Non-Tech
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Life Energy & Technology Holdings, Inc. (LETH)
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| An SI Board Since January 2003 |
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UTICA, N.Y., Jan 15, 2003 (BUSINESS WIRE) -- Life Energy & Technology Holdings Inc. (OTCBB:LETH) (Deutsche Borse DE:LFT) and Global FranTech Group of Lake Arrowhead, California announce the signing of a sales agreement for five (5) MKIII Biosphere Process(TM) Systems to be deployed with Global FranTech Group's clients in China.
The agreement is for five (5) MKIII Biosphere Process(TM) Systems, with a combined initial sale price of USD$55,000,000 with an option to purchase an additional 595 systems. The purchase is guaranteed by the Chinese Central Government and finance is arranged by a major Japanese Bank. All 600 MKIII Biosphere Process(TM) Systems are expected to be supplied to Global FranTech Group within 36 months.
Welcoming the signing of the Global FranTech contract, Dr. Albert Reynolds, Chairman of Life Energy & Technology Holdings Inc., (Prime Minister of the Republic of Ireland 1992-95), said: "I am pleased to be able to announce the consummation of this agreement. My management at Life Energy has worked intensively with Global FranTech to develop these sales in North and South East Asia, and we look forward to delivering the first of the 600 Biosphere Process(TM) Systems to this important and expanding market."
Mr. Phil Nadeau, Chairman of Global FranTech endorsing Dr. Reynold's comments said: "We at FranTech are delighted to be purchasing these Biosphere Process(TM) Systems for deployment in China. China is an important market place for our company, and one in which the Biosphere Process(TM) System technology is vitally needed both for waste conversion and for electricity production. In addition to our intended deployment of 600 mobile MKIII Biosphere Process(TM) Systems in China, we are currently negotiating with the governments of several countries in North and South East Asia to sell many more of these superb Biosphere Process(TM) Systems. The ability to convert waste materials to green electricity, portable water, distilled water, steam, compost, fertilizer and building materials, as provided by the Biosphere Process(TM) System is, we have now proven, world beating technology."
About Global FranTech Group, Inc.
Global FranTech is a subsidiary of FranTech Strategies International, Inc. (http://www.frantechstrategies.com) a highly successful globally oriented U.S. Corporation. FranTech has a 35-year history in International Investment Banking and Corporate Finance. Global FranTech enjoys a non-exclusive appointment to market Life Energy's Biosphere Process(TM) Systems in the following markets:Singapore, China, Indonesia, Thailand, Malaysia, Philippines and Vietnam. FranTech has proven track records in assembling, negotiating and consummating trade, licensing, technological and financial agreements; pooling strengths drawn from experience in international trade policy, law, marketing, investment banking and technology research.
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) System, 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 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.
CONTACT: For Life Energy & Technology Holdings, Utica
Michael Liberatore, 315/724-8370
E mail: info@le-th.com
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