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SMS Sustainco Inc

0.25
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sustainco Inc TSXV:SMS 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% 0.25 0.205 0.25 0 01:00:00

SustainCo Inc. Enters Into Agreement With Cennatek Bioanalytical Services Inc. to Develop Biomass Projects Featuring the Biol...

18/03/2014 1:30pm

Marketwired Canada


SustainCo Inc. (the "Company" or "SustainCo") (TSX VENTURE:SMS), through its
wholly owned Clean Energy Developments group, is pleased to announce that it has
entered into an agreement with Cennatek Bioanaytical Services Inc. ("CENNATEK")
to provide a loan instrument of up to $500,000 towards the development of its
brand of BioLiNE(R) biomass projects. BioLiNE converts agricultural waste and
marginal vegetation such as cattail into liquid fertilizer and high quality
biomass fibre. 


"This investment is more than securing access to capital; for CENNATEK it is
about building a relationship with SustainCo, a management team that shares our
vision, and has the knowledge and capacity necessary to facilitate the
dissemination of our BioLiNE process," stressed Mohammad Rahbari, President of
CENNATEK. 


SustainCo secures several key conditions in the agreement, including providing
SustainCo with a 5% earned equity interest in CENNATEK, as well as SustainCo
securing the right of first refusal to provide development solutions and
services that includes engineering, project management, comprehensive site
energy work, and operations and maintenance work required for all of CENNATEK's
projects. From a financing perspective, SustainCo secures an additional right of
first refusal to invest in each project at project finance.


CENNATEK has an active list of BioLiNE biomass projects in development.

"This investment is our first step to becoming a vertically integrated leader in
the full stage development of sustainable solutions. We believe that partnering
with Cennatek, a group that shares our vision for sustainable development,
creates a strong partnership for the long term development of biomass
Facilities. For SustainCo we are deploying strategic capital that will lead to
the future development of multiple biomass facilities where SustainCo can become
the designer, developer, and long term servicer of these facilities through our
Solutions and Services group," stated Emlyn David, CEO of SustainCo.


About CENNATEK

CENNATEK is a technology development company with primary focus on industrial
applications for agricultural biomass including biofuels and bio-based specialty
chemicals. The company has been in business since 2008, conducting its research
and development at the Western Sarnia-Lambton Research Park laboratory
facilities. CENNATEK developed the BioLiNE process to produce high value liquid
fertilizers from low-cost, easily available agricultural residues at a fraction
of the expense of conventional methods. The fiber remaining after mineral
extraction makes an efficient fuel pellet able to meet EU industrial grade fuel
pellet standards. Research and development for the BioLiNE is complete, with a
process patent pending. CENNATEK is developing projects to utilize the BioLiNE
technology.


About SustainCo Inc.

SustainCo is a leading provider of sustainable infrastructure solutions and
services. SustainCo operates through its two groups, CleanEnergy Developments
and SustainCo Solutions & Services.


CleanEnergy Developments is an early stage developer and investor in clean and
renewable energy projects with experience in wind, solar, biomass, and thermal
energy projects. CleanEnergy Developments provides strategic capital, funding
management, and execution expertise. 


SustainCo Solutions & Services provides comprehensive building performance
services, incorporating full life cycle asset optimization, finance, design,
build, operations and maintenance services for new build and retrofit
facilities. Specifically, it provides: engineering services, building automation
controls, performance monitoring, energy and lighting retrofits, mechanical and
electrical installation and services, thermal energy systems, and operations and
maintenance services for multi-residential and ICI facilities.


With headquarters in Toronto, SustainCo has offices across Canada including,
Halifax, Montreal, Pembroke, Ottawa, Vaughan, Toronto, and Calgary. For more
information, visit www.sustainco.ca.


Certain statements in this press release are forward-looking statements. The
reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect. Forward-looking statements, specifically
those concerning future performance and other statements that are not historical
fact, are subject to certain risks and uncertainties, and actual results may
differ materially from the Company's plans and expectations. These plans,
expectations, risks and uncertainties are detailed herein and from time to time
in the filings made by the Company with the TSX Venture Exchange (the
"Exchange") and securities regulators. The Company does not assume any
obligation to update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law. Trading in the securities of the Company should be considered highly
speculative. All forward-looking information contained in this news release is
expressly qualified in its entirety by this cautionary statement.


Neither the Exchange, nor its Regulation Services Provider (as that term is
defined in the policies of the Exchange) accepts responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
SustainCo Inc.
Emlyn David
President, Chief Executive Officer and Chairman
(416) 840-5002
www.sustainco.ca

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