ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

WMT

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:WMT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

WMT Secures Letter of Intent for Phase II of Hangzhou Soil Remediation Project

27/03/2014 7:27pm

Marketwired Canada


West Mountain Capital Corp. (TSX VENTURE:WMT) ("the Company" or "WMT") today
announces that its Chinese wholly owned foreign enterprise, Shanghai Phase
Separation Environmental Protection Engineering Co. Ltd. ("PS2SH") received a
Letter of Intent from Hangzhou DADI Environmental Protection Engineering Co.
Ltd. ("Dadi") in respect of awarding a subcontract to PS2SH for its treatment of
an additional 70,000 to 100,000 tonnes of contaminated soil ("Phase II") under
the Hangzhou Soil Remediation Project.


In August 2012, the Company secured a subcontract with Dadi to treat 33,000
tonnes of pesticide-contaminated soil as a full-scale commercial demonstration
of TPS technology in China ("Phase I"). Dadi's contract for the entire Project
involves the remediation of approximately 160,000 tonnes of contaminated soil
and, in accordance with the terms of the original subcontract, Dadi may offer
the Company additional volumes once the 33,000 tonnes is completed. To date the
Company has treated 27,400 tonnes of soil under Phase I and expects to complete
its obligations in May of 2014.


"Based on the exceptional performance of the TPS technology and the
professionalism of our team on Phase I, Dadi and the customer are offering our
Company 70,000 to 100,000 tonnes of additional soil for treatment", said Paul
Antle, President and CEO "this is a monumental volume of soil which we are fully
prepared to handle."


It is expected that the subcontract for Phase II will be executed by mid-April
2014 and commence immediately upon completion of Phase I. The main pesticide
contaminants to be removed from the soil are the carcinogens DDT, DDE and DDD.
The Company's TPS technology will safely extract all the organic compounds
present in the soil rendering it inert without producing any harmful emissions
and recovering all process water for treatment and reuse. 


"In China, Dadi has proven to be an excellent industry partner for us in the
field of soil remediation", said Antle. "Our staff work well together and are
building a great reputation for getting the job done. We are looking forward to
exploring other opportunities with Dadi in the months ahead."


"To put Phase II in perspective, the Company's soil treatment facility in
Wolseley, SK processed 16,000 tonnes over a 5-year period. Phase I and Phase II
together could total as much as 133,000 tonnes - an average sized project in the
Chinese market", said Antle.


About West Mountain

West Mountain is an established Canadian environmental solutions company
specializing in the thermal treatment of a variety of hazardous and
non-hazardous waste streams. Through its subsidiaries it employs a unique
indirectly heated, closed loop technology that allows it to extract even the
most hazardous contaminants from soil and industrial sludge converting much of
it into reusable oil and synthetic natural gas that it uses to sustain the
process. This methodology offers significant opportunity for greenhouse gas
reduction over traditional hazardous waste destruction technologies. The
Company's management team maintains expertise in hazardous waste management and
contaminated site remediation with experience spanning North America and 15
countries internationally.


About Dadi

Hangzhou Dadi Environmental Protection Engineering Co. Ltd. is a private hi-tech
environmental protection enterprise that focuses on contaminated site
remediation (including soil and groundwater remediation), and is the pioneer and
practitioner of the field in China. They have completed more than 70 site
investigation and remediation projects, and presided over and undertaken more
than 10 national and provincial research projects. Dadi and China Energy
Conservation and Environmental Protection Group ("CECEP") formed a joint venture
company named China Energy Conservation DADI Environmental Remediation Co., Ltd
("CECDADI") in December 2012.


CECEP is a state-owned enterprise, which is fully sponsored by the Chinese
central government. It is the only industry group whose main business is in the
field of energy conservation, emission reduction and environmental protection.
CECEP integrates planning, design, consulting, construction, equipment
manufacturing, investment and operation. The corporation forms a supporting
system that is focused on technology, funds and industries, and plays a critical
role to influence the energy conservation and environmental protection field as
a state-owned enterprise managed by the central government.


CECDADI is the only company that specializes in environmental remediation among
the CECEP's subsidiaries, and its business is a major part of CECEP's overall
business. The major business of CECDADI includes all processes of contaminated
site investigation and remediation, such as contaminated site investigation and
risk assessment, preparation of site remediation plans, implementation of site
remediation projects, environmental supervision of remediation processes,
operations and monitoring after site remediation.


Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this news release contains
forward-looking statements in respect of the volume of soil to be processed
under the Hangzhou Dadi Phase II subcontract and in general all soil volumes
whether domestic or international from any source. The forward-looking
statements and information are based on certain key expectations and assumptions
made by West Mountain, including expectations and assumptions concerning the
plan to be awarded contracts to treat such material. Although West Mountain
believes that the expectations and assumptions on which such forward-looking
statements and information are based are reasonable, undue reliance should not
be placed on the forward-looking statements and information because West
Mountain can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the removal and treatment of pesticide contaminated soils in
general, attempting to secure work, the uncertainty of estimates and projections
relating to the value of the subcontract, health, safety and environmental
risks, transportation costs, environmental risks, failure to realize the
anticipated benefits of the contract, failure to obtain required regulatory and
other approvals, and changes in legislation, including but not limited to
environmental regulations, and risks associated with doing business in China.
Readers are cautioned that the foregoing list of factors is not exhaustive. The
forward-looking statements and information contained in this news release are
made as of the date hereof and West Mountain undertakes no obligation to update
publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by
applicable securities laws.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts the
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mr. Paul Antle
President and CEO
709 726 0336
pantle@phaseparation.com
www.phaseparation.com

1 Year West Mountain Environmental Chart

1 Year West Mountain Environmental Chart

1 Month West Mountain Environmental Chart

1 Month West Mountain Environmental Chart