreme performance and a top speed of 70 knots.

Cresta Motor Yachts, renowned for its leading edge design and very high quality motor yacht production was identified through a global search by Silicon Fire AG as the ideal boat building partner to design and manufacture these vessels.

The evolving partnership has also seen Silicon Fire's Founder, Dr Peter Grauer join the Board of Cresta

IN COMMENTING ON THIS BOAT BUILDING PARTNERSHIP, ADRIAN BALLINTINE, PRESIDENT, CRESTA MOTOR YACHTS, SAID,

"This is a very exciting chapter in the evolution of Cresta Motor Yachts. We are delighted to be involved in a project which supports and promotes eco friendly vessels of a world class standard."

IN COMMENTING ON THE PARTNERSHIP BETWEEN SILICON FIRE AND CRESTA, DR PETER GRAUER, FOUNDER, SILICON FIRE, SAID,

"We immediately recognised that Cresta would be an ideal partner for us in our ambition to develop and launch a series of vessels with eco friendly and superior silicon-based methanol powered engines. This is an exciting endeavor and Silicon Fire is pleased to be leading the move into alternative energy carrier based vessels."

FOR FURTHER INFORMATION VISIT WWW.CRESTAMOTORYACHTS.COM.AU OR CONTACT
ROD NORTH
BOURSE COMMUNICATIONS
(03) 9510 8309
0408 670 706

SOURCE: Cresta Motor Yachts