VANCOUVER, April 22 /CNW/ - NASS VALLEY GATEWAY LTD, (the "Company" or "NVG"), is pleased to announce the signing of an agreement with 7510446 Canada Inc.("CI"),which gives the Company and its prospective subsidiary, an option to acquire 50% interest in the exclusive importation and distribution of the patented QES2000 Systems and all QES2000 System production technology through a 50% undivided interest in a joint venture with CI (the "JV"). NVG will be the general operator and exclusive distributor for the JV within Canada for the purpose of marketing and selling QES2000 Systems and all QES2000 Plants as well as the numerous marketable products derived from the conversion process.
The QES2000 System Technology is a leading edge Pyrolysis Energy Conversion and Waste Disposal System to convert organic waste to fuel oil and other valuable by-products such as carbon black, activated carbon and fertilizers. It is uniquely designed to answer the challenges of waste management of municipal solid waste, and petrochemical compounds while providing quality recycled-content products and usable forms of power. This revolutionary green technology reduces CO2 emissions and sequesters the carbon. It combines the thermal pyrolysis, steam pyrolysis, fast pyrolysis, and a patented two stage process into one system, incorporating the best attributes of all these processes.
Under the terms of the agreement, NVG will establish joint ventures with other enterprises and/or communities to operate the QES2000 Plants and will set up an effective operating and distribution team. The Company will initiate funding for the first QES2000 Plant in Canada and will announce shortly its financing plans.
This transaction is subject to the completion of a technical due diligence exercise and regulatory approval.
Mr. Mel Stevens, President and Mr. Dieter Peter, Chairman and CEO stated "We are thrilled about this exciting technological opportunity that provides cutting edge waste management solutions to our environmental challenges, and to be able to release this great "green" news on Earth Day. In addition to its contribution to environmentally responsible waste management, NVG will also be positioned to generate revenues and sustainable employment through pursuit of its business and extending its joint venture activities".
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SOURCE Nass Valley Gateway Ltd.
For further information: For further information: Mel Stevens, President, Telephone: (250) 621-3286; Dieter Peter, Chairman & CEO, Telephone: (604) 685-4170