VANCOUVER, March 10 /CNW/ - Free Energy International Inc. (TSXV: FFX)
(formerly Fairfax Capital Inc.) is pleased to announce that a Letter of Intent
has been executed with EnEco Industries Ltd. to enter into a formal agreement
utilizing EnEco's technology to develop a municipal solid waste (MSW)
recycling and biomass conversion facility, located near Prescott Arizona, that
will utilize Free Energy's patented thermal superconductor technology to
generate electricity for sale to the Arizona Power Grid. The proposed
installation will be carried out by the Company's wholly owned subsidiary,
Free Energy Solutions Inc., subject to Free Energy International Inc.
acquiring acceptable funding for the $13,000,000 project and final agreements.
Free Energy is excited to work with EnEco and both parties are looking forward
to development of this project and the potential for similar projects.
The project is a big win for the environment as it uses EnEco's state of
the art gasification technology to convert municipal solid waste and biomass
to clean energy with little or no emissions and allows for the recovery of all
metal and glass in its original form in order to preserve the ecological
footprint formed when each can or bottle was made. This process does produce
large amounts of heat. Free Energy, utilizing its thermal superconductor
technology moves this heat to an electrical generating plant. Initial
engineering indicates that the facility can dispose of in excess of 100 tons
of waste per day while creating 3 megawatts of electricity. Additionally,
Free Energy has developed technology that can use the excess heat to capture
water from the air. This water is potable and can be used for irrigation or,
with minor secondary filtration, as clean drinking water.
About Free Energy International Inc. (Formerly Fairfax Capital Inc.)
Free Energy International Inc. is a British Columbia corporation with its
head office in Vancouver, British Columbia. The Company is listed on the
TSX Venture Exchange as a Tier 2 company. The Company has a total of
12,636,453 common shares issued and outstanding, of which 7,056,000 shares are
subject to escrow arrangements.
Additional information on Free Energy and Fairfax may be found in the
Information Circular for the 2007 annual and special general meeting of
Fairfax shareholders, which is posted on SEDAR at www.sedar.com.
About Free Energy Solutions Inc.
Free Energy is a British Columbia corporation in the renewable energy
sector. Free Energy is a 100% subsidiary of Free Energy International Inc. Its
principal business is developing innovative technologies for the heating and
cooling industry based on a new class of thermal superconductors now becoming
available on the world market. Its head office and principal place of business
is located in Richmond, British Columbia.
Free Energy is in the process of developing a high efficiency condenser
that can be used in commercial refrigeration applications, a seawater heat
exchanger for large commercial air conditioning systems, and a simple heat
exchanger that can be installed in the ground to act as a heat source or heat
sink for conventional residential heating and air conditioning systems.
Prototypes of its geoheating and geocooling units have already been developed.
Information on the technology can be viewed at the Free Energy website at
About EnEco Industries Ltd.
EnEco is a British Columbia corporation incorporated in 1991. EnEco has
developed and commercialized proprietary gasification technology able to
process unsorted municipal solid waste. The process converts the biomass
fraction of municipal solid waste at low temperatures to syngas, leaving
aluminum cans, bottles, copper wire, etc. in the original state (i.e., not
melted or slagged) in order to allow highest value and lowest environmental
impact recycling. Syngas is completely decomposed in a second process and
generates a great deal of heat in the process. This heat is used to create
power. EnEco's CORE and TOPS technology allow one hundred percent diversion of
municipal solid waste and sewage sludge from landfill. Information about
EnEco's capabilities may be found at their website: ( www.eneco.ca )
ON BEHALF OF THE BOARD OF DIRECTORS OF FREE ENERGY INTERNATIONAL INC.
Alf Sanderson, President
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. The statements made in this release may
contain forward-looking statements or statements relating to matters that
involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.
For further information:
For further information: please contact the Company by phone at (604)
657-5638 or by email email@example.com