TORONTO, Oct. 2, 2012 /CNW/ - Renewable Energy Management Inc. (REM), an Ontario based company in the conversion of waste into clean renewable energy through low temperature gasification, has advanced its plans to build and operate facilities across Canada, commencing in Ontario, with investments from two green technology based funds.
President and CEO Dr. Daniel A. Kaute made the announcement this week after completion of a debt and equity transaction with Grand River Green Power (GRGP). Additionally, on September 13th, 2012 completed a brokered private placement with Macquarie Private Wealth Inc.
"The total amount of funds puts REM firmly on course to respond the Government of Ontario's challenge to create innovative green energy sources for the province, and develop its first site in Ontario," said Dr. Kaute. "We believe this round of investment gives us the resources required to step up and help meet the provincial goal of creating energy from waste."
Grand River Green Power is an Aboriginal company based at Six Nations of the Grand River Territory in southern Ontario and is Canada's largest First Nation. "Our objective is to find and invest in innovative green energy projects that meet our longstanding desire to find harmony between people and the environment. After studying the technology , getting to know the REM team and meeting with the Government of Ontario, we are convinced that both have the best interests of the environment and the people of Ontario in mind," said Lewis Staats, President of GRGP.
In 2009, the Government of Ontario issued a directive to create energy from waste (EFW) that serves the dual purpose of diverting solid waste from landfills and creating power for the provincial grid. The policy change, led by the Minister of Energy, helps create permanent solutions for municipal waste by alleviating the need for landfill sites. This policy encourages innovative technologies to dispose of garbage that provide ancillary benefits to communities where they are situated.
About REM Canada Inc.
REM Canada Inc. has formed a joint venture with ENTECH-Renewable Energy Solutions Pty Ltd, Australia, a global leader in energy from waste with more than 150 green energy facilities located in Australia, Asia, and Europe. ENTECH-REM offers a full sustainable solution for waste management with diversion from landfill by up to 100% as well as embedded power generation into the LDC or transmission grid systems and distributed thermal energy within the local community where the ENTECH-REM facilities are located. They have identified sites across the province and are in discussion with communities who are eager to host this innovative technology and waste solution. REM Canada Inc.'s Head Office is located in Pickering, Ontario.
SOURCE: Renewable Energy Management Inc.
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