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Gold/Mining/Energy : PLASMA ENVIRONMENTAL TECHNOLOGIES INC. - PLAS -- Ignore unavailable to you. Want to Upgrade?

To: Veritas who wrote (12)	8/20/1998 10:40:00 AM
From: Mike Paulin	Read Replies (1) \| Respond to of 15

Agreement with Malaysian consortium Plasma Environmental Technologies Inc PLAS Shares issued 26,400,000 Aug 19 close $0.13 Thu 20 Aug 98 News Release An anonymous director reports Plasma Environmental Technologies has signed a memorandum of understanding with a consortium of Malaysian interests to invest in the transfer of the PARCON technology, as well as the application of the PARCON technology for municipal solid waste (MSW) conversion into saleable products. The MoU was signed following the presentation of Plasma Environmental's PARCON (Plasma Arc Conversion) technology last week at the USEPA's (Environmental Protection Agency) National Research Facility in North Carolina. The Malaysian consortium of the Universiti Teknologi Malaysia (UTM), Uni-Technologies Sdn Bhd, and Biopure Systems Sdn Bhd will be financing the anticipated $60-million (U.S.) project. The preliminary budget for the project is expected to include $20-million (U.S.) for a technology transfer and associated expenses, with $10-million (U.S.) payable to Plasma Environmental and Hungaroplazma (the company's Hungarian partner); $30-million (U.S.) for the development and construction of a PARCON municipal solid waste plant; and $10-million (U.S.) for a plasma research facility and associated research and development. Plasma Environmental's representatives will be travelling to Malaysia in September to negotiate the final details of this milestone agreement. Plasma Environmental's key product, the PARCON unit, is a patented hazardous waste destruction system. Independently tested at USEPA's National Risk Management Research Laboratory, the PARCON system met or exceeded EPA standards for destruction of PCBs, chemical warfare agents and explosives by exceeding a 99.99995 per cent destruction removal efficiency. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com