CALGARY, March 14, 2013 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear" or the "Company") is pleased to announce its subsidiary, Future Power PA Inc. ("FPPI"), has begun the process of obtaining equity financing for the 330 MW
natural gas combined cycle ("NGCC") electricity power plant (the "Project") in Good Spring, Pennsylvania.
Being developed within the largest electricity market in the United
States, the Project benefits from the expanding production and
infrastructure for natural gas in the local Marcellus Shale area.
Recently issued emission requirements have resulted in a trend to
de-commission older and smaller coal based power plants in the
Project's geography. This positions the Project to be more competitive
and to capture the maximum amount of energy revenue possible.
EmberClear plans to utilize the latest high efficiency turbines and the
abundant mine water for maximum operating output. The beneficial use of
the acid mine water improves local streams and watersheds. Further
configuration and resource optimization has increased the total
facility's production by 10% to 330 MW. The conclusion of the equity
financing process is a necessary step towards construction and delivery
of power by 2016.
"EmberClear expects the Good Spring NGCC 1 Power Plant to be one of the
most efficient generators in the market allowing high utilization and
the best possible pricing premiums," stated Nick Cohen, Chief Operating
Officer. "We are pleased to see the market respond so positively to our
When construction begins for Good Spring NGCC 1, it could employ
approximately 500 workers for two years, culminating in dozens of
full-time positions for plant operations. The economic impact to the
surrounding area is expected to be more than $1 billion over 15 years.
EmberClear is a global energy development company specializing in
low-emission energy projects. The Company is primarily focussed on
natural gas in the United States as an input to create electricity,
industrial chemicals and transportation fuels. We utilize our proven
expertise in permitting, site-control, and engineering feasibility to
create turnkey projects with contracted returns suitable for long-term
owners and operators of long-life capital assets. EmberClear's shares
are listed on the TSX Venture Exchange under the trading symbol "EMB".
For more information please visit www.emberclear.com.
Forward-Looking Statement Disclaimer
Certain statements contained in this document constitute forward-looking
statements or information (collectively "forward-looking statements")
within the meaning of applicable securities legislation.
Forward-looking statements are typically identified by words such as
"anticipate", "continue", "estimate", "expect", "forecast", "may",
"will", "project", "could", "plan", "intend", "should", "believe",
"outlook", "potential", "target", "seek", "budget", "predict", "might"
and similar words suggesting future events or future performance. All
statements other than statements of historical fact may be
forward-looking statements. In particular, this document contains
forward-looking statements pertaining to, without limitation, the
following: our intention and ability to finance, construct, and secure
long term off-take contracts for power and gas supply for the natural
gas combined cycle ("NGCC") plant or other energy projects on the
property which would economically create power from natural gas; to
obtain and maintain permits; to build state of the art power facilities
with maximum operating efficiency; the decommissioning of coal based
power plants; and demand for energy. With respect to forward-looking
statements contained in this document, we have made assumptions
regarding, among other things, the following: the economic viability of
a the NGCC project; the decommissioning of older, smaller coal based
power plants; the economic impact on the region; estimates of
employment opportunities; growing production and infrastructure for
natural gas in the local Marcellus Shale area; access to natural gas
and water supplies; the economic viability of a NGCC project; natural
gas pricing; favourable market conditions for natural gas power plants;
positive trends in capital markets for natural gas projects; stable
investment conditions in North America; maximizing value of the natural
gas project for shareholders; the benefit of site proximity to natural
gas supply, pricing and access to markets; attracting appropriate
financial participants; and the timing of construction. Although we
believe that the expectations reflected in the forward-looking
statements contained in this document, and the assumptions on which
such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers
are cautioned not to place undue reliance on forward-looking statements
included in this document, as there can be no assurance that the plans,
intentions or expectations upon which the forward-looking statements
are based will occur. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and uncertainties
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur, which
may cause our actual performance and financial results in future
periods to differ materially from any estimates or projections of
future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among other things, the following: the possibility that EmberClear will
not have the financial or other resources to develop, construct or
operate a NGCC power plant or other project; the possibility that
EmberClear will not be able to take advantage of the market trends such
as the availability and price of natural gas and electricity pricing.
Readers are cautioned that this list of risk factors should not be
construed as exhaustive. The forward-looking statements contained in
this document speak only as of the date of this document. Except as
expressly required by applicable securities laws, we do not undertake
any obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. The forward-looking statements contained in this document
are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: EmberClear Corp.
For further information:
David G. Anderson
+1 (403) 264-8817