TORONTO, Nov. 9 /CNW/ - Pristine Power Inc. (TSX: PPX) ("Pristine" or the "Company"), an independent Canadian developer and operator of electricity and steam generation facilities, today announced that it has commenced commercial operations at its East Windsor Cogeneration Centre (EWCC), located in Windsor, Ontario.
"We are delighted to announce the completion of the East Windsor Cogeneration Centre" said Jeff Myers, president and CEO of Pristine Power Inc. "This modern facility will provide long-term, reliable and clean energy to over 80,000 homes in the province of Ontario and, steam sales to Ford Motor Company of Canada (Ford)." The facility uses natural gas to produce both electricity and steam, and through the utilization of advanced combustion control technology, minimizes emissions to levels significantly below coal and older oil and gas fired power plants in Ontario
EWCC is an 84 MW cogeneration facility constructed by AECON Industrial, a division of AECON Construction Group Inc., and located adjacent to Ford's engine assembly plant in Windsor, Ontario. In October 2006, EWCC entered into a 20-year Combined Heat and Power Contract with Ontario Power Authority to sell electricity to the Ontario power market. In addition, EWCC entered into a five-year process steam supply agreement with Ford, renewable for one year terms to a maximum total term of 30 years. Pristine owns 25% of EWCC, and is the Manager of plant operations.
"Completion of the EWCC within the financial parameters established in 2006 is an achievement that validates Pristine's business model and speaks to the experience and dedication of the team," said Myers. "We will continue to build shareholder value by focusing on winning financially sound, clean energy power generating mandates in North America. I want to thank the City of Windsor for their cooperation and diligent work on this Project. Windsor is a great place to do business, and we look forward to a productive long term relationship in the City of Roses." Myers also stated, "the EWCC is dedicated to being a good neighbour and has committed a $300,000 Sustainability Fund for use in the surrounding community by the Ford City Redevelopment Committee."
"The East Windsor Cogeneration Centre has significant benefits for our community," said Windsor Mayor Eddie Francis. "It adds long term efficiencies to Ford of Canada's Windsor operations and its power and heat generation technology is in line with our city's need for environmentally friendly industrial facilities. The City of Windsor was pleased to support the East Windsor Cogeneration Centre leading up to the commencement of operations today."
Pristine (TSX: PPX) is in the business of developing, owning and operating independent power plants that produce and sell electricity and in some cases, sell process steam to industrial users. Pristine capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective and environmentally responsible power generation facilities utilizing technology with proven past performance. Pristine pursues a mix of large gas-fired, bioenergy and hydroelectric projects, and smaller replicable waste heat recovery ERG(R) and bioenergy projects. Pristine currently has three projects in operation, and two under contract and in advanced development. Pristine is developing projects in strategic regions of North America. Visit www.pristinepower.ca for more information.
Cautionary Statement Regarding Forward-Looking Information
Certain statements in this news release may constitute "forward-looking information" or "forward-looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this news release, such information uses such words as "estimates", "expects", "plans", "anticipates" and other similar terminology. This information reflects the Company's current expectations regarding future events, including the development, construction and operation of the Kleana project. Forward-looking information involves significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information. Although the forward-looking information in this news release is based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with this forward-looking information. This forward-looking information is provided as of the date of this news release, and, subject to applicable securities laws, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
SOURCE PRISTINE POWER INC.
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