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Strategies & Market Trends : WAST - why so low? -- Ignore unavailable to you. Want to Upgrade?

To: jmhollen who wrote (702)	11/18/2000 11:01:17 PM
From: jmhollen	Respond to of 712

WasteMasters, Inc. Presents Economic Details On First Environmental Recovery Project BUSINESS WIRE EL RENO, Okla., Nov. 17 — On October 23, 2000, WasteMasters, Inc. (OTCBB:WAST) announced the groundbreaking for its alternative fuel manufacturing plant located near New Lexington, Ohio. Today the company revealed the financial details of the project. The plant is the first of five plants to be built and operated by Appalachia Environmental Recovery, Inc. ("AERI"), a wholly owned subsidiary of WasteMasters, Inc. WasteMasters Finalizes $20,000,000 Equity Line of Credit and... "We anticipate that each plant could generate $20 million of revenues and $3.5 million of net income when operational. Our goal is to have all five plants operational by the end of fiscal 2002," said Chairman and CEO Dr. Leon Blaser. The plants will be funded through a combination of debt and equity both previously announced and still in negotiation. The new AERI plant will process small coal particles, or "coal fines", left behind by previous mining operations, into low-sulfur briquettes that will ultimately be sold as an alternative fuel to utility companies. The briquettes will have the same BTU as bituminous coal but much less sulfur content making them an environmentally friendly product. Dr. Blaser said his company is excited to add AERI, a company with tremendous potential, to its list of environmentally friendly companies. "AERI will recover coal slurry ponds and restore the sites to clean, useable land and ponds." The new plants will add approximately 25 new jobs per plant, which will provide a much-needed boost to the economically depressed area of New Lexington, Ohio and other locations in the region of the United States called "Appalachia". The unemployment rate the last few years in Appalachia has hovered around 16%, which is 4 times the national average. State and local officials have applauded WasteMasters and AERI's efforts in the region. Dr. Blaser concluded, "The positive environmental impact this project will have on the region and its streams is extraordinary. This is the first step to ending the environmental nightmare that has burdened Appalachia for decades. Over 500 acres of lakes will be created once the first project is completed. We are thrilled to be a part of the environmental and economic revival in this region of the country." WasteMasters collects, transfers and landfills waste primarily through its operations in Pennsylvania and Ohio. Its subsidiaries process waste products into alternative fuels. Copyright 2000 Business Wire