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.