SNRG Corporation Announces Gasification Plant Acquisition
12 Novembro 2009 - 11:45AM
Marketwired
SNRG Corporation (PINKSHEETS: SNRG) announced this morning that the
Company has entered into an agreement with Vega Invest AG d/b/a
Enviropark Global AG for purchase of all of the assets and
membership interests of Enviropark Texas, LLC for an aggregate
price of $20,000,000. The assets consist of a gasification facility
near Bay City, Texas, that was originally built by Molten Metals
Technology, Inc. at an approximate cost of $90,000,000.
The facility was built in 1996-1998 but was never operated and
has been maintained in excellent condition. The plant will be
retrofitted with a new and more cost efficient gasification unit to
replace the Molten Metal gasification technology that was not
viable for the waste streams that were to be processed. In
addition, the company will add de-manufacturing, materials
recovery, waste processing and blending systems that will provide
supplemental and incremental revenue sources.
D. Elroy Fimrite, the Chief Executive Officer of SNRG Corp.,
stated, "This plant is the perfect site for development of our
first Enviropark Waste processing facility, all of the multiple
processing segments except the gasification unit are well designed,
high quality, functionally new and were very time consuming and
expensive to construct. We have a four or five year market
advantage by stepping into this first class facility for execution
of our Enviropark business model."
"In the current economic times many companies are launching
green initiatives, but typically large amounts of capital must be
funded over a long period of time, and significant zoning and
permitting challenges must be overcome before revenues can be
generated," added Mr. Fimrite. "We anticipate revenues will
commence in early 2010 and that full operations will be underway by
the end of 2010."
The Company advises that description of the Enviropark Model and
pictures of the facility are available on our website at
www.snrg.net.
FORWARD-LOOKING STATEMENTS AND SAFE HARBOR STATEMENT:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act"). In particular, when used in the preceding discussion,
the words "believes," "expects," "intends," "will," "plans,"
"hopes," "anticipated," or "may," and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act, and are subject to the safe harbor
created by the Act. Except for historical information, all of the
statements, expectations and assumptions contained in the foregoing
are forward-looking statements that involve a number of risks and
uncertainties. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties
associated with the Company's business focus; the Company's ability
to raise needed funding; the potential productivity of our proposed
properties; changes in the operating costs and changes in economic
conditions and conditions in the recycling and de-manufacturing
industry and the risks associated with implementation of such
technologies and their commercial viability. Although we believe
that the beliefs, plans, expectations and intentions contained in
this press release are reasonable, there can be no assurance those
beliefs, plans, expectations or intentions will prove to be
accurate. SNRG Corporation takes no obligation to update or correct
forward-looking statements, and also takes no obligation to update
or correct information prepared by third parties that are not paid
for by the Company.
Investor Relations Contacts: Mr. Christian Hansen Market
Specialist Equititrend Advisors, LLC 800-585-6988 Mr. Jim Elbert
Destiny Focus Consulting Inc. 630-847-4255 Authorized by: D. Elroy
Fimrite President & CEO
Susglobal Energy (QB) (USOTC:SNRG)
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