Item 8.01. OTHER EVENTS

H-Hybrid Technologies, Inc., a subsidiary of UTEK Corporation (AMEX & LSE-AIM:
UTK), was acquired by World Energy Solutions, Inc., in a tax-free stock-for-stock exchange. World Energy Solutions, Inc. issued 100,000 unregistered shares of Series C Convertible Preferred Stock to UTEK Corporation in exchange for the issued and outstanding shares of H-Hybrid Technologies, Inc. The shares acquired in the exchange are restricted and may only be resold pursuant to the requirements of the Securities Act of 1933. The value of the consideration will be determined based on a valuation in accordance with UTEK's valuation policy as of the closing date of the transaction.

H-Hybrid Technologies contains the pending trademarked H-Hybrid™ designation as well as a worldwide exclusive license for a new automotive fuel additive that may significantly increase fuel economy and efficiency while decreasing polluting emissions for use in OEM (original equipment manufacturing) in a standard gasoline automobile design.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(a) Not applicable.

(b) Not applicable

(c) Not applicable

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