THERMO TECH(TM) TECHNOLOGIES INC. ANNOUNCES PROFITABLE NINE MONTHS FOR HAMILTON BIO CONVERSION INC. IS WORKING PROOF OF EFFECTIVENESS OF THERMO MASTER(TM) PLANTS
VANCOUVER, March 27 /CNW/ - Thermo Tech(TM) Technologies Inc.
Listed NASDAQ - Trading Symbol: TTRI.F
THERMO TECH(TM) TECHNOLOGIES INC. (The Company) today announced that the
nine month performance of its Hamilton Bio Conversion Inc., has exceeded
financial projections and has validated projections of the Company's models
for its 400 and 600 ton per day Thermo Master(TM) Plant designs.
The Hamilton plant, although designed and permitted to 200 tons per day
capacity, operationally proved the fermentation process/thermophilic plant was
capable of operating at 300 tons per day. However, mechanical bottlenecks and
engineering deficiencies initially prevented the Thermo Master(TM) Plant from
running consistently at that rate of throughput. Therefore, the Company
commissioned a major retrofit program for Hamilton Bio Conversion, as well as
a full system redesign, without change to the thermophilic plant/fermentation
process. The effective modifications and sound new design for Model 4 and
Model 6 Thermo Master(TM) Plants resulted in: major improvements in
operational efficiency; reduced costs; and increased revenues for Hamilton
Bio.
''The operational and financial performance of the Hamilton Bio
Conversion plant is proof of the effectiveness of the modifications and the
soundness of the new design for Model 4 and Model 6 Thermo Master(TM)
Plants,'' said Wayne Hansen, Chief Financial Officer. ''These results
validate everything we have said about the Thermo Master(TM) Plant and the
Thermo Master(TM) Process.''
''I am extremely happy that our President and CEO, Ren Branconnier,
spent the last 18 months to get it right,'' Hansen said.
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Statement of Income - Hamilton Bio Conversion Inc.
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Model Actual Model Projected
Projection Performance Projection Performance
for 9 for 9 for 12 for 12
Months at Months to Months at Months to
200 tons Jan. 1998 200 tons April 1998
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Total Revenue $2,760,000 $2,742,000 $3,680,000 $3,656,000
Total Direct Cost 1,089,000 799,000 1,452,000 1,065,000
GROSS PROFIT 1,671,000 1,943,000 2,228,000 2,591,000
Total Indirect Cost 342,000 255,000 456,000 340,000
PROFIT
(Before other
expenses) 1,329,000 1,688,000 1,772,000 2,251,000
Amortization 660,000 1,018,000 880,000 1,357,000
NET INCOME
(Before taxes) 669,000 670,000 892,000 893,000
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