LETH looks like the leaky news theory was right.
Life Energy & Technology Holdings Inc., NY, Signs Manufacturing Alliance Agreement With Omega Natchiq, Inc., to Build Biosphere Process Systems
Thursday February 20, 11:46 am ET
UTICA, N.Y.--(BUSINESS WIRE)--Feb. 20, 2003--Life Energy & Technology Holdings Inc. (OTCBB:LETH - News; Deutsche Borse DE:LFT) and Omega Natchiq of Lafayette, La., have entered into a Manufacturing Alliance Agreement for engineering, fabrication, site selection, deployment and full service support and maintenance of Life Energy's Biosphere Process(TM)(1) Systems.
Omega Natchiq is particularly suited toward the manufacture, deployment and maintenance of Life's Biosphere Process(TM) Systems. Omega is a subsidiary of Natchiq, Inc., headquartered in Anchorage, Alaska. The Natchiq family of companies delivers excellence in every aspect of oil field service and industrial system development. Working in some of the most challenging environments in the world, for some of the most exciting companies, Natchiq has earned a reputation for delivering quality performance, logistical sophistication and worldwide resources.
Albert Reynolds, Chairman of Life Energy has stated, "I am delighted to have a Manufacturing Alliance Agreement with such a dynamic quality company such as Omega Natchiq. They bring many creative and practical skills that will be of great benefit to Life Energy's global expansion. Omega Natchiq has dedicated facilities needed to fulfill contractual requirements of a minimum of 1,000 Biosphere Process(TM) Systems per year within the next 60 month period is crucial in allowing LETH to meet our current and developing sales orders. The Biosphere Process(TM) Systems manufactured in Louisiana will, dependant upon client specifications, be similar to those that we have previously sold for between USD$6.5M and USD$11M per system. As I travel and meet with our current and prospective clients, intensifying our already extensive sales drive, it will be a comfort to know that we are backed up in service and support by a stellar company like Omega Natchiq."
Omega is fully prepared to dedicate production, engineering, sales, marketing, and installation to complete and fulfill Life Energy's current and future sales contracts, with a minimum of 1,000 Biosphere Process(TM) Systems per annum within 60 months. In addition to manufacturing, Omega Natchiq will also sell and market the Biosphere Process(TM) Systems to its extensive client list in the oil and gas sectors. Omega Natchiq is a subsidiary of Natchiq, Inc., who is owned by the Arctic Slope Corporation of Barrow, Alaska. Omega Natchiq, Natchiq, Inc. and the Arctic Slope jointly have the ability, coupled with their financial, engineering, manufacturing and construction abilities, to complete the turnkey requirements of this agreement. Omega Natchiq will commit within the next 60 months the personnel and infrastructure to produce and construct a minimum of 1,000 Biosphere Process Systems per year. Omega will supply the turbines, electrical generators, electrostatic precipitators and steam generating equipment needed to support the Biosphere Process Systems. In addition Omega will assist LETH to provide 25-year service and support contracts to each of LETH's clients. Omega Natchiq's parent company, Arctic Slope Corp., is a major company in oil and gas exploration. They have the capabilities to manufacture and install oil-drilling equipment and install oil-drilling platforms. Currently, they have land holdings of approximately 5 million acres in northern Alaska. Arctic Slope has 6,000 employees. Further information can be obtained from the Company's web sites.
About Omega Natchiq Inc. (http://www.omegaservice.com/): Omega Natchiq, Inc. is a wholly owned subsidiary of Natchiq, Inc. (http://www.natchiq.com/home/). Omega Natchiq is a full service onshore and offshore, construction and fabrication contractor service to major independent oil companies worldwide. Their clients include BP/Amoco, Shell, Pemex, Chevron, and Marathon. They provide experienced, qualified personnel for offshore and land production operations. They are experts in providing: control and automation systems design and integration; SCADA systems design and integration; fire and gas systems and commodity sales; and electrical and instrumentation installation, maintenance and commissioning. The Natchiq Inc. family of companies includes APC Natchiq, Global Power and Communications, Houston Contracting, Natchiq Sakhalin, Natchiq Technical Services, and Tri Ocean Engineering (Alaska). Natchiq, Inc. is one of eleven first tier subsidiaries of the Arctic Slope Regional Corporation (ASRC) (http://www.asrc.com). ARSC is a private, for profit Alaska Native-owned corporation representing the interests of the Arctic Slope Inupiat based in Barrow, Alaska. The corporation employs 6,000 and has title to approximately 5 million acres of natural resource abundant land in northern Alaska.
About Life Energy & Technology Holdings Inc. (http://www.le-th.com): Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM), supplies energy through a profitable and environmentally safe process. The Biosphere Process(TM) Systems, a central part of the EcoTechnology(TM) system, safely and efficiently, processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
(1) Biosphere, Biosphere Process, Biosphere System, Biosphere Venturi & Biosphere Densifier are all trademarks of the Life Energy Partnership 1994.
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Contact:
Life Energy & Technology Holdings, Utica
Michael Liberatore, 315/724-8370
E mail: info@le-th.com
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Source: Life Energy & Technology Holdings Inc. |
