lasma Environmental Technologies Inc
PLAS
Shares issued 28,000,000
1999-06-04 close $0.05
Monday Jun 7 1999
An anonymous director reports
Plasma Environmental Technologies Inc. and the Ontario Power Technologies
division of Ontario Power Generation, (a successor company to Ontario Hydro),
have cooperated to submit an expression of interest (EOI) in response to the City
of Toronto's request for expressions of interest addressing the city's need for a
system of waste management services and facilities for the 20 years following the
closure of its Keele Valley landfill site in 2002.
Toronto's integrated solid waste resource management process is responsible for
providing city council with a viable plan for disposal of the city's household
garbage and industrial, commercial and institutional wastes. In 1998 Toronto
managed over two million tonnes of solid waste primarily through disposal at
Keele Valley and a commercial landfill in Michigan.
TIRM includes soliciting disposal options in three vendor categories. The
company's proposal is under category 3 - new, emerging and innovative
technologies, and is proposing to accept 100,000 tonnes per year for conversion
to electricity using the company's recently developed PAACS system.
PAACS is an extension of the company's PARCON-SW solid waste plasma
furnace, and of the plasma furnaces developed by OPT. Plasma Environmental
and OPT will design the facility jointly. Most of the PAACS components and
subsystems can be sourced and fabricated in Ontario, including Toronto, thus
contributing to local employment and economic growth.
PAACS is a closed-loop system, which will convert garbage into electricity and a
vitrified glass, or slag, which is usable as a construction material and demonstrated
to be leach-proof and non-hazardous. A PAACS facility can be installed on a
new or existing landfill site. In addition to beneficially disposing of current waste,
the system is able to mine old waste to reduce existing landfill volume.
TIRM expressions of interest will be evaluated for inclusion on the request for
proposal short list based on overall proposal merit. Under the city's proposed
schedule the RFP for category 3 will be issued in January, 2000, to those
respondents who qualify. Contracts will be awarded in February, 2001, and the
new facilities are required to be operational in 2002.
Plasma Environmental's key product, the PARCON unit, is a patented hazardous
waste destruction system. Independently tested at USEPA's National Risk
Management Research Laboratory, the PARCON system met or exceeded
Environmental Protection Agency standards for destruction of PCBs, chemical
warfare agents and explosives by exceeding a 99.99995 per cent destruction
removal efficiency.
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