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CALGARY, Jan. 28, 2014 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that it has successfully commissioned the Westinghouse Plasma torch systems and participated in the recent Grand Opening of an incinerator ash vitrification facility (the "Facility") constructed by GTS Energy in Shanghai, China. The facility is co-located with Shanghai Environmental, a subsidiary of large, state-owned enterprise Shanghai Chengtou Holding Co. Ltd., who operates businesses that transport domestic wastes to landfills and incinerators. The recent Grand Opening of the Facility was well attended by local media, environmental groups, interested incineration and other industrial companies, as well as government officials.
According to Dean Mao, Deputy General Manager of GTS Energy, "GTS has successfully commissioned the plasma torch systems with the support of Alter NRG. The success of the torch commissioning was a very important, key step in the success of the project. The project has been well received in China and was highlighted at the World Environmental Protection Exposition held in Beijing in July 2013. Since that event the project has generated significant interest in China and we believe the project will establish a new way for solid waste treatment in China."
In China and many other countries, incinerator ash is considered a hazardous waste which is a growing, expensive problem that requires special treatment which can cost up to $USD300 per tonne. The Westinghouse Plasma Technology is able to treat the ash, turning the majority of it into a benign glass-like slag that can be used in other industries such as construction. The plasma gasifier can increase incinerator facility revenues by taking other high tipping fee feedstocks such as medical and hazardous waste as well as creating additional syngas or steam which increases the electrical output.
Walter Howard, Chief Executive Officer of Alter NRG states that "this is a significant reference Facility that opens up immediate market opportunities in China and rest of the world. Alter NRG retains the worldwide IP and distribution rights for a solution that improves the economics of incinerators, as well as reducing their environmental footprint. With the increasing regulations and scrutiny on incineration emissions, we believe that this will be a significant market opportunity as we provide an economical solution to the existing 3,000 or more incinerators worldwide."
ABOUT ALTER NRG
Alter NRG provides alternative energy solutions to meet the growing demand for environmentally responsible and economically viable energy in world markets. Alter NRG's primary objective is to further commercialize the Westinghouse Plasma Gasification Technology, through its wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and provide a wide variety of energy outputs - including liquid fuels like ethanol and diesel, electrical power, and syngas.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and statements" within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, this new release contains forward looking statements pertaining to the demand for the product, the future market applicability, and the overall effectiveness of the application. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management's current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, many of which are beyond the control of the Company. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects; failure of the proposed project to proceed to completion, arrangements with key suppliers; potential product liability and other claims; risks associated with the proprietary technology; closing on grants and incentive's; changes in government regulation, including changes to environmental regulations; and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading "Risk Factors" in the Company's Annual Information Form dated March 27, 2013 available at www.sedar.com. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.
The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.
SOURCE: Alter NRG Corp.
For further information:
Walter Howard, Chief Executive Officer
(403) 806-3877 [email protected]
Daniel Hay, Chief Financial Officer
(403) 214-4235 [email protected]