Plasco to Sign Major Agreement During China State Visit

OTTAWA, June 23 /CNW Telbec/ - China Energy Conservation and Environmental Protection Group (CECEP) and Plasco Energy Group have announced that they will be signing an agreement to establish a Joint Venture corporation, CECEP-Plasco China Corp, tomorrow during China's state visit to Canada.

CECEP Plasco China will be based in China and jointly owned by the two companies. Plasco will provide its world leading Plasco Conversion System technology to be delivered in China only through this Joint Venture. CECEP agrees that CECEP and its subsidiaries will use the Plasco Conversion System for development in China of projects to recover energy from waste. "We can make a big difference in cutting global warming causing gasses from landfill in the world's fastest growing economy with one of the largest populations on earth through this partnership," said Plasco CEO Rod Bryden. "This technology, developed right here in Ottawa, can help communities all around the world to handle waste and contribute to our green energy future starting right now."

China currently landfills more than 160 million tonnes of MSW per year with the amount growing due to the urbanization and rapid economic development of the country.

"The opportunity presented by this joint venture between CECEP and Plasco Energy Group is truly exciting for both companies," said Wang Xiaokang, President of CECEP. "Soon, not only Ottawa and Beijing, but communities across all of China will handle their municipal waste in the most environmentally friendly way, producing clean, reliable energy and usable materials. Garbage will truly become a resource rather than a waste."

China Energy Conservation and Environmental Protection Group, referred to as CECEP, established in 1988 in response to the second oil crisis. Since its establishment, CECEP has been working to promote energy saving and environmental protection technology and projects. It is responsible for the investment of RMB 23 billion yuan in national energy conservation capital construction projects, brings more than RMB 30 billion yuan local investment, promotes 13 major categories, and accomplished more than 3,000 major projects.

CECEP is a state-owned enterprise, which is fully sponsored and owned by the central government. The corporation has 172 wholly owned and holding subsidiaries with over 30,000 employees. CECEP is the strongest, largest and most competitive industry group in the field of energy conservation and environmental protection in China.

SOURCE Plasco Energy Group

For further information: For further information: Plasco Energy Group, Andrea Foottit, (613) 591-9438 ext. 1225, Manager, Marketing

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