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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: CAYMAN who wrote (5544)5/19/1999 11:15:00 PM
From: Tom G  Read Replies (2) of 6467
 
Here is Part I of Tonights Conference Call, While waiting for Rene questions were being asked to Ted Bellman,

I had asked a question on whether or not TT had to add storage tanks for the increase capacity of waste from the new process. I also asked if there was enough room for more tanks at Richmond. This is where Rene had stepped in. The answer was no, they did not need to add tanks. During the old process TT would take bulk waste and grind it into a slurry at 15% total solids. These were dissolved solids and suspended solids. The new process now gets as high as 45% total solids, suspended solids now make up 20 to 25% with dissolved solids making up the rest. At 45% concentration the same limited capacity holding tanks end up holding far more solids because your concentration is higher.

With the new process the receiving area increases to 1200 tons, fermentation increases to 800 tons and end product increases to 235 tons per day. TT now adds corn to the end product, he did not mention how much corn they use but he did say the pay $140 a ton and they now get $200 per ton for the end product.

Then the question was asked when TT would be cash flow positive? Rene answered that Richmond alone will put the company in cash flow positive position by July.

They have been making changes and additions to Richmond for last 3 months. This is where the added cost and dilution has been coming from. "We are so close to making this plant so profitable, so quickly. To get the best return for our money." By Friday Richmond will be easily able to process 600-800 tons per day with no problem.

A new evaporator is also needed to increase even more capacity. They are close to a deal on leasing evaporators. They have also been working to get Hamilton I updated for the new process and are almost completed there. The new process and plants will be the Thermo Master Mark III Plant.

TT is very close to getting permit for sludge in Hamilton. The Ministry of Environment gives out Development Permits. The plant must be built then operate with this permit, TT must prove the plants work as stated. As long as it works there will be no problems, if they have problems the Ministry can revoke the permit.

The low-end waste does not mean the waste is substandard it is a liquid waste such as milk pop ect. It is easier to handle and does not have to go into the pulpers. This waste is very much available and very difficult for companies to get rid of. I think her said it could be as much as 35% protein.

End of Part I, I will work on the rest.

Tom
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