RDT signs China deal...
PORT COLBORNE, ONTARIO--(CCNMatthews - Feb. 27, 2007) - Radiant Energy Corporation ("Radiant" or the "Company") (TSX VENTURE:RDT) developer and marketer of InfraTek(R), the environmentally friendly, patented, infrared pre-flight aircraft deicing system, is pleased to announce the signing of an agreement with the China Civil Aviation Technology and Equipment Corporation ("AVITEC"), a division of the Civil Aviation Authority of China ("CAAC"), for sales and distribution of InfraTek in China.
Colin V. F. Digout, President of Radiant explained, "China has embarked on a multi-billion dollar investment to modernize its airports and aviation network. InfraTek will allow China to leapfrog over the archaic conventional glycol spray and collect systems. The covered facilities will allow Chinese airlines to meet departure times, assist China in implementing the most reliable aviation network in the world, and showcase their commitment to environmental improvement."
AVITEC and the CAAC are corporations owned by the Government of China. AVITEC is responsible for identifying and importing aviation products into China for China based airports and airlines. As part of the sales and licensing agreement, Radiant will provide the heating units, control booth, and other key components. Radiant will sell the turn-key system to the airport based on a fixed price from AVITEC to do the selling, engineering, supply of the structure and installation of the equipment. Financing, with progress payments will be arranged prior to the commencement of the project. Radiant's office will be located in AVITEC's Beijing office.
Radiant has 95,990,217 shares outstanding after the completion of the above transactions and trades on the TSX Venture Exchange (symbol RDT). The InfraTek Deicing System is the only FAA-approved for use, non-glycol based alternative to the conventional pre-flight ground deicing process. InfraTek offers savings to airports and airlines by reducing treatment costs and by significantly reducing the negative environmental impact of glycol. The InfraTek Deicing System is in use at JFK International Airport, New York, the Newark Liberty International Airport, New Jersey, the Rhinelander-Oneida County Airport, Rhinelander, Wisconsin, and about to commence full operations at the Oslo Airport in Gardermoen, Norway. |
