Commonwealth of Pennsylvania's Department of Environmental Protection Approves Plan
CALGARY, April 2 /CNW/ - Immersive Media Corp. (TSXV: IMC) ("Immersive Media" or "IMC") announced that Future Power PA Inc. ("FPPI") received approval of plans submitted in accordance with the Commonwealth of Pennsylvania's provisions of the Air Pollution Control Act, the Act of January 8, 1960, P.L. 2119, as amended, and 25 Pa. Code Chapter 127. Detailed engineering work specific to the site is expected to commence shortly.
Throughout 2009 FPPI's Good Spring IGCC plant applied for all requisite approvals for this power project. The approvals allow the next phase of engineering to begin. More importantly, this final decision is seen as a milestone towards energy independence, job creation, and climate improvement.
FPPI's President James Palumbo commented, "Global use of coal as an energy source continues to rise and the opportunity before us is to drastically improve how clean it can be. Seeing a large and lengthy process like this conclude as a win for all the stakeholders is very satisfying. We thank the local community, engineers, regulators, elected representatives, elected senators, and investors who spent considerable time and resources to make this day happen."
"The Good Spring IGCC facility will be one of the most environmentally clean IGCC plants in the world," said Raj Suri, CEO of Future Fuels. "It is very exciting to extend the boundaries of what one may think of in terms of the best available control technology."
Good Spring IGCC strives to become an industry-leading electricity generation plant using anthracite or similar feedstock and having carbon capture capabilities along with record setting lows in emissions of particulates and climate impacting gasses per megawatt of power created. With its own 55 million tons of feedstock on site, Good Spring IGCC is capable of lower cost operations and avoiding sourcing of fuel from distant or mountaintop removal locations.
FPPI is a joint venture between Future Fuels LLC of Houston, Texas and Immersive Media Corp. of Calgary, Alberta, Canada.
About Future Fuels: Houston-based Future Fuels LLC develops 21st century coal gasification projects around the world. It holds land, coal reserves, technology licenses and other project related assets. Future Fuels is the controlling shareholder and chief developer of Good Spring IGCC, a state-of-the-art electricity plant with carbon dioxide sequestration capabilities. For more information, visit www.futurefuelsllc.com.
About Immersive Media Corp.
IMC is the leading provider of 360-degree, full-motion, interactive video experiences. Its one-of-a-kind geodesic camera and full production services - including rental equipment, training, filming, post-production and distribution options - create high-resolution, immersive video for a variety of uses. From mapping and exploration to monitoring and surveillance to branding and entertainment, Immersive Media customers and agents produce the deepest, most engaging video experiences possible.
IMC is investing in companies in the growing green technology industry and has made strategic investments in Future Power PA Inc. (FPPI) and T3 Motion.
FPPI is a joint venture of Future Fuels LLC of Houston, Texas and Immersive Media Corp. FPPI is an independent power company engaged in the development, construction, ownership and operation of IGCC facilities which convert coal to liquid energy sources which can be sold or used for electricity generation and sales. FPPI's business is to develop, own and operate state-of-the-art IGCC clean coal technology power projects in the United States in close proximity to major power grids and coal supplies.
T3 Motion specializes in cost-effective, clean-technology vehicle solutions for professional markets including law enforcement, security, retail, government and the military. T3 Motion is dedicated to raising the bar on vehicle environmental standards and green energy solutions. The foundation of T3 Motion vehicles is the company's proprietary power management technology that maximizes range and minimizes recharging time.
For more information please visit www.immersivemedia.com
Safe Harbor for Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements under applicable securities laws, and Immersive Media Corp. intends that such forward-looking statements be subject to the safe harbor created thereby. Forward-looking statements are subject to numerous assumptions and risks and should not be unduly relied upon as IMC can provide no assurance that the expectations contained in such forward-looking statements will materialize as anticipated or at all. Immersive Media Corp. does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE IMMERSIVE MEDIA CORP.
For further information: For further information: David G. Anderson, Investor Relations, Tel: (866) 333-8817