FASC FIRST AMERICAN SCIENTIFIC CORP. (FASC-OTC, BB) announces that AGES has entered into a contract with Hollywood Park Racetrack of Inglewood, California, to provide a preliminary engineering study to build an electrical co-generation system designed to operate on racetrack waste.
VANCOUVER, May 30 /PRNewswire-FirstCall/ - C. Kantonen, Chairman of First
American Scientific Corp., (FASC) is pleased to announce that Alternative
Green Energy Systems Inc. (AGES), a subsidiary of FASC and Hydro Quebec
Capitech (HQC) has been commissioned by Hollywood Park Racetrack, a Churchill
Downs Corporation owned facility, to prepare an engineering study for building
a self contained co-generation plant using the KDS Combustion System fuelled
by race track waste, mainly biomass and horse manure. The plant will be
capable of generating 5 - 7 megawatts of electricity, sufficient to power and
heat the entire Hollywood Park Racetrack and Entertainment Complex.
Hollywood Park Racetrack currently produces over 40,000 tons of
waste/biomass annually which will be converted to electrical energy under the
proposal. The key to the process is First American's patented KDS Micronex
disintegration system which can convert the racetrack's waste into a clean
burning fuel. The consistent, fine dry powder will be combusted in a specially
designed AGES biomass dust suspension burner and boiler to produce
approximately 50,000 lbs of steam at high pressure for heat and to turn a
turbine to generate electrical power.
The study will include an assessment of the overall electrical load
requirements, the cooling water requirement, the steam heating requirement,
overall fuel requirement, an analysis of existing space available for the
proposed new facility to be located on the racetrack grounds, and preparation
of preliminary designs and budgets. Upon completion of the study, a formal
quotation and purchase order for the project will be presented for final
evaluation and approval. The self-supporting system will eliminate all energy
costs and transportation and environmental costs associated with animal waste
accumulation and disposal. Return on investment is estimated at two years, or
less if the excess power can be able to be sold into the California grid.
According to Mr. Bill Barber: "Our meeting at Churchill Downs in
Louisville, Kentucky, owners of Hollywood Park, was extremely successful.
Demand to find alternative sources of energy are a high priority, not only in
the USA, but also throughout the entire world. Now, with the assistance and
backing of Hydro Quebec's research funding, AGES and FASC engineers have
developed a clean burning alternative fuel source from wood and animal waste.
The racetrack installation will be the first application to showcase this
technology that has the potential to revolutionize the way the world handles
its waste and produces electricity."
Certain information and statements included in this release constitute
forward-looking statements within the meaning of Federal Private Securities
Litigation Reform Act.
ON BEHALF OF THE BOARD OF DIRECTORS
C. Kantonen, Chairman
FASC: (NASD Bulletin Board) Web Site: www.fasc.net
Call Corporate Communications Toll Free 1-800-561-8656
SOURCE First American Scientific Corp.
-0- 05/30/2002
/CONTACT: Web Site: www.fasc.net; Call Corporate Communications, Toll
Free 1-800-561-8656;
To request a free copy of this organization's annual report, please go to
newswire.ca and click on reports@cnw./
(FASC)
CO: First American Scientific Corp.
ST: British Columbia
IN: ENV OTC
SU: TNM OTC
-30-
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