WOODBRIDGE, ON, Aug. 12 /CNW/ - Organic Resource Management Inc. (TSX-V: ORI) ("ORMI" or "the Company"), today announced that it has acquired a property in Woodstock, Ontario. The facility is favourably located near two major 400-series provincial highways and includes a 10,000 square foot building and five acres of land. Financing for the property was provided through a commercial mortgage from the Royal Bank of Canada.
"We believe the acquisition of this facility in Woodstock will provide us with a strong presence in southwestern Ontario, a territory that is currently being serviced primarily by sub-contractors," said Charles Buehler, CEO of ORMI. "We have initiated the facility design and permitting process and plan to commission this facility and bring it online early in 2011. It is ideally located to function not only as a traditional grease trap hub depot, but also as an Organic Residuals Recovery System (ORRS) food-waste recycling transfer station. This would provide us with an opportunity to explore the potentially very large underserved food-waste recycling market in southwestern Ontario."
About Organic Residuals Recovery System (ORRS)
ORRS is ORMI's patent-protected process which converts solid food residuals into an ideal, high-energy liquid feedstock to be used by ORMI's network of farm-based Anaerobic Digesters (ADs) for production of biogas renewable energy. The ORRS transfer station will function as a centralized facility to receive and process food-waste collected from Industrial, Commercial and Institutional (IC&I) generators by ORMI as well as third-party haulers. ORMI's network of ADs then convert the feedstock into environmentally friendly crop nutrients and renewable biogas energy, which is used to generate electricity and heat. The electricity is sold to the Ontario Power Authority through the Ontario FIT program.
About Organic Resource Management Inc.
Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals. ORMI services in excess of 6,500 regular scheduled industrial, commercial and institutional customers across Canada. Further information about ORMI may be obtained at the Company's web site at www.ormi.com.
Note: Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties. 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.
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SOURCE Organic Resource Management Inc.
For further information: For further information: Organic Resource Management Inc.: Charles Buehler, Chairman and CEO, Tel: 416-580-8574, Email: firstname.lastname@example.org, Website: www.ormi.com; The Equicom Group: James Smith, Investor Relations, Tel: 416-815-0700 ext. 229, Email: email@example.com