Recieved this promo item tonight - wouldn't it be an incredble fit if the two companies could combine. - What a powerhouse it would be in the area of diesel development.
Major Railway Interested in TER
Thermal Retrieval Systems Ltd.
(Formerly "Ashdod Systems Ltd.")
(ASE: ASN)
ter.ca
July 12, 1999 FOR IMMEDIATE RELEASE
=============================================================
Major Railway Interested in TER
Montreal, Quebec, Canada - TER Thermal Retrieval Systems Ltd. today
announced receipt of a written expression of interest in its TER system -
from a major railway company. No details have been provided at this time.
--------------------------------------------------------------
TER THERMAL RETRIEVAL SYSTEMS LTD., headquartered in Montreal, focuses on
the development of its TER technology. TER (thermal energy retrieval)
technology converts extracted waste heat from an engine cooling system into
mechanical energy, for reuse in the engine as added power. Preparations are
now under way to produce and distribute systems based on the technology for
heavy-duty trucks and mobile off-road diesel engine applications, such as
construction vehicles, locomotives, and mining trucks, and stationary power
generators. Future applications of the TER technology may also include
fossil-fuelled power stations.
For further information, please contact:
Marian Kellerman C.A., Chief Financial Officer,
at (514) 985-9632, fax (514) 985-9719,
or email mailto:yoda@proxyma.net.
You may also visit our web site at ter.ca
ON BEHALF OF THE BOARD OF DIRECTORS OF
TER THERMAL RETRIEVAL SYSTEMS LTD.
Eli Hay Eng.
President & CEO
The Alberta Stock Exchange has neither approved nor disapproved of the
information contained in this release. This News Release may contain
certain forward-looking statements.
THERMAL RETRIEVAL SYSTEMS LTD.
"Cleaner air from diesel engines"
ASE:ASN
ter.ca
July 1999
Founded in 1998, TER Thermal Retrieval Systems Ltd. is an Alberta-listed,
Montreal-based junior public company. The company has been granted an
exclusive worldwide license to complete the development, manufacture and
marketing of the TER(tm) technology - attachment to diesel engines.
Up to the 1990's, diesel engines were perceived to have relatively "clean"
exhaust. When environmental requirements became more onerous, exhaust from
diesel engines was found to contain a large amount of pollutants that
should be watched. The result was new requirements in the US Clean Air Act
that made it necessary to actively reduce pollutants from diesel engines.
TER(tm) is the culmination of 7 years of research and development. Natural
Resources Canada sponsored a major portion of the research and development
activities leading to blueprints of the TER(tm) system. Recently, Natural
Resources Canada has confirmed their continued interest by offering support
to test the TER(tm) prototype at Environment Canada laboratories in Ottawa.
As a general comment, in internal combustion engines, the fuel energy is
equally split: 33.3% is used as motive power, 33.3% is wasted through hot
exhaust gases, and 33.3% is wasted to the engine coolants.
The Thermal Energy Retrieval ("TER(tm)") represents a new technology in the
diesel engine field: TER(tm) is designed to recuperate the heat wasted in
engine coolants, and to transform it efficiently into engine output shaft.
A microprocessor-based system is intended to permit TER(tm) to work at or
near design conditions, as well as ensure its safe operation. The TER(tm)
technology will lead to a substantial reduction in pollutants discharged
into our atmosphere. The multi patent-pending technology culminates a
lengthy research program that was begun in 1992. TER(tm) is at the
pre-commercial prototype stage. The manufacture and field-testing of the
commercial prototype is now proceeding. During the next 12 months, the
system will go through a series of performance tests as the company
prepares for the manufacture of its first generation units.
This is a giant, multi billion-dollar market, consisting of road and
off-road stationary diesel engines. Our prime users will be road vehicles
(heavy-duty trucks), mobile off-road vehicles (construction, locomotives,
mining trucks.) and stationary power generators.
The company has a high degree of efficiency; decision-making process is
extremely fast and innovation is attained more rapidly. Our team has
established a cost-efficient development process: corrections are made
quickly, alternative actions are readily implemented.
The TER senior management group comprises at present 7 members. Their
exposure and involvement with the technology for a number of years is a
great asset for the timely design and test completion of the prototype.
Other members of the team are handpicked to fit into the group. Management
is highly diversified: engineering, finance and legal.
Diesel engines are basic prime movers that are reliable, and which provide
steady power relatively cheaply. TER(tm) is a system aimed at leading to a
significant reduction in emitted pollutants. The company is poised to make
TER(tm) a front-runner technology in the diesel engine field. TER will also
address the low-grade heat energy found in fossil-fuelled power stations
for electricity production.
TER Thermal Retrieval Systems is actively discussing strategic alliances
with major diesel engines companies, heavy-duty truck manufacturers,
locomotive railway transport companies and power producers.
Further information:
--------------------
Rachel Kellerman
Tel: (514) 985-9632
Fax: (514) 985-9719
Email: mailto:yoda@proxyma.net
Stock information:
------------------
Public float: 2,750,000
Escrow shares: 5,700,000 |
