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Technology Stocks : Geo2 Ltd. Green technologies
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To: Goanna who wrote (9)9/30/1998 8:18:00 AM
From: richard badauskas  Read Replies (2) of 70
 
Geo2 signs major Chinese contract in China with PLA. The new contract has an annual turnover of US$10M in a 50/50 joint venture with PLA to manufacture, market and distribute 300 water purification units and 600 boiler filter units a year.

PLA's interest in Geo2's technology was renewed after the recent devastation caused by the floods across north eastern and central China during September, killing more than 3000 people and causing more than $20B in damage. PLA engineer Mr. Liu-Fang was based at Harbin during the floods. He set up Geo2's mobile water purification unit to supply clean drinking water to PLA soldiers fighting the floods.

News spread quickly amongst the Army and local villagers that Geo2's 'lifesaving' water purification unit was capable of turning the murky floodwaters into clean drinking water. "We couldn't believe the PLA's enormous response to our units" Mr. Laycock said. "straight away they asked us to build 300 units a year to be used to supply clean drinking water to the Army."

"Obviously if the Army is happy with their new purified water, the potential is there to expand our water purification units throughout rural China" ..."With 79% of surface water polluted, China considers clean drinking water more precious than oil. The PLA sees this as an enormous and profitable market".
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