PHI Group Partners with Aquarius Power to Provide Breakthrough Renewable Energy Technology to Vietnam

PHI Group Partners with Aquarius Power to Provide Breakthrough Renewable
Energy Technology to Vietnam

PHI Group, Inc., (www.phiglobal.com) (OTCQB:PHIL), a company focused on
mergers and acquisitions and investments in natural resources, energy,
agriculture and special situations, announced today that it has signed a
Memorandum of Understanding ("MOU") with Aquarius Power, Inc. ("AQP"), a
Texas company, to provide renewable energy technology to Vietnam. PHI has
also made an investment to become a strategic shareholder of AQP and will
continue making additional investments in the near future.

PHI and AQP will form a joint venture company which will have the exclusive
right to sublicense, sell, build, own and/or operate the AQP energy systems
in Vietnam on an exclusive basis.

PHI will be responsible for: Obtaining all necessary approvals to build, own
and operate AQuarius Energy System; Securing a binding and acceptable power
purchase agreement (PPA) from the governmental authority; Providing the land
for the Aquarius Energy System; Providing the construction and civil
engineering know-how to build the energy pools; Providing management,
engineering and operational manpower to build and operate the AQuarius
Engineering System; and Providing the interconnection of the AQuarius Energy
System to the national grid.

AQP's responsibilities include: Support PHI in obtaining the Power Purchase
Agreement; Conduct a site survey and provide blueprints for a tailor made
Energy System; Provide technical support for the construction and operation
of the Energy System (Includes training for construction, installation and
operations); Build, Ship, the AQuarius Energy System(s); and Install and
commission the AQuarius Energy System as required.

AQuarius Wave Energy System is a land-based wave energy system that uses a
combination of gravity and "buoyancy" found within the interaction between
air and water to produce power that can be used to generate electricity and
/ or produce potable water. AQuarius is a baseload zero carbon footprint
that uses no consumables and can be installed virtually anywhere on the
planet that is cost effective against any fossil fuel alternatives. The
system, which can be built turn-key within 6 months of obtaining permits,
has an operating life of over 60 years and is clean, scalable, reliable, and
extremely flexible. Its operating cost is comparably low as hydroelectric
systems.

Robert Schuster, Founder and CEO of AQP, stated, "We are excited to work
with the PHI Group to bring the amazing technology to Vietnam. We believe
we can bring affordable baseload renewable energy to the rural areas as well
as the urban areas throughout Vietnam."

Henry Fahman, CEO of PHI Group, said, "We are delighted to cooperate with
AQP and look forward to first installing this breakthrough technology for
the 100-MW power plant project in Yen Bai Province, Northern Vietnam. We
also plan to apply it for other projects in the near future."

At current electricity price levels in Vietnam, projected average annual
revenues and EBITDA during the first 9 years of operation for the power
plant in Yen Bai are $101 million and $80 million, respectively.

On another note, PHI Group has recently investigated other innovative,
breakthrough technologies including water conditioning systems for
agriculture and human consumption, biopesticides, nano-curcumin extraction,
and polymer-based building materials, etc. that are environmentally
friendly, cost-saving, yield-enhancing and capable of greatly improving the
quality of life. The Company expects to introduce a number of these
technologies for business applications in the near future.

About PHI Group

PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions
and invests in select industries and special situations that may
substantially enhance shareholder value. PHI Group also provides M&A and
consulting services through its wholly owned subsidiary, PHI Capital
Holdings, Inc. (www.phicapitalholdings.com)

About AQuarius

AQuarius Power Inc. (AQP), a Texas Corporation, was created for the purpose
of developing and licensing certain revolutionary technologies with the
potential to provide clean, baseload energy technologies.

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

Link to Original Article:
http://www.nasdaq.com/press-release/phi-group-partners-with-aquarius-power-t
o-provide-breakthrough-renewable-energy-technology-to-20170810-00879

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com