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Gold/Mining/Energy : Eco Logic Company ( ELI ECO ) Update -- Ignore unavailable to you. Want to Upgrade?

To: Dan Hamilton who wrote (317)	5/11/2000 11:08:00 AM
From: Tom Jordan	Read Replies (1) \| Respond to of 340

Final Japanese approval for GPCR for Dioxins and how nice to see a timely US news release also. Thursday May 11, 10:27 am Eastern Time Company Press Release Eco Logic Announces Receipt Of Japanese Permits For Dioxin Destruction ROCKWOOD, ONTARIO--ELI Eco Logic Inc. (``Eco Logic'' or ``the Company'') (TSE-ELI) announced today that full, national level approval has been received from the Japanese government for use of the Company's proprietary technology, Gas-Phase Chemical Reduction (GPCR), for destruction of dioxin-contaminated wastes. Dioxin is the collective term for a class of highly toxic organic compounds produced as by-products of manufacturing and combustion processes. As a result of concerns for human health, the Japanese government, along with those of most other industrialized countries and the United Nations, have actively promoted the importance of remediating dioxin-contaminated sites and the incorporation of technology and manufacturing processes which will curtail future production. In 1999, the Japanese Parliament (Diet) passed the ``Dioxin Special Measures Law'', requiring the Ministry of Health and Welfare to evaluate, select and approve dioxin remediation technologies by January 15, 2000. In response to a solicitation from the Ministry of Health and Welfare, Eco Logic's GPCR technology was selected for in-depth testing and evaluation for dioxin destruction. Eco Logic collaborated in the performance of the government sponsored tests in April and May 1999, the results of which demonstrated that GPCR successfully destroyed high levels of dioxin in liquid, solid and soil media, with an efficiency of 6 to 7 nines (99.9999 to 99.99999 percent). The Ministry of Health and Welfare has now granted formal approval of GPCR for dioxin treatment for all three waste media. Mr. Robert S. Morse, the Company's Executive Vice President reported that approval of GPCR for dioxin destruction in Japan offers new opportunities for commercial collaboration: ``Remediation of highly contaminated sites as well as elimination of future dioxin release has been identified as a priority objective by the Government of Japan. It was with this national goal in mind and the opportunity it presents for effective utilization of our unique approach to hazardous waste destruction that Eco Logic supported the Japanese government's regulatory process during 1999. Once the tests confirmed our expectations for high dioxin destruction efficiency, we began the process of identifying suitable partners for commercial development of this emerging market. On March 28, 2000 we announced an agreement with Asahi Pretec for their exclusive use of GPCR in Japan for dioxin and other Persistent Organic Pollutant (POP) treatment (excluding PCBs and chemical warfare agents). Since that time, the Company has worked with Asahi Pretec to complete the previously announced licensing agreement, which we expect will be finalized by June 30, 2000. Dioxin remediation in Japan represents a large, multi-faceted market for our technology, and we believe that Asahi Pretec is well positioned to support this endeavor. Toward this end, the importance to Asahi Pretec of GPCR approval for dioxin and other waste treatment applications was evaluated and advantageously interpreted by the financial services company, Jeffries and Company, Inc., in their April 7, 2000 report on Asahi Pretec.'' Eco Logic's business is to solve toxic chemical problems in a safe, permanent, cost effective manner. The Company's patented process is an innovative technology that converts on-site, organic, hazardous waste into reusable or disposable products. This non-incineration process has gained high public and regulatory acceptance. Eco Logic's worldwide market includes pollution prevention for POPs, chemicals and hazardous waste destruction for PCBs, hexachlorobenzene (HCB), pesticides, dioxins, contaminated electrical equipment, contaminated soils, chemical warfare agents, and most petrochemical wastes. Contact: Barbara Ware (519) 856-9591 ext.204 Web site: eco-logic-intl.com Email: corporate@eco-logic-intl.com