Pacific Green Technologies Inc. Review of 2013 and Key Milestones in Q1 2014
14 Janeiro 2014 - 12:10PM
Pacific Green Technologies Inc. ("the Company") (OTCQB:PGTK)
releases a review of 2013 and its key objectives for Q1 2014. Dr.
Neil Carmichael, President of the Company, commented:
"2013 was a significant year for the Company as we endeavour to
transform the business from its entrepreneurial beginnings to
create an international technologies business focussed on the
renewable energy sector. It has been a pleasure to serve as your
chief executive officer since September 18, 2013.
During the course of the last quarter we have made a number of
announcements and I thought it would be useful for shareholders,
stakeholders and the wider market to summarise the key steps we
have taken in transforming the business:
- October 21, 2013 - the appointment of Dr. Andrew Jolly as our
non-executive director. Andy's regulatory expertise has been
instrumental in navigating our way through the recent changes in
the UK's renewable subsidy regime;
- October 23, 2013 - the engagement of MZ Group as part of our
investor relations team to acknowledge the need to raise
significant capital in the first half of 2014 for Energy Park
Sutton Bridge;
- November 8, 2013 - the appointment of Alan Thompson as Project
Director at Energy Park Sutton Bridge gives us the experience
required to implement a project of this size and importance, Alan
having already been involved in project managing a 790MW gas fired
power plant at Sutton Bridge just a few hundred metres from the
land allocated for our project;
- November 20, 2013 - the appointment of Fichtner Consulting
Engineers Limited as owner's engineer at Energy Park Sutton Bridge.
Fichtner's proven track record in biomass energy is, we believe,
second to none;
- December 5, 2013 - the appointment of Chris Williams as Head of
Business Development for the group, thereby leveraging his wide
experience of the renewable energy sector and proven ability to
gain planning permission for renewable energy projects;
- December 11, 2013 - in conjunction with MZ Group, the release
of our new investor relations platform and its integration into our
website;
- December 12, 2013 - the assumption of a 40% interest in
Peterborough Renewable Energy Limited which affords us an economic
interest in one of the UK's largest consented waste to energy
projects at 79MW;
- December 18, 2013 - an agreement with BlueMount Capital to
spearhead our proprietary emission control technologies in
China.
On this platform our key objectives for Q1 2014 include:
- Technologies - our objective is to establish
trade partners for our proprietary emission control technologies
worldwide with an initial emphasis on the People's Republic of
China ("PRC"). I am pleased to report that Alex Shead is currently
in the PRC leading a trade mission for our technologies with
several meetings scheduled in Chengdu, Beijing and Shanghai. I look
forward to reporting further news during the course of the first
quarter;
- Energy Parks – our primary objective is to
reach financial close on Energy Park Sutton Bridge in 2014 and to
that end we need to take some key steps forward in this first
quarter principally:
a. in conjunction with Fichtner, establishing the technology to
be deployed in the plant. Our choice in this regard is as much to
do with budget as it is the regulatory regime and choosing
technology that will gain the comfort of financiers, an area where
many projects fall short;
b. to begin the environmental agency permitting phase once the
technology has been established;
c. we have made significant strides in our fuel procurement
strategy and again I hope to make further announcements during the
first quarter to keep shareholders up to speed with progress;
d. we are seeking a consulting partner to manage our power
purchase agreement strategy.
In addition to the specific objectives outlined above, in terms
of general business development we are also looking at:
- continuing to build our management team around the world;
- licensing and marketing our technologies in other areas of the
world with established partners;
- acquiring existing renewable energy power stations in the USA
and UK. We are currently investigating several
opportunities;
- rolling out a separate strategy for energy parks at the <5MW
level through a new branded division.
I'm looking forward to a successful 2014 for the Company and
will continue to keep shareholders appraised of developments."
About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is dedicated to addressing the
world's need for cleaner and more sustainable energy. PGT is
divided into three divisions:
- the design, development, licensing and marketing of
numerous types of technologies designed to improve the
environment through clean energy use;
- the development of renewable power plants; and
- licensing its proprietary emission control technologies,
ENVI-Clean™ and ENVI-Pure™, to power stations worldwide.
For more information, visit the Company's website:
www.pacificgreentechnologies.com
CONTACT: Neil Carmichael, President and Director
Pacific Green Technologies
T: +1 (408) 538-3373
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