Syngas International (NASD:OTCBB: SYNI) Announces Update to Medical Recycling Project Project Proceeds to Major Joint Venture
LAS VEGAS, NV AND EDMONTON, AB, Jan 11, 2006 (MARKET WIRE via COMTEX) -- Syngas International Corp. (OTC BB: SYNI), www.syngasinternational.com, is pleased to announce that the Company's project to supply gasification technology for a medical waste plant in Alberta has achieved a new milestone.
The project began as a pilot to sell the facility an M2-2.5, and quickly progressed to the facility increasing their requirement to an M2-60 unit. Syngas was to receive roughly $2 million per annum as its percentage of revenues under this scenario.
The project now calls for Syngas to be an equal joint venture partner in the project which has estimated revenues of $7.0 million plus per annum.
"All parties involved are energized by this agreement. The waste management industry is highly fragmented, with few proper disposal methodologies for sensitive waste products like medical wastes. Our aging population has made disposing of expired and used medical products a real problem, and we believe that in order to make a significant impact on the future of this industry and to bring about positive change, a multi-faceted and all-encompassing approach must be taken," stated Wilf Ouellette, President of Syngas Energy Corp, and director of its parent Syngas International Corp. "That's why its so important that Syngas not only provide technology and support, but by having an equity stake in the project, the joint venture is assured of availing itself to the latest in waste management technologies. Waste management is a perfect application for Syngas' renewable fuel technologies." Ouellette continued, "With the joint venture, we have taken another major step toward fulfilling the mission of the Company -- providing energy in an enviro-eco-sensitive manner."
Ouellette explained that in order to impart this significant impact on the industry, one had only to realize that waste medical products, if misused, could cause significant harm. Gasification not only ensures that expired meds and used equipment will not cause harm, but can do it in a way that produces energy, cuts costs and saves the environment from needless filling.
About Syngas International Corp: www.syngasinternational.com
Syngas International Corp. (OTC BB: SYNI), through it's subsidiary Syngas Energy Corp., is an emerging leader in the development and marketing of low-cost alternate fuels worldwide. We believe our superior technology will catapult our company into a GREEN POWERHOUSE. With energy prices at high levels and the global focus moving rapidly towards addressing pollution, the need for sustainable, zero-emission energy is vital. Our technology is based on clean, renewable energy. We foresee our company poised to benefit from global trends.
Contact:
Syngas International Corporation
Investor Relations
1-888-646-5611
www.syngasinternational.com
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