TSX Symbol: ORI
Ensures customer's organic waste conversion to renewable energy
WOODBRIDGE, ON, Sept. 30 /CNW/ - Organic Resource Management Inc.
("ORMI") today announced that it has signed an exclusive, 20-year agreement to
supply organic residuals to a farm-based Anaerobic Digester ("AD") at
Clearydale Farms ("Clearydale") located near Spencerville, Ontario. This is
the fourth Ontario dairy-farm-based AD to contract with ORMI to receive
off-farm organic residuals for conversion into energy.
During the term of the agreement, ORMI will deliver a minimum of 5,000
cubic metres per year of organic residuals. ORMI will pay a processing cost
("Tip Fee") that will be adjusted downward based on the actual performance of
biogas renewable energy produced from the ORMI feedstock. The resulting net
Tip Fee is expected to be significantly more competitive than other organic
residual recycling options currently available.
The 1,500 cubic metre AD is scheduled to be producing renewable biogas
energy in the summer of 2009. Once fully functional, the AD is expected to
generate about 500 kW, 24 hours per day, 7 days per week - enough energy to
supply roughly 400 households. Clearydale will be energy self-sufficient and
sell electricity to the Hydro One distribution grid under the Ontario Power
Authority's Renewable Energy Standard Offer Program. The Cleary AD will be
integrated into their 300 animal unit dairy farm operation. ORMI's
high-energy-potential organic residual feedstock will generate in excess of
75% of the energy produced.
"ORMI has an impressive customer service dispatch system dedicated to
efficiently serving their customers while harvesting these organic residuals
for our farm AD," said Douglas Cleary, who with his wife Mary Whalen and three
sons Conor, Samuel and Aiden and two daughters Bridget and Fiona are the 7th
generation operating Clearydale since 1845. ORMI harvests high-energy organic
residuals from their urban customer base, processes it into clean,
concentrated feedstock at their facilities and delivers it to ADs on a
consistent schedule. "ORMI's trucks and drivers are just as clean and
efficient as the milk collection truck that services my farm. I am sure that
ORMI's professionalism will be an added benefit for my farm," added Cleary.
"We are pleased to make another Ontario dairy farm AD project viable
through our unique feedstock supply program," said Charles Buehler, Chairman &
CEO of ORMI. "We now have AD process capacity to begin generating
approximately 2 MW of clean renewable energy within a year. ORMI is embarking
upon a new era by assuring our growing customer base the long term security of
100% residuals recovery through partnerships with these four Ontario dairy
farms." ORMI's four contracted farms reliably produce 8 million litres of milk
annually for Ontarians. "They will just as reliably convert our feedstocks
into renewable energy," concluded Buehler.
This press release is available on the Company's official on-line
investor relations site. For investor commentary, feedback and questions,
please visit the investor relations section of the Company's website at
http://www.ormi.com/ir/index.php. Alternatively, investors are asked to e-mail
all questions and correspondence to firstname.lastname@example.org where they can also request
addition to the Organic Resource investor e-mail list to receive all future
press releases and updates directly.
About Organic Resource Management Inc.
Organic Resource Management (TSX Symbol: ORI) is Canada's largest
provider of vacuum truck services for the collection, treatment and disposal
of organic and other non-hazardous liquid waste. ORMI services in excess of
8,000 commercial, industrial, institutional and residential customers in
Ontario, Quebec, and British Columbia. Further information about ORMI may be
obtained at the Company's web site: www.ormi.com.
Cautionary Note: Certain information contained in this press release is
forward-looking and therefore subject to unknown risks or uncertainties. The
AD expansion, and thereby the resulting cost savings announced herein, are
reliant on many factors that are not under the Company's control, including
but not limited to various regulatory requirements and technical factors. The
actual results, performance or achievements of Organic Resource Management
Inc. may differ materially from the results, performance or achievements of
the Company expressed or implied by such forward-looking statements.
For further information:
For further information: Corporate Inquiries: Charles H. Buehler,
Chairman & Chief Executive Officer, email@example.com, (905) 264-7700 Ext. 112