SRRY .40...this is another one I like a lot...has not really moved up a lot...yet...but I believe has every reason to do so...and thrive...I have posted on it about 25 times or so--
siliconinvestor.com
finance.yahoo.com
ancon Participated in "More Green for Shanghai" Campaign, Received e-Waste License from Chinese Government and Made Additional Investment in Environmental Services
* Press Release
* Source: Sancon Resources Recovery, Inc.
* On Tuesday August 25, 2009, 8:00 am EDT
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SHANGHAI--(BUSINESS WIRE)--Sancon Resources Recovery, Inc. (OTCBB: SRRY - News) (or “Sancon”), a rapidly growing environmental services and waste recycling company with operations in both China and Australia, announced today that Sancon Shanghai (“Sancon SH”), a majority owned subsidiary of Sancon, was invited to participate in the Shanghai government sponsored and organized campaign named “More Green for Shanghai” as the only commercial enterprise.
In order to meet the environmental initiatives set for 2010 Shanghai World Expo and promote the concept of "waste separation and conserve resources," Shanghai Municipal Afforestation Bureau launched the “More Green for Shanghai” campaign. Sancon is the only commercial enterprise that has been invited to participate in this campaign. Sancon will place specially made bins for the collection of waste paper from college campuses and office buildings. New copy paper will be given free of charge to the campaign-participating outlets to encourage and reward recycling. The waste paper collection is expected to reach over a thousand tons in 2010. We expect to generate profit from these activities from late 2009 to 2010.
Sancon is pleased to report that it has recently been awarded a license from the local Chinese Government to collect and process electronic waste such as computers, printers and copiers, as well as electric white goods. In order to further promote the expansion of domestic demand and improve energy efficiency of resource use, and also reduce environmental pollution, the Chinese government encourages the exchange of old electric products for new starting May 2009. The governmental budget this year will provide US$0.3 billion or RMB 2 billion of subsidies for upgrading the old electric products. Sancon is expected to benefit from such subsidies for its waste processing and recycling services.
Separately, Sancon has made an investment of 20% of the total equity interests in a new local Chinese enterprise named Shanghai ShengRong Environmental Protection Technology Co., Ltd. ShengRong is an early stage business development company focused on developing opportunities in the environmental services industry in China. It has entered into preliminary agreements with three world-renowned manufacturers of Printed Circuit Board (“PCB”) in China to collect and process leftover materials of PCB (“LMPCB”), which contains 18%-30% copper and other precious metals. The expected annual collection of LMPCB will be over 10,000 tons once in full operation and generating revenue reaching around $10 million USD each year. ShengRong will start trial production in fourth quarter 2009 and formal production in 2010.
“We are very excited to report these new developments to our shareholders,” Mr. Jack Chen, CEO of Sancon said. “Sancon is beginning to be noticed and recognized by the local government for our relentless effort to expand our environmental services and waste recycling operations. We believe these efforts will have a long lasting impact on our environment and society. We are still at an early stage of development of the growing environmental industry in China. We believe Sancon will benefit greatly from these investments and expansions.”
About Sancon Resources Recovery Inc
Sancon Resources Recovery, Inc. is an environmental service and waste management company that operates recycling facilities in China and Australia. Sancon specializes in the collection and recovery of industrial and commercial solid wastes such as plastic, paper, cardboard, and glass. The recycled materials are re-used by Sancon's manufacturing customers in China to make a wide variety of new products including outdoor furniture, construction materials, building materials, road surface, and various new products. Sancon's China operation is licensed by the Chinese government for waste management services, and is certified with ISO9001 and ISO14001 standards. For more information please visit: www.sanconinc.com
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Algal Fuels Consortium (AFC) won $2.724M in Australia Government's Development Grant
Sancon is the Founding Commercial Partner to the AFC
* Press Release
* Source: Sancon Resources Recovery Inc.
* On Thursday August 20, 2009, 8:00 am EDT
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SHANGHAI--(BUSINESS WIRE)--Sancon Resources Recovery Inc. (OTCBB:SRRY) (or “Sancon”), a rapidly growing environmental services and waste recycling company with operations in both China and Australia, announced today that Algal Fuels Consortium (AFC) has been successful in winning a research grant of $2.724M under the Department of Resources Energy and Tourism’s Second Generation Biofuels program in Australia. Sancon is the founding commercial partner to the AFC and has the right to commercialize the technology for China.
AFC comprises the Sancon Recycling Pty Ltd (a wholly owned subsidiary of Sancon Resources Recovery Inc.), Government of South Australia, South Australian Research & Development Institute (SARDI), Flinders University, Commonwealth Scientific Industrial Research Organization (CSIRO), and Flinders Partners. AFC is developing microalgal mass cultivation systems to generate biomass from Captured CO2 emissions. This will be used as a feedstock to a pilot-scale second generation biorefinery for sustainable production of transport fuels and value added products.
The Chair of the Algal Fuels Consortium, Assoc. Prof Rob Thomas says, “This truly collaborative research project will produce biomass from native strains of microalgae, from which biodiesel will be produced on a scale that is commercially viable. At the same time, the project will produce high value by-products including Omega-3 fatty acids, bioactive peptides and carotenoids used by the nutraceutical industry.” The South Australian Minister for Agriculture, Food and Fisheries, Paul Caica, congratulated the consortium for the significant funding announcement. He said that “South Australia aims to be a leader in renewable energy industries and this initiative strengthens that objective.” The Australian Government funding will support the construction of 0.4 ha of raceway ponds on Torrens Island adjacent to the gas fired power stations. This will be one of the largest research biorefineries in Australia with the potential to be scaled up to 15 ha. This is a complex project and needs access to a range of skilled researchers. The AFC has access to 70 researchers with expertise in algal culture, post combustion carbon capture, harvesting and dewatering, extraction and bioprocessing. The project will enable AFC to showcase this national capability to international investors for commercial uptake.
Microalgae have the potential to produce up to 10 times the volume of biofuels in comparison to traditional oilseed crops grown on the same land footprint. But unlike oilseed crops, microalgae can use non-arable land and seawater. This would result in major economic and social benefits. Most importantly, carbon dioxide is fixed by the microalgae as it grows, thus helping us recycle our carbon emissions.
This innovative renewable energy project is a major step forward from the small scale research conducted to date by the AFC partners. Under this project, the consortium partners will improve native microalgal strains to be grown in ponds optimized for productivity, with carbon and nutrient delivery. The AFC will also develop low cost and efficient harvesting, dewatering, and oil extraction technologies and perform subsequent bioprocessing to produce high value co-products alongside biodiesel. The AFC will also undertake economic and life cycle analysis during this project in order to support a full commercial venture. The AFC has already attracted interest from a number of major international companies looking to develop large scale renewable energy technologies from microalgae.
Mr. Jack Chen, CEO of Sancon said: “The long term strategy of Sancon’s involvement and support of AFC has always been to enhance the commercialization of the technology by becoming a leader in the production of biofuels, which will not require agricultural land, based on AFC’s algae biotechnology. A step forward from this involvement will provide opportunities to improve China’s river and shoreline environments utilizing Sancon’s current China infrastructure. By just replacing a fraction of China’s mineral diesel with biodiesel produced from microalgae would generate a turnover of around of billions of dollars, create around thousands direct new jobs and bring about a reduction of millions tones of fossil carbon dioxide emissions.”
About Sancon Resources Recovery Inc
The existing core business of Sancon Resources Recovery Inc. is to provide environmental and waste recycling services in China and Australia. Sancon's operations are fully licensed by the Chinese government and certified to ISO9001 and ISO14001 standards. For more information please visit: www.sanconinc.com.
Forward-looking statements:
The statements made in this press release, which are not historical facts, may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
Contact:
Sancon Resources Recovery, Inc.
Jack Chen, +86 21 67756099 (CEO)
info@sanconinc.com
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