Pacific Green Technologies Agree to Distribute Additional Environmental Technologies Through the POWERCHINA SPEM Joint Venture
March 22, 2016 8:30 AM
????SAN JOSE, CA / ACCESSWIRE / March 22, 2016 / Pacific Green Technologies China Limited ("PGTC") a subsidiary of Pacific Green Technologies Inc. (PGTK) is pleased to announce that PGTC and POWERCHINA SPEM Co., Limited ("POWERCHINA SPEM") have agreed to identify and source complimentary new environmental technologies alongside the ENVI emission systems to be distributed through theCommercial Joint Venture Agreement ("JV") in the China market.
The JV partnership which is marketed in China as "Pacific Green Technologies Power China SPEM" signed in November 2015 sets out the terms for PGTC and POWERCHINA SPEM to co-operate exclusively in the PRC for ten years to develop the ENVI-Clean™ and ENVI-Pure™ emission control systems to become the market leader in the Coal Fired Power, Steel Works, Cement Works and Waste to Energy industry sectors.
Alex Shead, Chief Executive of PGTC, commented: "We are setting up our joint offices in Shanghai and are in various stages of quotations to supply ENVI Systems to power plants with a combined output of 4,400 MWe. This reinforces our vision to be the market leader in the Emissions Control sector inChina."
Ken McClelland, inventor of the ENVI emission control systems and PGT's Head of Technical Services said: "The profile of emissions and other environmental controls is clearly at the top of China's industrial agenda today. It makes sense for us to develop a 'one stop shop' of industry leading emission control technologies in partnership with POWERCHINA SPEM. Since our original JV announcement we have been approached to represent numerous western technologies into China through our State Owned Enterprise relationship and now with POWERCHINA SPEM's directive we can see vast scale of economic benefits as we expand."
Neil Carmichael, Chief Executive of Pacific Green Technologies Inc., commented: "Our JV platform gives us an ideal structure for the distribution of other environmental technologies. Given the often reported difficulties that western companies encounter in China we are confident that this will be a great opportunity for PGT to leverage its relationship with one of the largest state owned enterprises in China."
About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focussed on addressing the world's need for cleaner and more sustainable energy. The company's strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting edge technologies designed to meet increasingly stringent environmental standards.
For more information, visitPGT's website:
www.pacificgreentechnologies.com
Contact:
Neil Carmichael, President and Director
Pacific Green Technologies
T: +1 (408) 538-3373
About POWERCHINA SPEM Co. Ltd.
POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGTtechnologies throughout the PRC.
Contact:
Mr Lin Yongxiang
Deputy General Manager, Chief Engineer
POWERCHINA SPEM Co., Ltd.
