New Green Technologies Enters Bid For Wood Waste To Energy Project
TAMPA, Fla.--(BUSINESS WIRE)--New Green Technologies, Inc., (OTCBB:NGRN) announces that it has entered a bid to turn wood waste into energy via its CAVD technology in Alberta, Canada.
NGRN and Green Energy Solutions, Inc. (GES), have entered into a joint venture to establish a large scale project on First Nation land in Edmonton, Alberta, Canada. This site was selected as it contains a primary stockpile of over 250,000 tons of construction debris primarily containing wood waste which will be the main feedstock for use in the CAVD technology. The bid process is being funded by Alberta Energy. The bid is for a full feasibility study to use the Catalytic Activated Vacuum Distillation (CAVD) pyrolisis gasification process owned by NGRN, to the waste into oil and gas, and potentially use a plasma system, which New Green also has in its inventory. The joint venture would use combined resources to complete the feasibility study, and to source funding for the full commercial plant and operations for the project.
GES and New Green proposed to initiate a full feasibility study for the project, under a bid solicitation from Alberta Energy. If found acceptable, the CAVD operation could support a 200 ton a day plant for years off the existing stockpile, and perpetually with new waste being brought in. The plant would be modular and be able to be set up at different locations if necessary. The system has been proven in numerous feedstocks, such as tires, carpet waste, bio-waste, and was found to be emissions friendly.
The project will encompass modular CAVD technology in a large plant to reduce the volume of the stockpiled construction debris, and if necessary, NGRN's plasma system to convert any hazardous materials remaining in the concentrated waste to cleaner burning gas. The system will be studied to use the recovered oil and gas for electrical production, using commercially available power generation systems, which NGRN has identified, or reciprocating engines. Material remaining after gasification will undergo plasma pyrolisis, which also creates a combustible gas for electrical production.
About New Green Technologies, Inc.
New Green Technologies, Inc. (OTCBB:NGRN) is currently focused on using its newly acquired technology to move forward in the bio-fuel and waste flow industries. With revolutionary technology, the Company can now make significant impact in the newly emerging bio-fuel and other waste industries. New Green Technologies' new technology is the Catalytic Activated Vacuum Distillation (CAVD) system which is an exclusively patented technology which allows waste products, such as DDG, carpet waste, algae, citrus waste, tobacco waste, municipal waste, and others, to be converted into a bio-fuel and gas. The Company has also acquired a plasma arc to energy technology along with a patented technology using waste water, fluid or gas flows to create electricity. NGRN's unique hydro technology is under control of EU partners for market entry.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of NGRN officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future NGRN actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and NGRN has no specific intention to update these statements.
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