Date: April 12, 2010
Source: Plasco Energy Group
Plasco announces agreement with Beijing
Plasco Energy Group CEO Roderick M. Bryden announced today a memorandum of understanding (MOU) between Plasco Energy Group Inc and Beijing Environmental Sanitation Engineering Group Co (BESG). "This agreement with BESG follows very constructive technical discussions which were held in Beijing between Plasco and the Beijing Municipal Administration Commission (BMAC) and represents a significant commitment for cooperation between Beijing and Plasco," Mr. Bryden said.
The MOU commits BESG and Plasco to work cooperatively towards a definitive agreement by May 30th of this year for delivery of a Plasco Conversion Facility to BESG. The facility will be constructed and operated by Plasco at a Beijing site to be provided by BESG.
The MOU expresses the intention to construct a demonstration facility of at least 200 tonnes per day with the intention of building a larger 1,000 tonne-per-day facility. The decision to move ahead with the larger facility will occur after one month of operation of the demonstration facility, and will be based on its performance.
BESG is an enterprise owned by the City of Beijing with responsibilities which include managing the City's municipal solid waste. Currently Beijing delivers approximately 18,000 tonnes per day of MSW to landfill. The City has established a priority on improving the environmental, social and economic impact of the growing volume of MSW. Beijing currently has a population of more than 20 million people and is growing rapidly.
"This is an outstanding opportunity for Plasco to develop a relationship with BMAC and BESG. Successful operation of this facility will open immense market opportunities in Beijing and in many other communities in China. There is no question that the visit by Mayor O'Brien was the catalyst for these discussions and his direct participation in our meetings has been a very positive factor in the rapid progress," said Mr. Bryden.
"I couldn't be happier," said Ottawa Mayor Larry O'Brien. "The City of Ottawa has supported Plasco from the get-go and considers it both an important contributor to our local economy and an important solution to our trash problems. When I undertook the initiative to bring Ottawa firms to China, we felt that the solution Plasco brought to Ottawa would be equally relevant to our Twin City Beijing and were excited they joined our delegation. It turned out that the challenge Beijing is facing in terms of thirst for electricity and solution for the ever growing waste management issue is very much the same as ours but on a colossal scale. We expected dividends from this trip but are astounded by the speed with which the negotiations proceeded once we had secured prior support from senior municipal authorities."
Officials of BESG plan to meet with Plasco in Ottawa as part of the work to conclude a definitive agreement by May 30th.
About Plasco Energy Group Inc.
Plasco Energy Group builds, owns, and operates proprietary, world-leading technology that converts municipal solid waste into green power and other valuable products. Plasco has more than thirty years of experience with plasma technologies and has received funding from Government agencies, including Sustainable Development Technology Canada. Plasco is the green alternative to municipal waste management providing a socially acceptable and environmentally superior solution.
For further information:
Plasco Energy Group, Andrea Foottit, (613) 591-9438 ext. 1225, Manager, Marketing.