Startech Environmental Corp. the world leader in plasma waste destruction and recycling technology, announced today that a Letter of Intent has been executed for the purchase of a five (5) ton per day Plasma Waste Converter (PWC) to be installed in Rhode Island.
While the financial terms have been set, the Agreement allows the 5 TPD system to be increased to a 10 TPD PWC. The Agreement requires the final contract to be consummated within 60 days, and calls for an initial down payment followed by progress payments before delivery.
Steven M. Peras, President and CEO of Peras International, Inc., the purchaser, said, "The Plasma Waste Converter is intended to be installed in a hazardous and toxic waste treatment facility in Rhode Island. The end-user is a company with many years of experience operating many certified hazardous waste facilities located throughout the United States and Europe. Facilities such as this are referred to as TSD (Treatment, Storage and Disposal) facilities. We expect to buy a number of additional PWCs in the very near term for installations in the United States and Europe. This is just the first of many to come."
Joseph F. Longo, Startech President, said, "This will be the second commercial-size PWC in the United States. The installation will be a top priority of the Company, and will allow us to show the PWC processing a wide diversity of hazardous wastes in an on-going commercial application."
About Startech Environmental Corp:
Startech is an environmental equipment company whose Plasma Waste Converter (PWC)(TM) safely proocesses and converts hazardous and non-hazardous wastes comprised of organic and inorganic solids, gases, aqueous and non- aqueous liquids by its proprietary method of molecular dissociation and closed-loop elemental recycling. The PWC converts most hazardous and non- hazardous wastes into useful commodity products.
For further information, contact Robert L. DeRochie, VP of Investor Relations, or see the Startech web page:
startech.net |
