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Technology Stocks : Thermo Tech Technologies (TTRIF)

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To: Tom G who wrote (5800)10/3/1999 10:29:00 PM
From: CAYMAN   of 6467
 
Here is another tear for the beer, Jackman. What ever happened to this stick of dynamite?! Maybe you could explain it to us?

cayman_98

Skagit Valley Herald

Web-site:

skagitvalleyherald.com

March 22, 1997

Recycler To Build $9 Million Plant

Canadian company turns waste into useable products.

By Mike Nemeth
Staff Writer

FREDONIA – A Canadian recycler has announced plans for a plant capable of turning about 300 tons of food waste, agricultural processing byproducts and animal manure into marketable products each day.

The $9 Million plant would be the fifth built by fast-growing Langley, B.C. - based Thermo Tech Technologies Inc. It would be located near existing pulp lignant recycler Ligno Tech USA Inc. near the corner of Highway 20 and Farm-to-Market Road.

"We're talking 32 jobs and probably a $10 Million to $12 Million investment," said Kevin Morse, Thermo Tech's newly hired director of project development. "It's really exciting."

Morse had been manager of Skagit County's Environmental Industries Program at the Economic Development Association of Skagit County.

Thermo Tech has two plants operating outside Toronto. Plants in Richmond, B.C. and Fort Devons, Mass., are scheduled to open later this year. The Fredonia plant is scheduled to open toward the end of this year. Ground-breaking is planned later this spring.

Morse said the 14-year-old company is working to secure financing for the Skagit County operation and obtain necessary permits.

"The company's got incredible potential," he said. Others agree.

"It is obvious to us that this is likely to become a super growth company over the next few years," said Woodside, N.Y. - based J. Taylor's Gold & Gold Stocks newsletter.

In a recent update, Recycling Product News reported that the company's effort to develop international markets is expected to bear fruit.

Morse said the company can sell everything it produces. He said the plant takes restaurant waste and leftovers from agricultural processors like National Frozen Foods – even chicken manure and other bio-solids - to produce animal feeds and soil conditioners.

The company calls the patented process "aerobic thermophilic microbial fermentation." It takes any biodegradable organic material and uses bacteria under exacting conditions in a closed containment system to break down the material through "auto-thermal" heat.

The heat pasteurizes the fermentation slurry and produces a safe end product in about two days.

Company spokesman said Thermo Tech will never run out of raw material. "The world is drowning in wet organic waste." Wherever people are, waste is not far behind. It is society's responsibility to deal with that refuse, but it should not be a burden.

The company, publicly traded on NASDAQ, joins a growing cadre in a fast-expanding industry.

"The whole concept of utilizing organic byproducts from industry and institutions like hospitals for other products is growing, definitely. Big time," said David Riggle, managing editor of Emmaus, Penn. - based BioCycle magazine.

Riggle also said the market for soil conditioners has begun to grow as commercial users like golf courses and landscapers have discovered the benefits of building up organic material in soil rather than relying solely on conventional fertilizers.

Don Wick, executive director of the Economic Development Association of Skagit County, said he had worked with Thermo Tech executives about a year prior to their decision to locate a plant in Skagit County. He said he was impressed.

"Outstanding company," he said. "Neat people. A good thing about the project is it accomplishes several things. It creates jobs but also enhances the environment when doing it."

Investor Relations called Skagit County a good location and "a beautiful place to be."

Thermo Tech Technologies Inc. plans to break ground later this spring on a plant that will recycle food and animal wastes and create marketable products. The process is fully enclosed, emits no odor and processes hundreds of tons daily.

End of Editorial

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