OCTOBER 10, 2000 - 09:11 EDT
Eco Logic Completes Test Stage In US Chemical Weapons
Destruction Program: Company Anticipates Moving To
Engineering Design Studies Stage In Early 2001
HARWOOD, MARYLAND--ELI Eco Logic Inc. ("Eco Logic" or the
"Company") (TSE-ELI) announced today that it's Gas Phase Chemical
Reduction process (GPCR) has successfully completed the Test &
Demonstration Stage of the US Assembled Chemical Weapons
Assessment (ACWA) program. During the next two months the Company
will work with its partners to complete the final report, which
the Program Manager for ACWA will evaluate and submit the results
to the US Congress.
"When the analyses of these test results are processed, the
Company anticipates being invited to move forward to the
Engineering Design Studies stage of the program, which is expected
to commence in early 2001," said Dr. Fred Arnold, Eco Logic's Vice
Chairman and Chief Executive Officer.
The US Army's ACWA Program was congressionally mandated in 1996 to
conduct demonstrations of technologies that destroy or
decontaminate assembled chemical munitions components such as
Mustard and the nerve agents. Under this program, selected
destruction technologies were evaluated for their feasibility as
alternatives to the Army's current "baseline" incineration
process.
Internationally accepted and EPA-tested, Eco Logic's GPCR process
is a proven, general-purpose technology for the destruction of
organic contaminants.
The Company initiated discussions in 1995 with the US Army on the
application of its patented GPCR technology to the destruction of
chemical weapons. Eco Logic received an initial contract from the
US Army to demonstrate its technology for chemical weapon
destruction under the Alternative Technology program in 1996. It
subsequently fulfilled additional test and demonstration work
under contracts awarded in 1997, 1998 and 1999. In each instance,
GPCR demonstrated the ability to meet or exceed specific Army
requirements. In February of this year, the Company was awarded a
prime contract in the amount of US$3.3 million to demonstrate the
GPCR technology for destroying dunnage, metal parts, and agent and
to show that it is part of the total solution. The ACWA program
mandate is to identify and demonstrate not less than two
alternatives to the baseline incineration process for the
demilitarization of assembled chemical munitions.
"Eco Logic's technology is proven and well suited to the diverse
types of materials and high hazard wastes that define the
treatment requirements for chemical weapon destruction," added
Arnold. "Based on our performance to date, I am optimistic that
the investment that we have made in pursuing this important
initiative will continue to yield returns for our shareholders."
Eco Logic is an engineering technology company that licenses and
supports commercial applications of its patented GPCR process for
the destruction of toxic materials in a safe, permanent, cost
effective manner. Using this technology, Eco Logic's customers
convert on-site, organic hazardous waste and contaminated material
into reusable or disposable products. The world-wide market for
Eco Logic's technology includes systems for the elimination of
Persistent Organic Pollutant (POP) chemicals from industrial waste
streams, as well as systems for the destruction of hazardous waste
stockpiles including PCBs, hexachlorobenzene (HCB), pesticides,
dioxins, contaminated electrical equipment, contaminated soils,
chemical warfare agents, and most petrochemical wastes.
The information in this news release includes certain
forward-looking statements. These statements are based upon
assumptions that are subject to significant risks and
uncertainties. Although the company believes that the
expectations reflected in forward looking statements are
reasonable, it can give no assurance that the expectations of any
forward-looking statements will prove correct. |
