News Release
Plasma Environmental Technologies Inc
PLAS
Shares issued 28,000,000
1999-06-30 close $0.05
Thursday Jul 8 1999
An anonymous director reports
Plasma Environmental Technologies has received written notification from the City
of Toronto that the company's expression of interest has passed the qualifying
criteria for proceeding to the request for proposal stage.
Under the terms of the city's integrated solid waste resource management process,
companies were invited to respond to the city's request for expression of interest.
Expression of interest proposals were judged on six pass-fail criteria. The criteria
used were to provide the city with assurance that respondent companies have the
financial strength and stability to complete the proposed project, that the
companies are able to obtain high-value liability insurance, that the technology has
operated successfully at pilot scale or full-scale for at least six months, and that the
proposed technology will be able to receive the necessary operating permits by
Jan. 1, 2002.
In co-operation with Ontario Power Technologies (formerly Ontario Hydro
Technologies), Plasma Environmental developed the Plasma-Assisted Advanced
Cogeneration System (PAACS), which converts garbage into electricity. PAACS
is an environment-friendly closed loop technology, which releases no harmful
emissions or effluents. It is comprised of three technologies, which have been
proven at pilot and full commercial scale in Canada and internationally.
Plasma Environmental is now evaluating the value of adding a partner for the
forthcoming request for proposal, anticipated to be released in January, 2000. The
company will consider partnering with waste disposal or project management
firms. |
