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

To: vds4 who wrote (338)	5/10/2002 4:41:42 PM
From: Ichy Smith	Respond to of 340

Hi Sorry I didn't reply earlier, I had relatives drop in from Ohio for lunch.... They had an announcement that the 3.8 million dollar contract for the rocket destroying machine had been extended..... ECO LOGIC For Immediate Release News release Eco Logic confirms Cdn$3.8 million contract extension under US Assembled Chemical Weapons Assessment Program Rockwood, Ontario - May 9, 2002 - ELI Eco Logic Inc. ("Eco Logic" or the "Company") (TSX-ELI) announced today that it has received a Cdn$3.8 million contract extension to continue work on the design and manufacture of a common rocket dismantling machine prototype. This work is in support of the US Army's Assembled Chemical Weapons Assessment (ACWA) program and is in addition to the previous contract announcement made by the Company on March 15, 2002. The objective of this contract is to generate additional design and operating data to supplement the final Engineering Design Packages (EDP) for the implementation of a pilot facility at the Blue Grass Chemical Depot in Kentucky where the Army stores 523 tons of chemical weapons. Eco Logic's initial EDP contract involved the development of a full-scale preliminary design for the Blue Grass Chemical Depot. Eco Logic and its team produced a set of process design drawings, preliminary hazards analysis using military-standard procedures, and a life cycle cost estimate for its "Total Solution" at this storage site. Initial EDP work was completed in December 2001, and has become the basis of consideration and evaluation by the Army and US Department of Defence (DOD) for technology certification, acquisition and permitting. The "Total Solution" developed by the Eco Logic team is one of the alternatives to incineration that is being considered for pilot scale implementation at Blue Grass by the Department of Defence in 2002. Under the new contract extension, Eco Logic will work closely with its subcontractor El Dorado Engineering to design, develop, fabricate and test a common Rocket Dismantling Machine (RDM) prototype. It is intended that the RDM will be used within the proposed "Total Solution" as submitted by Eco Logic to ACWA or any other application required by the U.S. Army for rocket dismantling. The purpose of this common RDM prototype is to address ACWA' s specific need for a device that meets the essential core requirements for rocket dismantling and at the same time possess sufficient design flexibility to meet different or new applications. ACWA requires the design, development, fabrication, and testing of an RDM for not only the Eco Logic/Foster Wheeler "Total Solution" application, but also for other technology providers that require an RDM. The US Army's ACWA Program was congressionally mandated in 1997 to identify and demonstrate alternatives to the baseline incineration process for the demilitarization of assembled chemical munitions. Under this program, ACWA evaluated thirteen solutions, selected six for demonstration testing and with definitive results in hand, identified three Blue Grass EDP stage contracts. Eco Logic is an engineering technology company that licenses and supports commercial applications of its patented GPCR process for the destruction of toxic materials in a safe, permanent, cost effective manner. Using this technology, Eco Logic's customers convert on-site, organic hazardous waste and contaminated material into reusable or disposable products. The world-wide market for Eco Logic's technology includes systems for the elimination of Persistent Organic Pollutant (POP) chemicals from industrial waste streams, as well as systems for the destruction of hazardous waste stockpiles including PCBs, hexachlorobenzene (HCB), pesticides, dioxin, contaminated electrical equipment, contaminated soils, chemical warfare agents, and most petrochemical wastes. The information in this news release includes certain forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove correct. - 30 - For information contact: Mr. Brian Howlett, CFO (519) 856-9591 ext. 205 Website: www.ecologic.ca Email: corporate@ecologic.ca Hope that helps.....Looks like they may be doing real well in this deal with the army........ Regards Peter