(COMTEX) B: NATHANIEL ENERGY CORPORATION AND MCCORMACK CONSULTANTS FO
B: NATHANIEL ENERGY CORPORATION AND MCCORMACK CONSULTANTS FORM NATHANIEL EUROPE
LTD. TO FULFILL CONTRACT FOR $90 MILLION IN ANNUAL REVENUES
CASTLE ROCK, Colo., Dec 14, 1999 /PRNewswire via COMTEX/ -- Nathaniel
Energy Corporation (OTC Bulletin Board: NECX) announced today the
formation of Nathaniel Europe Ltd. in joint venture with McCormack
Consultants, of Dublin Ireland, to install the first Nathaniel Thermal
Combustor in Ireland. This significant announcement following on the
recommendations of last weeks independent report from MC O'Sullivan,
government consultants and authors of the Dublin Waste Management Plan,
is the first commercial recognition and response to government policy
to foster environmentally sustainable development and coincides with
the recommendation that Ireland adopt thermal treatment as a
replacement to the now socially unacceptable practice of landfill.
Under terms of the contract, the facility will receive and convert up
to 500,000 tons of municipal solid waste ("MSW") per year and expects
in excess of US $90M in revenue annually.
"After three years of intensive feasibility studies, we are pleased to
be the first commercial project under the new Dublin Waste Management
Plan," stated Stan Abrams, CEO of Nathaniel Energy Corporation. He
further added, "Under the new regulations, at least 60% of solid waste
must be incinerated to reduce the dependence on landfills. We are
currently completing our due diligence and feasibility studies for six
additional facilities in the Dublin area with a combined capacity of 5
million tons per year of MSW."
The Thermal Combustor technology is a two-stage combustion system
capable of burning most combustible waste materials and when adapted to
a co- generation unit is capable of producing low-cost power. A typical
single project utilizing 3 units is capable of producing the equivalent
of a 10 megawatt power station, sufficient power generation for a city
of 25,000 homes. Five million tons of MSW could produce as much as 500
megawatts of electricity. This translates into $150 million US.
The Thermal Combustor, Nathaniel's patented environmentally friendly
system for burning combustible waste materials, will be transported to
Ireland in the 1st Quarter of 2000. The new facility should be fully
operational within 90 days of delivery. The plant being shipped to
Dublin is an enhanced version of a similar design which has operated
successfully on the premises of the Atlanta Constitution Newspaper in
Atlanta, Georgia, for the last 10 years, consuming all of the
facility's waste per year while generating heat which is used by the
newspaper in its printing processes.
Nathaniel Energy Corporation (NECX) is a multi-faceted company that is
implementing innovative and profitable ways to resolve the complex
problem of waste disposal, recycling, re-use and the subsequent
creation of low-cost fossil fuel suitable for creating energy for
heating and electricity. NECX is creating an environmentally friendly
Alternative Energy by providing an efficient, successful process to
produce solid waste fuel, which can be used to create heat, steam and
electricity for a variety of economically feasible applications.
The statements contained in this release which are not historical facts
contain forward-looking information with respect to plans, projections
or future performance of the company, the occurrence of which involves
certain risks and uncertainties that could cause the company's actual
results to differ materially from expected results. Such risks include
the timing of implementation and the scope and success of the program
described here.
CONTACT: Investors, Cesar A. Muniz, Managerial Advisory Services, Inc.,
in Tampa, 813-814-2725, or in New York, 212-214-0795
SOURCE Nathaniel Energy Corporation
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Investors, Cesar A. Muniz, Managerial Advisory Services, Inc.,
in Tampa, 813-814-2725, or in New York, 212-214-0795
(NECX)
|
