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SLUP Solucorp Industries Ltd (CE)

0.000001
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Solucorp Industries Ltd (CE) USOTC:SLUP OTCMarkets 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% 0.000001 0.00 01:00:00

Solucorp Installs Mercury Emission Control Technology Test System in Working Coal Fired Energy Plant; Project Moves from Design

21/09/2006 2:02pm

Business Wire


Solucorp Industries (CE) (USOTC:SLUP)
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Solucorp Industries, Ltd. (OTC:SLUP) announced that the installation process is underway for the mercury emission control test system it designed and configured for the working coal-fired power plant of a major U.S. utility company. As previously announced, Solucorp has an agreement with this publicly traded, global power generation company to integrate, for the first time, Solucorp's Integrated Fixation System (IFS) Mercury Emission Control technology into one of its coal-fired power plants. Solucorp's IFS technology is designed to reduce coal-fired mercury emissions below federal mandated regulations. IFS also remediates the fly-ash residue generated by these furnaces. The completed test system design is the result of the efforts of a team comprised of the power plant engineers, energy consultants and Solucorp scientists. The installation is expected to be completed within six weeks. The results of the three-week test will be compiled and reported before the end of 2006. Under the terms of the Agreement, the coal-fired utility was not identified. Richard A. Runco, President of Solucorp Industries, Ltd., said, "This first-of-its-kind solution can save the coal burning industry hundreds of millions of dollars in failing emission control costs. Congress, the Environmental Protection Agency (EPA), the Department of Energy (DOE), as well as power plants have often expressed a belief that there is currently no solution to the coal burning/mercury dilemma. Solucorp contends that its IFS technology is in fact a viable, cost-effective solution. The company's confidence stems from a Computational Fluid Dynamics (CFD) modeling report indicating that the IFS technology is capable of dispersing within the flue gas stream, allowing the technology to make contact with both ionic and elemental mercury. We believe that successful test results will conclusively establish our technology as a viable, cost-effective solution." Noel E. Spindler, President of Integrated Fixation System, added, "Our goal is to showcase the first coal burning power plant to emit fewer environmental pollutants than found with existing plants and technologies. Our solution will greatly reduce the industry's need to expand oil burning power facilities to replace coal facilities, an action being considered by certain states, as reported by the Boston Globe, October 22, 2005." The domestic coal burning power plant industry consists of approximately 1,300 coal-fueled power plants supplying 50% of the electrical power plant energy requirements. According to the NY Times, March 1, 2006, there are also 17,000 factories, refineries and chemical plants that emit millions of tons of pollutants into the air. Coal is plentiful but polluting, and an energy hungry world anxiously awaits a solution to clean the mercury-filled emissions generated by this fossil fuel. The negative impact of closing coal burning power plants would have a catastrophic effect on our energy supply and our way of life, and would further increase our dependence on foreign oil. U.S. power plants' annual spending will exceed $40 billion by 2010 in an effort to eliminate environmental hazards, which include mercury emissions. (Energy Information Administration, DOE data). Solucorp has begun negotiations with several regionalized toll-processing facilities to manufacture its IFS Mercury Emission Control product. The company has already begun to market this technology to its current client base, distributors, representatives and joint venture partners in Italy and China. About Solucorp Industries, Ltd. Solucorp Industries, Ltd. (www.solucorpltd.com), is a developer and provider of patented, cost-effective and permanent technologies for the remediation and prevention of hazardous heavy metal contamination. The Company's patented Molecular Bonding System (MBS(R)) technology is currently successfully remediating hazardous heavy metals from soils on site, and has generated in excess of $3.5 million in revenue for the Ravenna, Italy site. Solucorp Industries, Ltd., operates three wholly owned subsidiaries: Solucorp Industries, Integrated Fixation System Company Inc., and WITS, Inc. The foregoing discussion contains forward-looking statements, which are based on current expectations. Actual results, including the timing and amount of revenues recognized, contracts awarded and performed and net income may differ due to such factors as: delays in payment on contracts due to dealings with governmental and foreign entities; fluctuations in operating costs associated with changes in project specifications; economic and other conditions affecting the ability of prospective clients to finance projects; and other risks generally affecting the financing of projects. Investors are cautioned to perform a proper due diligence and consult licensed professionals prior to making an investment decision.

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