Wednesday May 2, 2001 9:03 am Eastern Time
Press Release
SOURCE: Thermo Tech(TM) Technologies Inc.
Thermo Tech(TM) Technologies Inc. - Charles Miller provides business profile
Listed OTC BB Trading Symbol: TTRIF
PETALING JAYA, MALAYSIA, May 2 /PRNewswire/
Thermo Tech(TM) Technologies Inc. (the ``Company'') is pleased to provide an overview of the Company's vision in the Malaysian and Southeast Asian market. Mr. Charles Miller, President, has assembled the following information to assist shareholders to see the market vision that brought the Firmaplus Sdn Bhd group to the Company with its master license proposal, and eventually create the larger vision that convinced the Firmaplus group to commit to its expanded involvement in the corporate structure today.
Southeast Asia is a rapidly developing and growing region of the world. It is filled with many large centers of commerce. Within the original market region targeted by Firmaplus when it only intended to become a master licensee, there is a population of approximately 400,000,000 people. This creates all the usual pressures for environmentally sound organic waste management that the Thermo Master(TM) Mark III system was designed to address. However, within this same area, there are several extremely large agricultural production industries that create equally large market opportunities. The most prominent of these is the palm oil industry. The industry itself has been working diligently to manage the issues created by the sheer scale of the sector and has made progress. Even still, management of the Company sees an exciting technology match for the Thermo Master(TM) system and a market opportunity that creates a winning scenario for all parties and the environment as well.
At present, the Company is pursuing specific negotiations which must remain confidential until complete. However, to put this business opportunity into context it is helpful to know something of the overall market. Palm oil is second only to soybean oil in total volume in the world market and on percentage basis represents 25-26% of the total world vegetable oil market. Soy stands at approximately 28%. That word vegetable oil market is some 54 Million tonnes annually, according to 1999 statistics. Historically, and over many years, commodity prices for soy and palm oil have been similar. Malaysia is the world's largest producer of palm oil with more than 50% of annual production and Indonesia is close behind with approximately 40%. Malaysia has a total compliment of oil extraction mills of about 390 and Indonesia has more than 200. Each oil mill produces a number of organic waste streams, but the two largest are ideally suited to be treated in a dedicated Thermo Master(TM) Mark III Plant. There are handling procedures in place, but the industry itself is in a major program of improving present options. It is the ideal time to introduce the Thermo Master(TM) option, an option that will meet the ambitious and rigorous standards that are being adopted. The Company's working vision is one oil mill, one Thermo Master(TM) facility, collocated at the same site.
Palm oil is used for a great many purposes, with new applications being developed steadily. Palm oil is employed as either a main ingredient or functional ingredient in the widest range of foodstuffs including baked goods, fat based foods, dairy based formulated foods and especially in confectionery products based on chocolate. Palm oil is used as a vegetable frying fat and it is used widely in cosmetics preparations. It is also used in many non-food applications and may soon gain prominence as a bio-fuel. At the other end of the spectrum, palm oil is the source of a number of fine chemicals employed either as functional ingredients or as parts of vitamin preparations. Palm oil is rich in Vitamin A.
In Malaysia, where the Company has chosen to locate, the palm oil industry is a major economic engine. The oil palm plantations can be seen everywhere. It was this reality that created the business vision of Firmaplus. This vision was two-fold. 1) The Thermo Master(TM) technology provides the kind of technology for which the palm oil industry has been searching. 2) The scale and nature of the organic waste byproducts stream is a huge business opportunity for the Company's technology.
Mr. Miller stated, `` As we work here in Malaysia to realize our vision, we are extremely excited by what we see and what we know can be accomplished. I work on a daily basis with the people in the industry and infrastructure groups that will help us to make it happen. Our goal is not to simply come in and ''cherry-pick`` a few quick opportunities, and I will say that these are available right now. We have chosen to work with the industry, the government and all the important players in the support communities to introduce and deliver our unique technology and business proposition at full industry scale. We do not come in here to ''save`` anyone. We are offering a sound business and environmental proposition to a huge and sophisticated industry. In time, we expect this strategy and approach to reap proportionally huge rewards and we are prepared to take the time to achieve the largest impact we possibly can.''
Thermo Tech(TM) Technologies Inc. is a leader in organic waste recycling. Thermo Tech(TM)'s patented thermophilic process is utilized in compact and environmentally friendly Thermo Master(TM) plants to convert biodegradable food waste into high protein animal feed and wastewater treatment sludges into fertilizer concentrate.
Certain statements contained herein are ``forward looking statements'' (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based upon the belief of the Company's management, as well as assumptions made based on information currently available to the Company's management. Because such ``forward looking statements'' are subject to risks and uncertainties, actual results may differ materially from those expressed or implied. Such ``forward looking statements'' include but are not limited to, competitive factors, general economic condition, customer relations, relationships with vendors, government supervision and regulation, product introductions and acceptance, technological changes in industry practices, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD OF DIRECTORS OF:
THERMO TECH(TM) TECHNOLOGIES INC.
"Charles Miller"
Per:
Charles Miller
President
(TM) The terms Thermo Tech(TM) and Thermo Master(TM) are registered trademarks of Thermo Tech(TM) Technologies Inc. The term Thermo Master(TM) is licensed for use by Hamilton Bio Conversion Inc. and Richmond Bio Conversion Inc.
SOURCE: Thermo Tech(TM) Technologies Inc.
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