ALTER NRG CORP. SELLS FIVE TECHNOLOGY SITE LICENSES TO PGPT FOR CZECH REPUBLIC AND SLOVAKIA FOR $4.375 MILLION
Alter NRG Corp. has sold five technology site licences to PGP Terminal AS (PGPT). Under the terms of the deal, PGPT has an option to purchase three more site licences within 12 months. All eight licences provide guaranteed access for PGPT to Alter NRG's plasma gasification technology for projects that can be located anywhere in the Czech Republic or Slovakia.
Under Alter NRG's standard licensing terms, PGPT has paid the first partial payment for each licence totalling $437,500. The remaining amounts on each of the site licences are paid to Alter as Alter completes engineering, delivers plasma gasification equipment and assists PGPT during the commissioning for each project, all under additional separate contracts. The total value of the first five licence agreements is $4,375,000.
Walt Howard, Alter NRG's chief executive officer, states: "We are delighted to add PGPT, a well-qualified and funded investor and developer as a customer. After working with the PGPT team for over a year now, it is clear they know the Czech and Slovak markets and they have the ability to quickly develop projects."
Petr Brenek, chairman of PGPT, stated: "We have over 10 plasma gasification projects in our pipeline. After completing our due diligence on the technologies available in the market place that can help PGPT deliver on its business plan, and based on the Slovak and Czech legislative concepts supporting the utilization of municipal solid waste and other feedstock for energy production, we chose Alter NRG and its Westinghouse plasma gasification technology. Alter's commercial reference plants and the depth of its technical and operation expertise were key decision factors. Alter's recent sale of a 1000-tonne-per-day gasifier to a Fortune 500 company for a project in the United Kingdom only served to support our decision to partner with Alter NRG."
Mr. Howard also noted: "This deal with PGPT is further validation of Alter's strategy to focus on specific global markets including certain specific countries within Europe that have superior market fundamentals and improved access to capital. We continue to advance negotiations of licensing deals in a number of other markets around the world." |
