funny there's no mention of FASC.ob on SI today even tho it moved up 126% on 34 million shares traded...
stockcharts.com
Apr 18, 2006 -- Brian Nichols, President of First American Scientific Corp. (OTC BB:FASC.OB - News) is pleased to announce the signing of an agreement in principle to form a joint venture to be named First American Scientific Brazil Ltda., with South American Bio-Energy Corp Ltda of Uruguay and Bruno Industrial Ltda of Brazil www.bruno.com.br for the manufacture, marketing, and operation of KDS equipment in Brazil, Uruguay and Argentina.
The first installation of a fully operational KDS system is planned to commence operation in September 2006 as part of a new $US 50 million sugar refinery and ethanol plant in Sao Paulo state. The KDS will process diverted waste bagasse to a pelletizer and bagging house to create "bagasse pellets" which will be burned in conventional pellet burners to create green energy. The initial target will be to deliver 300,000 tonnes of pellets in the local region, then to look beyond the borders of South America to Europe where an order for 1,000,000 tonnes of pellets is anticipated.
Brazil, the fourth largest country in the world, has an abundant supply of biomass (bagasse) that is eliminated during the refining of sugar cane. With the KDS, we can now capture overflow waste material and efficiently convert it to a high BTU biomass pellets. Our Brazilian partner has identified 80 sugar refining operations in Brazil alone that will be suitable candidates for our system.
According to Mr. Nichols, "This ties in nicely with our recent announcement of the signing of a distribution agreement with EnergyCabin www.energycabin.com to market their pellet burning equipment in North and South America, and also opens up opportunities in Asia where there is an abundant supply of biomass that could be pelletized and sold through our joint venture partners in Malaysia, Korea or Japan."
Under the proposed joint venture, in addition to receiving a royalty on all equipment sold and 50% of all profits, FASC will receive a royalty on every ton of pellets produced in Brazil. FASC's contribution to FASBrazil will be the exclusive license to the KDS while the Brazilian partners must provide all required startup capital until FASB achieves positive cash flow.
This is the fifth license agreement signed by FASC around the globe with installations in Malaysia, Japan, Korea, Europe, North America and now South America. |
