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2006-11-17 21:02 ET - Street Wire
From Street Wire (C-*SEC) U.S. Securities and Exchange Commission
by Mike Caswell
The U.S. Securities and Exchange Commission has halted Digital Gas Inc., a Canadian-connected pink sheets listing, for allegedly inaccurate news. The halt, which came Friday, follows civil fraud charges filed last month by New Jersey Bureau of Securities, which claims Digital Gas was a pump-and-dump that lasted over two years.
That suit names Toronto lawyer William Brown and New Jersey businessman Brian Smith, who allegedly sold Digital Gas shares through nominees while writing bogus news releases. Prosecutors say they manipulated the price and demand for Digital Gas for their own benefit.
"Digital Gas was little more than a front for Brian Smith's illegal activities. Smith enriched himself at the expense of investors," said Stephen Nolan, acting director for the New Jersey Division of Consumer Affairs.
Mr. Smith allegedly used money from stock sales for renovations on his home, among other things. "Smith and Brown went to great lengths to rip off honest investors for their own personal benefit," said New Jersey Attorney General Stuart Rabner.
The stock reached a 52-week high of $1 this April as the company touted a deal with Halifax-based Pyrolmulsion Petroleum to convert "hydrocarbon waste streams" into environmentally friendly fuel. Then the company announced a wind energy deal based on "breakthrough ultracapacitor technology" that would outperform all other wind power systems. (All figures are in U.S. dollars.)
Meanwhile Mr. Smith and Mr. Brown were selling the stock, through a network of nominee shareholders, prosecutors claim.
Digital Gas, which was around 50 cents this summer, last traded at 10 cents. Prosecutors allege the company has no known bank accounts or revenue.
The company denies the allegations. In a news release, Digital Gas said it intends to fully co-operate with authorities. "The company believes that these allegations are without merit and will vigorously defend the interests of its shareholders," the company said.
After the New Jersey charges came out last month, the company carried on, business as usual, it appears. One week later, it announced a deal with a Detroit company to invest in a tire recycling project.
It seems that earned it some attention from the SEC.
In today's halt notice, the regulator says the tire recycling news release may be misleading. While it does not give details, it claims there are questions about its accuracy. "The commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of [Digital Gas]," the SEC's notice reads.
The company could not be reached for comment. Its investor relations number takes callers to an answering machine with no more room for messages.
The halt expires in 15 days, unless the SEC extends it.
2006-10-24 15:55 ET - News Release
NEW YORK, Oct. 24, 2006 (PRIMEZONE) -- Digital Gas, Inc. (Pink Sheets:DIGG) announced today that it has signed an agreement with Techno Rubber, Inc. of Detroit, Michigan to commercialize tire, medical and other waste streams.
Techno Rubber, which has been actively discussing a partnership with Digital Gas for several months, has 5.5 permitted acres in Detroit, Michigan that will have a capacity to process seven million tires annually after an expansion of its present 12,000 square foot industrial building from a planned 42,000 square foot facility.
Phase One of the above project involves processing tires through the cutting and chipping of the tires and the subsequent resale to end-users, such as local power plants. Phase Two of the project involves processing through hydrocarbon recovery and either using the hydrocarbons for electric generation or resale of it to end-users. The present permit covers the cutting and chipping of the tires and their resale to end-users (Phase One) and not the recovery of hydrocarbons (Phase 2).
Techno Rubber can presently process one million tires with its existing building, equipment and land. This can be expanded to three million tires per year with an investment of an additional $500,000. Techno Rubber anticipates Phase One processing of three million tires in 2007. When the permits are acquired to recover hydrocarbons, anticipated to be issued by year-end 2007, all seven million tires will undergo Phase Two processing. This processing will lead to the recovery of oil, gas and carbon black.
A second waste processing operation is planned for medical waste on a 6 acre site several miles away. The second property has an existing 28,000 square foot industrial building with 30 foot ceilings. Permits are currently being prepared for this site as well.
Digital Gas will have 75% of the equity or common shares of the new joint venture and will provide management and financial services while the existing owners will run the tire processing operation. By signing the deal with Digital Gas, Techno Rubber has a partner that can access advanced tire processing technologies that can significantly expand profitability beyond mere cutting and selling of tires. In addition, since Digital Gas anticipates operating across North America and internationally, it opens up many opportunities for Techno Rubber not normally available to it. The management of Techno Rubber has agreed to cooperate fully with Digital Gas, its management and financial personnel, as well as its investment bank and banking contacts.
Digital Gas will form a Special Purpose Corporation ("SPC") to hold its 75% interest. The SPC, which will be formed as a fully reporting company to facilitate eventual trading on the public markets, will issue a $2.5 million promissory note to the present owners of Techno Rubber to compensate them for the purchase of the land, building and equipment, as well as for turning over the business and giving Digital Gas instant operator status in this potentially lucrative niche of the energy business. This subsidiary will not consider going public until a Phase Two business has been firmly established. The SPC will be formed in November, 2006 and Techno Rubber reports that full operation of Phase One processing could commence as early as December, 2006.
A request for funding Techno Rubber will be made to a U.S.-based energy funding group that has expressed interest in funding several of the company's subsidiaries. If funding for Techno Rubber is not available in the near-term, the business will proceed in December with Phase One processing of the projected minimum of one million tires per year. In that event Digital Gas will pay down the promissory note out of distributed profits. Techno Rubber will be responsible for the cost of the commencement of Phase One business activity.
There is no guarantee that funding for the expansion of Phase One processing or Phase Two processing by SPC will be obtained. However, the managements of both companies are optimistic regarding funding and the success of the business due to a strong, ready market for the processed tires with utilities in close proximity to the plant.
As part of the process of fully disclosing its assets, options and opportunities, including this deal with Techno Rubber, Digital Gas will engage an engineering or business valuation firm to prepare a report on the full nature of this business and its near-term and future potential, as well as that of its other subsidiaries. Support documents for the existence of Techno Rubber's tire processing permit will be posted to the Digital Gas website under "Assets". The permit Registration Number for the property in Detroit, Wayne County, Michigan is S-3-82-10015.
Regretfully, Benelux Capital has terminated its relationship with Digital Gas and its subsidiaries as a result of the recent Verified Complaint in the NJ Superior Court. After the termination the company thanked Benelux Capital for its efforts on its behalf.
Digital Gas had informed Benelux Capital on September 8, 2006 that it had received interest in providing funding for several of the subsidiaries from a U.S.-based source. Digital Gas informed Benelux at that time that it would pursue these funding avenues in an attempt to strengthen the basic financial position of the subsidiaries and would revisit opportunities with Benelux if and when this source provided investment. Digital Gas plans to contact Benelux at a later date for European-based and special funding provided the current action before the Superior Court is concluded in its favour.
CONTACT: Digital Gas, Inc.
Brian Smith
(732) 927-4073
2006-10-16 19:09 ET - News Release
NEW YORK, Oct. 16, 2006 (PRIMEZONE) -- Digital Gas, Inc. (Pink Sheets:DIGG) announced that on Tuesday, October 10, 2006 the company was named in a civil complaint filed by the state Attorney General's Office and the New Jersey Bureau of Securities for allegations of securities fraud. Also named were Brian Smith of Spring Lake, New Jersey and William Brown of Toronto, Ontario.
Digital Gas intends to fully cooperate with the Bureau in this matter. The company believes that these allegations are without merit and will vigorously defend the interests of its shareholders.
Issues raised in the suit, include the improper issuance of unregistered stock by Smith and Brown to themselves and their associates through the creation of false documents and the creation of false press releases designed to create the impression that the company is more then a shell corporation to inflate the price and demand for the stock.
Digital Gas, Inc., Smith and Brown were banned from the following: 1. any conduct in violation of the New Jersey Uniform Securities Law; 2. selling unregistered securities; 3. acting as unregistered broker-dealers and agents; 4. employing unregistered agents; 5. destroying or concealing documents; and 6. selling or promoting the sale of securities or issuing any press releases in violation of the securities law. The Order also froze the assets of Digital Gas and Brian Smith and his wife Lynn Smith, including real property, personal property, checking and savings accounts, brokerage and trading accounts, Digital Gas stock certificates, and all other assets.
A follow-up hearing is scheduled for November 3, 2006.
Shareholders will be updated either through press releases or at the company's website www.digitalgas.com when and as advised by its attorneys.
CONTACT: Digital Gas, Inc.
Brian Smith
(732) 927-4073
2006-09-21 09:16 ET - News Release
NEW YORK -- (Business Wire) -- Sept. 21, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
Digital Ultracap has accepted an invitation from its partner ICCU
Holding B.V. to participate in the first of several major energy
centers in Europe. ICCU is considering projects in several areas
including Germany, Poland, Portugal and Bulgaria. The projects are
eligible for World Bank funding and in fact the first selected
location has been pre-approved for funding. ICCU, which has already
decided on the first site, will make that announcement next month.
¶ The energy centers will contain a manufacturing complex for
"intelligent ultracapacitors" and solar panels made of polycrystalline
silicon to be manufactured for the European market and a bio-ethanol
facility. With Digital Ultracap now involved in the project, ICCU has
agreed to the expansion of the complex to include a Digital Gas energy
& farming center which will process local waste and provide food and
pharmaceutical products for European distribution. Other products and
technologies of Digital Gas will be incorporated into the project to
enhance profitability.
¶ The projects in any of the above countries can be executed
completely within 3 years of the start of facility construction and
will provide up to 1,500 jobs for the local communities that sponsor
them. Each project will have income within 18 months of start-up.
¶ BMW, Porsche and VW concluded a collaboration contract for the
development of hybrid drives. One of the considerations in locating
the first plant will be to be in proximity to large corporate
customers in the automotive and other industries.
¶ Ultracapacitors are anticipated to have a major role in the
automotive industry. In vehicles with conventional electric and hybrid
drives ultracapacitors will enable a more rapid acceleration and
higher scope, and they have a much longer life than conventional
battery systems. Furthermore, ultracapacitors can store the energy
available for braking or down hill rides directly as electric energy,
whereas conventional batteries would be overcharged through the
present high charging currents. Through the use of ultracapacitor
technology in the automobile industry, thousands of new jobs will be
created on a worldwide basis.
¶ The first five products to be marketed will be: 1. a hybrid system
for storing and balancing generated power (PV, Wind, and Fuel Cell);
2. a system for truck and automotive cold weather starts that will
improve performance in parallel with existing batteries; 3.
uninterrupted power supply systems for grid connected end users; 4.
power balancing and backup systems for hospitals, offices,
data-hotels, telecom, high-end power users and others; and 5. a system
for improving the quality of grid supplied power (frequency, voltage,
et cetera).
¶ This ultracap is better then other products and systems on the
market: because: 1. it is faster in storing and supplying power; 2.
the capacity per weight and volume as well as the efficiency is higher
than any other competitive product currently on the market; 3. all
other capacitors are cylindrical and consume more valuable space per
volume than our stretched-type ultracap; 4. the weight per volume is
less than the competition.
¶ In light of the above deal in Europe and to facilitate senior
funding of its subsidiaries, the management of Digital Gas has agreed
to form a holding company which will own the following subsidiaries:
Digital Ultracap, Digital Sofcell, Synfuel, Digital Electric and a
company to be formed which will be comprised of an aggregate business
with significant cash contracts. Digital Gas will retain control of
the holding company on a "post financing" basis and plans to
distribute shares in the holding company to then present shareholders
so that stock dividends can be paid if and when a decision is made by
the holding company to either go public on a senior exchange or
spinout its subsidiaries.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-08-02 12:12 ET - News Release
NEW YORK -- (Business Wire) -- Aug. 2, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
Benelux Capital has agreed to make formal introductions of Digital
Ultracap Corporation and Digital Sofcell Corporation to certain of its
investment and legal contacts. The process is expected to lead to an
application to list on AIM, the London Stock Exchange's international
market for smaller growing companies. Since its launch in 1995, over
2,400 companies have joined AIM - raising more than GBP 30bn in the
process, both through initial public offerings (IPO's) and further
capital raisings. Each subsidiary will initially seek $50 million in
pre-IPO capital that will be used to commence commercial operations in
2007 with breakthrough products.
¶ Digital Gas anticipates that all major utilities will use Digital
Ultracap's mass storage systems to reduce their current power
generation requirements. Energy experts estimate that power generation
capacity could be reduced as much as twenty percent through the mass
deployment of an efficient energy storage device. Such a device would
also alleviate grid bottleneck problems and provide for better
emergency backup power.
¶ For the residential and commercial market, Digital Ultracap will
introduce new state-of-the-art home air conditioning units in 2007
that will be less expensive than standard air conditioners, produce
zero noise levels inside and outside the home, as well as consume the
absolute lowest possible amounts of electrical power. These systems
will be assembled using environmental friendly and recyclable
materials. They will provide reduced humidity and will cool any given
outside temperature by at least 17 degrees. The units are
maintenance-free and produce zero emissions. The Digital Ultracap
units will even function during a temporary blackout when combined
with the company's breakthrough ultracapacitor technology.
¶ Digital Sofcell will be introducing a wide range of breakthrough
products over the next several years, including a low cost direct
carbon fuel cell system that can burn coal and similar fuels without
the emissions normally associated with a typical coal burning power
plant. These units will be "micro FutureGens" and will have a combined
heat and power efficiency of approximately ninety percent, which is
almost double that of the US Government sponsored FutureGen program.
¶ AIM is renowned worldwide for having a regulatory framework and
approach uniquely suited to smaller companies. International companies
recognize the unparalleled access to the global investment community
and capital-raising possibilities that come from having their
securities quoted and traded in London. Such capital-raising
possibilities and global investor reach is expected to launch Digital
Ultracap and Digital Sofcell on a path to attaining potential multi
hundred million dollar market capitalizations.
¶ "In our view, both Digital Ultracap and Digital Sofcell feature
compelling products and technologies in their respective industries
and we are pleased to assist them attain this potential," said Mark
Watson, Managing Director of Benelux Capital.
¶ About Benelux Capital Energy Group
¶ Benelux Capital's Energy Group is focused on identifying and
introducing equity capital for exceptional management teams in the
energy sector as well as secured financings of private and public
energy companies with emphasis on cash flow and collateral coverage.
¶ Digital Gas and its subsidiaries can benefit from Benelux Capital
Energy Group's expertise and extensive industry network in the
following target sectors: Oil and Gas Exploration and Production;
Midstream (gathering, processing, transmission and storage); Refining;
Power Generation/Distribution and Energy Infrastructure; Oilfield
Services; Pipelines/Storage; Oil and Gas Transportation; Drilling and
Completion; Renewable/Clean Energy and Alternative Power and
International Energy Opportunities in all sub-sectors.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-06-22 16:52 ET - News Release
NEW YORK -- (Business Wire) -- June 22, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that it signed an agreement with Carbon Recovery Corporation ("CRC")
of West Berlin, New Jersey, to collaborate on commercializing CRC's
advanced magnetic resonance technology.
¶ Carbon Recovery Corporation, using its proprietary technology, has
developed revolutionary techniques to recover oil and other valuable
raw materials from relatively untapped resources including oil shale,
oil sands, tires, municipal solid waste as well as other potential
sources such as coal and plastics.
¶ Digital Gas has entered into this agreement to augment its
products and technologies for itself and its present partners in oil,
gas and tire processing.
¶ Shale
¶ CRC's most recent tests of the technology on oil shale
demonstrated that oil can be extracted at a substantially lower cost
than previously thought possible. CRC reports that costs should go
down even further when the tests of the technology are run on its
newest test unit, expected to be delivered in July. Digital Gas
anticipates that the total cost may be significantly less then $10.00
per barrel based on tests to date.
¶ The National Institute for Resources and Environment estimates
that the worldwide supply of Oil in shale is 3.5 trillion barrels. The
US Department of Energy estimates that 2 trillion of those barrels are
in the United States. These figures are based on existing technology
which allows shale to be converted into oil at a rate of 15 gallons
per ton.
¶ Importantly, because of CRC's improvements in efficiencies, the
estimated worldwide recoverable reserves would increase to 6 trillion
barrels worldwide and 3.45 trillion barrels in the United States.
CRC's process allows for oil to be recovered in a gaseous state that
in turn can be fractionalized to gasoline worth as much as $90 a
barrel.
¶ Oil Sands, Oil Drill Cuttings, Slurry Oil
¶ Oil Sands, also known as tar sands, are deposits of bitumen, a
heavy, black viscous oil that must be rigorously treated to convert it
into an upgraded crude oil. The world's two richest deposits are in
Alberta, Canada and Orinoco, Venezuela. It is estimated that there are
1.5 trillion barrels of available oil from Canadian Oil Sands and 1.6
trillion barrels from Venezuela Oil Sands. This is far greater than
the entire Saudi Arabian oil reserves.
¶ Currently, about two tons of oil sand must be extracted, moved and
processed to produce one barrel of oil. The current process of choice
for extraction is Steam Assisted Gravity Drainage. The cost of this
process is exorbitant and has a considerable negative environmental
impact in terms of carbon dioxide gas released into the atmosphere.
CRC technology is expected to dramatically reduce this energy cost and
virtually eliminate the environmental impact.
¶ Oil drill cuttings are the waste product generated during the
drilling of oil wells. These cuttings are bits and pieces of oil
soaked soil and rock. A typical oil well can generate between 5 to 10
tons of cuttings an hour. Oil companies are currently paying
approximately $300 a ton to dispose of these cuttings. For offshore
oil operations, the cost can rise to as much as $1,000 a ton. The
disposal consists of nothing more than hauling away the cuttings and
either depositing them in landfills that accept such hazardous waste
or burning the material to remove the hydrocarbons.
¶ In its most recent tests, CRC has been able to eliminate all but
0.01% of the contaminants in these cuttings leaving clean fill that
can be redeposited into the ground or otherwise handled in an
environmentally compliant manner. The technology will be marketed in
portable units which can be placed on site, allowing the cuttings to
be immediately treated at the drilling site and eliminating the need
for storage and hauling.
¶ Slurry oil is refinery waste oil. It is waste oil that is too
thick to economically crack or reprocess with current technologies. At
least 3% (and in some refineries as high as 7%) of typical oil
refinery production is slurry oil. Using an average of 5% of
production, on a worldwide basis, refineries generate an estimated
minimum of 1.5 billion barrels annually. CRC's technology can cost
effectively crack this oil so that it can be fractionalized into fuel
oils. As with the oil cuttings, a CRC unit can be placed on site at
the refinery.
¶ Recyclables, Municipal Solid Waste
¶ Scrap tires are a significant problem worldwide and their disposal
presents significant environmental and safety hazards including fires,
overflowing landfills and pollution of the atmosphere. The CRC
proprietary process allows for the cost effective, environmentally
safe recovery of virtually all of the original chemical/mineral
materials from scrap tires. Utilizing the CRC process, each 20-pound
tire will yield 19.9 pounds of resalable materials.
¶ In the future, CRC plans to use this same technology to also break
down plastics. National Geographic Magazine estimates that 280 million
gallons of oil based products go into the landfills in the United
States each day. Economically recapturing the raw materials from just
a small fraction of these products will not only generate substantial
profits, but it will also positively impact the environment and reduce
landfill needs worldwide.
¶ Digital Gas has agreed to arrange funding for CRC's initial tire
project and to fund final development of one or more products and
technologies for oil and gas recovery from natural resources.
¶ In exchange for the aforementioned, Digital Gas may acquire equity
in CRC and/or one or more of its projects and will receive a
non-exclusive license to use the CRC magnetic resonance technology on
its own oil shale, oil sands and coal and recycling projects, as well
as in its Energy & Farming Centers.
¶ In addition, the companies have agreed to joint venture on Digital
Gas' coal and other hydrocarbon natural resource projects in
Pennsylvania, West Virginia and Kentucky. The two companies are
exploring additional opportunities both in the United States and
internationally.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-06-16 19:09 ET - News Release
NEW YORK -- (Business Wire) -- June 16, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
Digital Sofcell LLC, its subsidiary specializing in low-temperature
solid oxide fuel cell technologies ("LTSOFC"), was reorganized into
Digital Sofcell Corporation for funding purposes and to prepare for an
application to a senior exchange. Digital Sofcell Corporation will own
100% of the limited liability company which will henceforth be used
for financing purposes. A major law firm has been retained to
coordinate all funding and listing matters.
¶ The funding of Digital Sofcell Corporation will enable it to open
a manufacturing site for fuel cell stack and integrated system
production, as well as for future research and development. Digital
Gas management believes that the LTSOFC products and systems that it
will be manufacturing and marketing will be the leading products in
many major applications. The following provides basic information on
the current status of the products which will be ready for initial
product introduction within the next twelve months.
¶ Four advantages of the LTSOFC products and technologies are that:
1. they will operate at lower temperatures than other SOFC
technologies thereby avoiding expensive materials in SOFC stack and
system construction, significantly reducing final product cost; 2. the
LTSOFC materials are based on plentiful natural resources and are
fully patented as to composition and process, which will also
significantly reduce final product cost; 3. existing joint venture
relationships already provide technical, manufacturing and supplier
advantages; and 4. the LTSOFC products and technologies have been
patented in all major industrial nations worldwide. This unique
LTSOFC, based on patented materials and processes, insure that future
fuel cell products will maintain the highest commercial competitive
advantage.
¶ The first five products to be marketed include: 1. 1-5 kW units
for home power generation (combined heat and power - "CHP"), which
will make users grid independent; 2. 3-10 kW units for light or hybrid
transportation vehicles; 3. 1-10 kW on-board APU (Auxiliary Power
Unit) for cars, trucks, ships, trains, as well as related devices and
systems; 4. 20 kW or more units for district CHP supply, as well as
for alternative sustainable power sources, such as solar energy, wind
energy, et cetera, to provide independent CHP grid and sustainable
green energy; 5. less than 1 kW units for various electronic devices
and equipment, i.e. stand-by power supplies, laptops, et cetera.
¶ These products and technologies are superior to other products and
systems on the market because: 1. the LTSOFC will be the least
expensive technology on the market by a significant amount; 2. the
cost advantages associated with this price breakthrough can be
obtained at even small production levels; 3. the LTSOFC will be of the
highest quality and made with the best materials available; 4. the
unique patented composite materials and technologies combine two ionic
resources to enhance the fuel cell output (the fuel cell current is
proportional to the transported ion numbers); and 5. the quality and
strengths of the strategic partnerships employed to manufacture and
market the products, technologies and systems.
¶ The Digital Sofcell LTSOFC technology is endorsed by a leading
automotive parts manufacturer. This and other significant support
information will be made available only through the company's legal
counsel and only within the context of a major funding commitment.
¶ Digital Sofcell Corporation now joins the other four Digital Gas
subsidiaries that are actively sourcing appropriate bridge and project
funding from institutional and other investors, as well as considering
possible applications to a senior exchange.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-06-15 14:27 ET - News Release
NEW YORK -- (Business Wire) -- June 15, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
Digital Ultracap LLC was reorganized into Digital Ultracap Corporation
for funding purposes and to prepare the ultra-capacitor subsidiary for
an application to a senior exchange. Digital Ultracap Corporation will
own 100% of the limited liability company which will henceforth be
used for financing purposes. A major law firm has been retained to
coordinate all funding and listing matters.
¶ The funding of Digital Ultracap Corporation will enable it to open
a manufacturing site it has chosen for ultracap production. Digital
Gas management believes that the ultra-capacitor or "ultracap" it will
be manufacturing and marketing will be the leading product in its
class in many major applications. The following provides basic
information on the current status of the products presently ready for
market.
¶ Five advantages of the ultracap product are: 1. The ultracap will
reduce grid supplied peak power demand as low-cost off-peak power can
be stored inside the ultracap for delivery at peak time; 2. The
ultracap can be used in any grid connected or Renewable Energy hybrid
power system (PV, Wind, et cetera) for power storage and power
balancing (peak-shaving); 3. The ultracap will have the lowest cost
per kW and kWh and an extremely long lifespan (decades) without any
significant degradation; 4. The ultracap is an environmental friendly
power storage system as it uses no hazardous materials or chemicals;
and 5. The ultracap's widespread use will eliminate brown-outs and,
depending on the installed capacity in any particular area, there will
be no more black-outs.
¶ The first five products to be marketed will be: 1. a hybrid system
for storing and balancing generated power (PV, Wind, Fuel Cell); 2. a
system for truck and automotive cold weather starts that will improve
performance in parallel with existing batteries; 3. uninterrupted
power supply systems for grid connected end users; 4. power balancing
and backup systems for hospitals, offices, data-hotels, telecom,
high-end power users and others; and 5. a system for improving the
quality of grid supplied power (frequency, voltage, et cetera).
¶ This ultracap is better then other products and systems on the
market: because: 1. it is faster in storing and supplying power; 2.
the capacity per weight and volume as well as the efficiency is higher
than any other competitive product currently on the market; 3. all
other capacitors are cylindrical and consume more valuable space per
volume than our stretched-type ultracap; 4. the weight per volume is
less than the competition.
¶ Digital Gas has engaged Benelux Capital to source appropriate
bridge and project funding from institutional and other investors for
three subsidiaries, Synfuel Corporation, Great Lakes Energy & Farming
Corporation and Digital Electric Corporation. Digital Ultracap
Corporation will ask Benelux Capital to source funding for the
acquisition of the ultracap manufacturing facility and for the
commencement of commercial operation.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-05-17 15:45 ET - News Release
NEW YORK -- (Business Wire) -- May 17, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
its Synfuel Corporation oil and gas production enhancement subsidiary
has named Paul McConnell of Lansing, Michigan as its Executive
Director of Exploration & Production.
¶ Mr. McConnell, who formerly worked for Shell Oil Company as an
engineer, has hands-on experience in all forms of operations,
supervision and engineering associated with the oil and gas business
including drilling, completions, pipelines, facilities, reservoir, and
operations. He has a BS in Petroleum Engineering from the University
of Oklahoma.
¶ Mr. McConnell, who has significant experience working on difficult
shale, coal, and heavy oil projects, will be in charge of Digital's
day-to-day oil and gas business. He is also an OSHA certified
environmental specialist.
¶ Mr. McConnell currently runs his own engineering and consulting
companies, McConnell Engineering and McConnell Consulting Inc. of
Lansing, Michigan. He specializes in conventional, directional, and
horizontal drilling; well completions; stimulation and fracture
techniques; pipeline design and construction supervision; oil and gas
facilities; oil and gas performance predictions, economic forecasts
and reserve estimates; flow and injection testing; injection and
disposal wells; supervision of operations and cost control;
groundwater and soil pollution investigation and remediation;
hydro-geologic studies; and environmental investigations and reports.
¶ Commenting on the appointment, Mr. McConnell stated, "I am pleased
to be part of the Digital Gas team. I will immediately utilize my
industry contacts to assist the company in developing a world class
oil and gas exploration and production capability."
¶ Stating his reasons for joining Digital Gas, Mr. McConnell
indicated that he was, "impressed by the wide array of clearly
advanced energy products and technologies that Digital Gas and its
operating subsidiaries will deploy in solving modern energy problems."
He added, "the fuel cell oil and gas recovery enhancement technology
is decidedly a superior system to all conventional systems which must
be continuously supplied with fuel considering both economic and
environmental factors."
¶ On a related matter, Digital Gas is pleased to announce that
Benelux Capital is proceeding with the first three proposed financings
for Digital Gas subsidiaries. Mark Watson, Managing Director of
Benelux Capital commented, "we are impressed with the business of
every subsidiary presented to us by Digital Gas and are anticipating
early closings on all pending fundings."
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.
2006-04-17 14:12 ET - News Release
NEW YORK -- (Business Wire) -- April 17, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
its Digital Electric subsidiary has signed an agreement with
International Trade and Technology Centre Ltd. of Dublin, Ireland. The
agreement gives Digital Electric the exclusive right to manufacture
and market a breakthrough wind energy technology that is anticipated
to deliver a return on investment that is significantly greater than
conventional wind power generation systems.
¶ Digital Electric also has the right to purchase all collateral
patents and rights to the new wind energy system on a worldwide basis.
The company points out that the new wind energy systems will have
several features that differentiate them from conventional wind
generator technology, resulting in approximately 35% greater power
output at 10% less cost per unit.
¶ Significant efficiencies in capturing wind energy over the widest
range of wind profiles are created by using a series of self-adjusting
multiple hydraulic pumps and multiple variable speed generators. By
transmitting power from the wind blades hydraulically to turbine
generators located at ground level, the cost of maintenance is
dramatically reduced.
¶ With ground-based generators, less sensitive equipment and low
maintenance components, this new wind generator technology will have
significantly lower operating costs and can be readily serviced
without the need for highly trained technicians. The modular design of
the system allows for the installation of additional generators as
required.
¶ The new wind energy systems technology will materially decrease
the capital and maintenance costs of wind power systems, while
substantially increasing their energy output. This combination of
benefits results in a reduction in the cost per kilowatt hour to below
two cents compared to the best performance of conventional wind
turbines using the best available equipment that produce electricity
at approximately four cents per kilowatt hour. Dollar for dollar, the
return on investment of the new system will be at least 25-30 percent
better on an annual basis. In addition, the new system will have a
life span of approximately thirty years, compared to twenty years for
conventional systems, substantially contributing to the overall
superior profitability of Digital Gas' new system.
¶ Digital Gas intended to enter the wind energy market via its
breakthrough ultracapacitor technology that allows wind energy systems
to store electricity cheaply until it is needed. This new
ultracapacitor technology has performance numbers that sets it several
years ahead of the current market leader in ultracapacitor products.
With the synergy of its new wind energy technology combined with its
ultracapacitor, Digital Gas offers wind energy investors, including
major utilities and private investor groups, an exceptionally short
amortization on their renewable energy investments.
¶ Digital Gas has already commenced sales and marketing activities
in Australia, India, China, Canada and the United States and
anticipates significant initial orders within the next several months.
¶ To further its position in the wind turbine market Digital Gas
will also aggressively enter into the wind energy conversion market.
Digital Gas intends to demonstrate to current wind generator system
owners and developers the benefits of upgrading their systems with its
advanced synergistic upgrade. This will result in dynamic growth
opportunities for Digital Gas and Digital Electric on a worldwide
basis.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2006-04-13 19:26 ET - News Release
NEW YORK -- (Business Wire) -- April 13, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that the company has signed an agreement to enter the hydrocarbon
reconstitution and bio-augmentation market by partnering with
Pyrolmulsion Petroleum Products Inc. ("P3") operating out of Halifax,
Canada. Digital Gas, which will provide technology and access to
funding, will own 50% of P3 when the transaction closes.
¶ P3's business will be to receive and convert vessel generated
hydrocarbon waste streams into useful and more environmentally
friendly power generation fuels on a worldwide basis.
¶ The waste streams, once characterized, form the basis for the
pyromulsion fuel combinations. P3 uses proven technology, combining
hazardous waste management know-how with chemical formulation and
microbial (bioaugmentation) know-how.
¶ The P3 reconstituted hydrocarbons will be used to promote combined
heat & power opportunities (e.g. via solid oxide fuel cells) in an
eco-efficient, environmentally sustainable manner.
¶ P3 facility designs are fully consistent with the principles of
pollution prevention established by the Canadian Council of the
Ministers of Environment and mirror the Design for Environment (DfE)
guidelines established by Canada's National Research Council.
¶ P3's CEO David Miller said, "Hydrocarbons, in whatever form, are
useful. The degree of cleanup varies. With the energy technologies
that Digital Gas provides to P3's equations, the real meanings of
eco-efficiency and sustainability can be well demonstrated. Carbon
credits will only be a further bonus."
¶ P3 expects to be announcing the location of its first facility
within the next thirty days. It expects to commence operations once
the appropriate regulatory protocol and permitting processes are
obtained. The environmental assessment processes are now essentially
complete.
¶ To augment profitability, P3 intends to incorporate Digital Gas
energy & farming centers at each of its sites. Each center will take
in a variety of biomass materials and produce ethanol, butanol and
nutraceuticals using a breakthrough biomass processing technology
being brought to the deal by Digital Gas.
¶ P3's CEO David Miller added, "Digital Gas has the widest variety
of cutting edge energy saving products and technologies of any company
we reviewed, including major companies. In order to further drive the
profitability of P3, we are currently developing a variety of projects
in the energy and natural resource fields for Digital Gas in Canada
and worldwide."
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2006-03-07 02:07 ET - News Release
NEW YORK -- (Business Wire) -- March 7, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that its oil shale technology development partner has concluded
negotiations with an operator of a major U.S. Department of Energy
laboratory for further development of the fuel cell system the two
companies will seek to commercialize. Exclusive product development
and intellectual property agreements were signed by the operator of
the laboratory.
¶ After an extensive due diligence process, in which numerous fuel
cell and other research laboratories were interviewed and considered,
our partner determined that this Department of Energy laboratory
presented the ideal mix of laboratory, scientific and engineering
expertise and was particularly impressed with the operator's
background and strengths in the areas of fuel cell development,
geothermic modeling and reservoir analysis needed to support the fuel
cell system, with initial emphasis for use in this country's vast oil
shale resources.
¶ The comprehensive Statement of Work includes detailed computer
modeling to optimize efficiencies of the system and establish design
parameters for commercialization and various stages of bench testing,
culminating in the development and demonstration of a working product
ready for "in situ" oil shale applications.
¶ Digital Gas plans to introduce its partner, as well as their
strategic partners and first major clients, in a joint press release
in several weeks announcing several new developments, including
property acquisitions, strategic alliances, major funding and a public
service information website regarding energy savings, resource
production enhancement and the environmental benefits of using the
products and technologies of Digital Gas and its partners.
¶ This fuel cell system represents a breakthrough approach for
unconventional oil recovery. The system utilizes high temperature
solid oxide fuel cells to slowly heat the oil shale formation in an
"in-situ" manner. The heat travels through the rock, pressurizing the
underground formation, lowering the viscosity of the oil in the shale,
while creating "off-gases" of high quality. Both the oil and gases are
moved into collector wells, where they are extracted by conventional
means.
¶ The compelling innovation of the system is that it is designed to
run off the gases that are derived from the heated oil shale formation
itself. By using a portion of the gases generated during the process
as its fuel, the fuel cell system thus becomes self-fueling. It also
produces electricity as a by-product. As a result, this technology
simply offers a better net energy balance than other unconventional
oil recovery methods. In addition, this is all accomplished without
the major environmental impacts associated with oil shale mining or
surface retorting alternatives.
¶ The Department of Energy laboratory and its operator have taken a
leadership role in solid oxide fuel cell development by virtue of
their substantial contributions to the Solid State Energy Conversion
Alliance (SECA) with the ultimate goal of bringing low-cost solid
oxide fuel cells to the market place. SECA is a collaborative alliance
between several major federal labs, U.S. industry, universities and
other research organizations.
¶ The uniqueness of this fuel cell system is that it utilizes solid
oxide fuel cell technology designed for its heat, with the electricity
being a by-product. Unlike all other fuel cell applications, where the
heat is considered "waste" that must be mitigated or managed, this
approach embraces the heat. Nearly every BTU of energy that goes into
the fuel cell system comes out as either heat or electricity, both of
which can be put to immediate use. The end products -- shale oil,
natural gas and electricity -- can all be used on site or sold into
national energy markets. Nothing goes to waste.
¶ Digital Gas encourages those with interests in oil shale
development - landowners, strategic parties, and prospective investors
- to contact the company to discuss possible relationships of mutual
benefit.
¶ Digital Gas is also pleased to announce that it has received a
letter commitment to provide a collateralized short-term bridge
financing followed by a structured financing for a target investment
in the quarry business, subject to due diligence. Management is in the
process of deciding where to utilize this offer.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2006-01-27 10:55 ET - News Release
NEW YORK -- (Business Wire) -- Jan. 27, 2006
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that seven (7) of its subsidiaries have entered agreements with
Benelux Capital to assist with bridge, acquisition and project
financings to facilitate continued organic and inorganic growth and
development. Benelux Capital provides a full range of financing and
M&A services as well as access to key strategic relationships.
¶ The subsidiaries that signed agreements with Benelux Capital are:
Digital Sofcell, Digital Ultracap, Digital Energy & Farming, Digital
Energy & Farming Asia, Green Harbour Energy & Farming, Mint Condition
and Digital Electric. Digital Gas anticipates that Great Lakes Energy
& Farming and a newly formed company for the commercialization of
shale, tar sands, coal bed methane and heavy oil properties will sign
with Benelux in the coming weeks. In addition to the bridge and other
fundings anticipated from Benelux, the company will ask Benelux to
coordinate all present financing offers.
¶ Digital Gas is pleased to enter into this relationship with
Benelux Capital which operates on a global basis and boasts strategic
partnerships in a variety of commercial businesses, including energy,
IT-enabled services and outsourcing. In fact, Digital Gas will rely on
Benelux Capital to structure and supply a worldwide network for the
sale of its products and the maintenance of its businesses. This is
particularly important for Digital Gas at the present time as the
company has formed Digital Sofcell Asia to commence fuel cell
activities in Asia that can include enhanced oil recovery in China,
India and other areas. It is anticipated that this presence will open
the door to investment from Asian oil and utility companies.
¶ "Digital Gas and its subsidiaries are strategically positioned
across a wide area in the energy and natural resource fields and
clearly have significant upside potential for rapid growth. We have
high expectations for the company. With its fuel cell based oil & gas
recovery technology, Digital's already impressive positioning in
alternative energy synergistically increases the potential to bring to
full production vast pools of oil & gas previously unrecoverable. We
are pleased to play a key role in helping Digital Gas bring their
products, technologies and services to the global marketplace," said
Mark Watson, Managing Director of Benelux Capital.
¶ Benelux Capital provides focused capital solutions. Leveraging a
comprehensive platform supported by extensive research, in-depth
knowledge, innovative thinking and access to capital, the firm
provides a fully integrated service across M&A, equity and acquisition
finance and works closely with high-potential companies to help them
become leaders in their industries. For more information, please visit
www.beneluxcapital.com
¶ Persons, companies or banking institutions with shale, tar sand,
coal bed methane or heavy oil properties should also contact
energei@optonline.net. Communities that would rather see coal gasified
in situ as opposed to being deep mined, should also contact Digital
Gas which is prepared to conduct retraining programs for miners and to
JV with mine owners.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-12-16 15:23 ET - News Release
NEW YORK -- (Business Wire) -- Dec. 16, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that it will form two energy related consortiums to commercialize
patented technology and create oil shale and energy savings
businesses.
¶ This was in response to an offer of an asset backed loan from a
private trust and strong interest being received to partner on Digital
Gas projects from major Fortune 500 companies.
¶ Collateral to facilitate a loan package, which Digital Gas has
been informed will be for a minimum of $300 million, has a certified
appraisal value of $577 Million, as well as having a financial Safe
Keeping Receipt (SKR) with full financial responsibility from Grupo
Cometra, a division of Grupo Seguridad Integral of Mexico. Grupo
Seguridad is the leading security firm in Mexico now in their 26th
year.
¶ The owners of the collateral are seeking to enhance their return
on properties already producing significant steady income. The
properties include residential, commercial, farming and vacant land
that Digital Gas may have the opportunity to develop as part of this
arrangement. This funding opportunity is in addition to the previously
announced asset backed funding for $30 million of which $5 million is
anticipated to close this month or early next month.
¶ As a result, Digital Gas expects to fund all of its businesses
within the next thirty to forty-five days of the submission of loan
documents, anticipated to be filed next week. Those businesses to be
funded are the following: waste-to-energy, fuel cell products and
technologies, mass storage products and technologies, bio-fuel and
farming operations, oil shale, tar sands and coal bed methane
extraction, tire processing, nanotechnology and environmental
remediation.
¶ In addition to the asset backed funding, Digital Gas will now seek
to fund each of the consortiums with an initial $1 Billion in equity
for development, commercialization and further acquisitions.
¶ With these investments in place, the Consortiums will seek to
raise the balance of $5 billion thought needed for the full expansion
of commercial activities through debt or convertible instruments.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-12-09 20:37 ET - News Release
NEW YORK -- (Business Wire) -- Dec. 9, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that it has signed an agreement to partner with a private US-based
company (PRIVATCO) that owns the exclusive rights to a high
temperature fuel cell (HTFC) method which is expected to dramatically
reduce the cost for oil and gas recovery from a variety of
unconventional hydrocarbon resources.
¶ The broadly-patented HTFC approach is designed to make it possible
to economically produce oil and gas from unconventional resources,
such as oil shale, tar sands, heavy oil deposits, and coal bed
methane, while producing electricity as a byproduct. Under the terms
of the agreement, Digital Gas intends to make an equity investment in
PRIVATCO, be responsible for drilling contract and funding matters on
PRIVATCO-controlled properties, and will have the right to use the
HTFC method on properties it acquires independent of PRIVATCO, subject
to a royalty payment. Digital Gas expects initial HTFC units to be
operational during 2006.
¶ PRIVATCO is currently accumulating mineral interests in the vast
oil shale reserves within the Green River Formation of Colorado, Utah
and Wyoming. Their proprietary HTFC technology will subsequently be
deployed to produce oil, other hydrocarbon products and electricity
for sale into North American energy markets. PRIVATCO has already
informed Digital Gas that on just one property of less than 2,000
acres that it owns the mineral rights to, 800 million to 1.1 billion
barrels of oil are expected to be recoverable.
¶ The environmental benefits of this breakthrough HTFC method are
compelling when compared to other retorting, strip mining, energy and
water consuming techniques for unconventional oil recovery. By
producing oil and other hydrocarbons from a resource "in-situ",
without significant air emissions or water usage, while simultaneously
producing "green" electricity, this HTFC technology will be well
received by those who seek to balance the growing demand for energy
with environmentally friendly processes.
¶ The contrast between the HTFC and previous geothermic approaches
to unconventional oil production is clear: the Net Energy Ratio (NER),
measuring the energy output in comparison to energy supplied, of the
HTFC approach is superior to other approaches being pursued for
unconventional oil recovery. For example, the estimated NER of the
HTFCs for oil shale production is approximately 7 (i.e., 7 units of
energy are produced for every unit used), whereas the in-situ
production approach currently being investigated by Shell in the
Piceance Creek Basin shale resource is claimed to have an NER of 3.7.
¶ A leading national research laboratory of the U.S. Department of
Energy has reviewed and endorsed PRIVATCO's HTFC approach, and is
following through on its interest by working to form a partnership
with PRIVATCO to develop the commercial versions of the HTFC
technology. In addition, PRIVATCO is currently involved in detailed
discussions with several major energy industry sector companies
interested in using this advanced technology for enhanced oil recovery
for oil shale, oil sands, coal formations, as well as depleted oil
fields.
¶ According to PRIVATCO, their HTFC technology will not only be
developed to liberate oil from shale, a resource estimated to contain
two trillion oil-equivalent barrels in the US alone (equal to about
eighty years of world oil supply at current annual consumption rates),
but can also be developed to allow the major oil-producing companies
to take a second look at properties now considered to be
non-commercial. Depleted oil fields in the US and elsewhere still
contain more than half of the hydrocarbons originally in these fields,
because the residual hydrocarbons are too viscous to extract with
conventional technology.
¶ The HTFC technology can also be developed for application to
accelerate and enhance recovery of coal bed methane, which has
suddenly experienced a spurt in interest and production volume because
of historically high natural gas prices. Digital Gas expects the HTFC
system to dramatically accelerate production for coal bed methane
companies. Since the HTFC produces electricity without any air
emissions, their deployment will create the equivalent of emission
free power plants. The electricity produced by the HTFC wells can be
used to power pumps used in pumping water out of coal bed methane
fields as well as powering compressors required to feed coal bed
methane into feeder pipelines. The fuel cells produce a very pure
carbon dioxide exhaust gas stream that can be either sequestered
underground or harnessed for industrial or agricultural applications,
such as the farming centers to be commercialized by a Digital Gas
subsidiary.
¶ With respect to the Canadian oil & gas market, which Digital Gas
intends to enter, the HTFC system will allow for the commercialization
of oil sands and oil shale formations that have too much overburden
for open pit operations.
¶ Anyone seeking additional information on PRIVATCO and this
breakthrough HTFC technology may submit written requests to Digital
Gas through email at energei@optonline.net.
¶ Persons, companies or banking institutions with shale, tar sand or
coal bed methane properties should also contact energei@optonline.net.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-11-30 13:26 ET - News Release
NEW YORK -- (Business Wire) -- Nov. 30, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that Entropic Energy LLC has signed an agreement wherein Digital
Energy & Farming (DEF) will be the principal contractor on all
projects it originates involving waste-to-energy, bio-fuel and
farming. This will apply to pending and future tax incentive
financings (TIF) and associated municipal financings which will
henceforth be placed in the name of DEF or a Special Purpose
Corporation formed for each project.
¶ Entropic Energy and Digital Energy & Farming have agreed to expand
their business relationship in several important areas of
environmental concern, including additional waste-to-energy projects,
tire recycling and landfill reclamation. The projects being pursued
include both US and international sites.
¶ A partner of Entropic Energy has a pending waste-to-energy
agreement with a government client in the Persian Gulf. Entropic has
introduced DEF to this project to establish an adjacent farming
facility.
¶ Several waste collectors in the US have expressed interest in the
Entropic-DEF alliance for its potential to reclaim landfill real
estate. DEF is presently negotiating with multiple landfill owners and
several contracts are pending.
¶ Entropic Energy is also directing several tire recycling business
opportunities to DEF. The first tire recycling business will be
located in East St. Louis and will involve a variety of income
strategies including oil and gas production and other by-products.
Additional contracts are pending in Michigan and Illinois.
¶ The landfill reclamation business will be organized as joint
ventures with municipalities and private owners. These joint ventures
will involve the processing of in situ waste as well as new waste.
Depending on how a given plant is scaled, the landfill will
effectively disappear with only an attractive and environmentally
friendly Energy & Farming Center remaining to handle newly created
waste.
¶ DEF's research has found that there were at least 20,000 landfills
in the US in 1978 vs. at least 3,000 today. The estimated disposal
costs average $100 per ton, excluding the cost of land and other
costs. The total nationwide disposal cost is estimated to be in excess
of $25 billion. DEF's plan is to completely change worldwide waste
disposal economics from a cost center to a profit center with
additional benefits to local communities such as job creation,
increased tax base, reduced food and drug costs, reduced energy costs
and enhanced benefits to the environment such as removing waste matter
from unlined landfills thus mitigating ground water contamination.
Additional benefit and revenue will be derived from the use or sale or
recyclables not useable by the Entropic process, including the use or
sale of enriched soil. It is estimated that there are as many as
100,000 closed and potentially environmentally dangerous landfills of
various sizes in the US. DEF will be pursuing this business, either to
remediate or reclaim the land for beneficial social use and for
profit. Prior to the commencement of any project, DEF will conduct
site characteristic studies to enable it to address all problems
associated with landfill reclamation thoroughly and systematically.
¶ DEF will work with private landfill owners to enable cleared
landfill property to be donated to the communities. As previously
mentioned DEF will reinvest 10% of its income for the construction of
facilities that further the health, education and welfare of the
respective communities.
¶ Other cities, towns or corporations that would like to partner on
future projects should contact energy&farmingcenters@digitalgas.com or
energei@optonline.net.
¶ In related news, Digital Energy & Farming has signed a joint
venture agreement for a major waste-to-energy plant in Canada that
will feature farming and bio-fuel operations and incorporate the
strategic use of fuel cells and ultracapacitors. DEF's joint venture
partner has applied for a significant government grant for the
project. Digital Gas will announce all of the details when government
and private funding is secured. This will be the first of many
projects that DEF's joint venture partner plans to develop and
commercialize in Canada.
¶ Digital Gas has been informed by its funding agents that initial
asset backed, interim and project funding will be concluded next
month.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-10-27 12:41 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 27, 2005
Please replace the release dated October 26, 2005 with
the following corrected version due to multiple revisions.
¶ The corrected release reads:
¶ EAST ST. LOUIS APPROVES $30 MILLION PLUS IN TIF FINANCING FOR
DIGITAL GAS FARMING CENTER AND WASTE-TO-ENERGY COMPLEX
¶ Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today that its
subsidiary, Digital Energy & Farming (DEF) has been informed by
Entropic Energy LLC that the $425 million synthetic coal, bio-fuel and
farming waste-to-energy industrial complex has been granted $30 plus
million in tax increment funding (TIF) by East St. Louis, Illinois.
¶ The funding, which is a direct infusion of cash for the project
without equity dilution or assumption of debt and which resolution
constituted official intent under the town's Treasury Regulations,
will enable the waste-to-energy project to proceed toward
commercialization with DEF's farming center the first project to be
launched with a minimum dedicated TIF financing of $7.5 million. As a
result of several late developments, including the notice that TIF
financing was pending, the farming center has received equity and
completion funding offers. The farming center, the high profit part of
the complex, can be commercial fifteen to eighteen months prior to the
bio-fuel and power plants.
¶ Austin Marshall, CEO of Entropic, commented that "these
waste-to-energy and farming centers are the wave of the future for
large cities and other communities hard pressed by rising energy
costs." Mr. Marshall thanked the Mayor's office and the City Council
for approving the TIF financing. Mr. Marshall informed the Mayor's
office that Digital Gas has committed to reinvest 10% of its net
income to further health, education and welfare projects within East
St. Louis.
¶ Digital Gas is operating in a support role to Entropic on this and
other projects. Its energy & farming centers utilize the low cost,
surplus thermal energy to support year-round hydroponics and
aquaculture, to produce cost-competitive, pesticide-free food,
pharmaceuticals and carbon-based industrial materials. This integrated
approach improves the quality of life of host communities by yielding
an abundance of clean energy, water, food and strategic materials,
while generating substantial profits for the company's investors and
strategic partners.
¶ Digital Gas and its subsidiaries can assist inventors and
companies in the energy savings area, that need final stage
assistance, to achieve commercial viability and profitability.
¶ Digital Gas is now positioned to launch the US "Sustainable Energy
Revolution."
¶ Any municipality or corporation that would like to partner on
future projects should contact energy&farmingcenters@digitalgas.com.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-10-26 19:45 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 26, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that its subsidiary, Digital Energy & Farming (DEF) has been informed
by Entropic Energy LLC that the $425 million synthetic coal, bio-fuel
and farming waste-to-energy industrial complex has been granted $30
plus million in tax increment funding (TIF) by East St. Louis,
Illinois.
¶ The funding, which is a direct infusion of cash for the project
without equity dilution or assumption of debt and which resolution
constituted official intent under the town's Treasury Regulations,
will enable the waste-to-energy project to proceed toward
commercialization with DEF's farming center the first project to be
launched with a minimum dedicated TIF financing of $7.5 million. As a
result of several late developments, including the notice that TIF
financing was pending, the farming center has received equity and
completion funding offers. The farming center, the high profit part of
the complex, can be commercial fifteen to eighteen months prior to the
bio-fuel and power plants.
¶ Austin Marshall, CEO of Entropic, commented that "these
waste-to-energy and farming centers are the wave of the future for
large cities and other communities hard pressed by rising energy
costs." Mr. Marshall thanked the Mayor's office and the City Council
for approving the TIF financing. Mr. Marshall informed the Mayor's
office that Digital Gas has committed to reinvest 10% of its net
income to further health, education and welfare projects within East
St. Louis.
¶ Digital Gas is operating in a support role to Entropic on this and
other projects. Its energy & farming centers utilize the low cost,
surplus thermal energy to support year-round hydroponics and
aquaculture, to produce cost-competitive, pesticide-free food,
pharmaceuticals and carbon-based industrial materials. This integrated
approach improves the quality of life of host communities by yielding
an abundance of clean energy, water, food and strategic materials,
while generating substantial profits for the company's investors and
strategic partners.
¶ Digital Gas and its subsidiaries can assist inventors and
companies in the energy savings area, that need final state
assistance, to achieve commercial viability and profitiability.
¶ Digital Gas is now positioned to launch the US "Sustainable
Revolution."
¶ Any municipality or corporation that would like to partner on
future projects should contact energy&farmingcenters@digitalgas.com.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-10-19 14:11 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 19, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that its subsidiary, Digital Energy & Farming (DEF) signed a new
agreement with Entropic Energy LLC that enables it to be the lead in
the $425 million waste-to-energy complex to be located in East St.
Louis, Illinois. The agreement also increases Digital's stake in the
farming center from 50% to 80% and allows Digital to earn up to 30% of
the equity in the other projects in the complex.
¶ According to Mr. Austin Marshall, CEO of Entropic Energy, "the
farming center is the high profit part of the complex and can come on
stream twelve to fifteen months prior to the fuel and power plants.
The facility will produce a wide variety of foods, pharmaceuticals,
strategic substances and ready-to-market products. It is the
centerpiece of the complex." DEF has been advised by Entropic that
anywhere between $20-40 million in TIF funding will be approved for
startup.
¶ The proposed $425 million center is within East St. Louis, a
suburb of St. Louis in need of investment. Mr. Marshall commended the
Mayor's office and the City Council for their support and cooperation.
The proposed development is anticipated to significantly increase the
city's housing stock for low and moderate income families, the city's
assessed valuation and allow the city to dispose of wastewater
treatment plant sludge. Being a "TIF District," East St. Louis
receives all of the taxes on the increased value of developments
within the district. The increased revenues can only be used for
developments within the district.
¶ Entropic's patented technology produces a clean-burning, high
energy fuel derived from the widest variety of processed waste. The
product has the same BTU value as high-grade coal without emitting the
impurities (e.g. sulfur, mercury, etc) associated with coal.
Furthermore, the product is fifty to eighty percent more combustion
efficient than refuse-derived fuel (RDF). This technology is a much
needed alternative and/or supplement to coal-fired power plants and an
immediate solution for solid waste disposal problems plaguing major
urban areas.
¶ Digital Gas has committed to Entropic Energy that it will reinvest
10% of its net income to further health, education and welfare
projects within East St. Louis. Any municipality or corporation that
would like to partner on future projects should contact
energy&farmingcenters@digitalgas.com.
¶ In a related development, DEF has successfully negotiated an
option to purchase a 200 acre property containing a minimum proven 4
million tons of gravel in Ontario, Canada in a high development area
within forty-five miles of Toronto. DEF intends to sell the gravel
over a period of five to ten years and use the proceeds to support a
debt financing for a farming center to be located on the same
property.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-10-06 11:29 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 6, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that it has agreed to act as a distributor for Lamdo Co. Ltd. of Ho
Chi Minh City, Vietnam for a variety of high-quality consumer products
manufactured in Vietnam. Lamdo Co. is a partner on several energy
related projects in Vietnam with Entropic Energy and Digital Energy &
Farming Asia.
¶ "This business opportunity should significantly increase the cash
flow and profitability of Digital Gas, as the products are of the
highest quality and have excellent margins," said Austin Marshall, a
Director of Digital Energy & Farming, who arranged the deal for
Digital Gas.
¶ The initial products to be distributed are widely popular
furniture for the home and business markets. Digital Gas has arranged
for dock space in Florida for the sale of aggregate products. The same
location will receive the furniture from Vietnam. Southern Florida is
the initial target market and Digital Gas has a sales and marketing
team already contacting several large furniture chains. "Based on
quality and pricing, the products will sell rapidly," added Mr.
Marshall. Lamdo will supply approximately of $100 million of product
annually.
¶ Digital Gas is projected to have a minimum outlay of investment to
support this distribution business which has the potential to add tens
of million of dollars in net profits annually.
¶ Digital Gas is also evaluating opportunities to establish
manufacturing capabilities with Lamdo for specialty parts for its
energy business and for an energy efficient car using special
materials and energy saving technologies. Mr. Marshall, currently in
Vietnam seeking additional business opportunities, indicated that the
company's business in Vietnam could increase significantly. "Vietnam
imports large quantities of gasoline and ethanol. We can make ethanol
as planned for East St. Louis and we have access to oil which can be
refined into gasoline through new refining technologies. This would
greatly expand our presence and profitability in Vietnam," said Mr.
Marshall.
¶ Digital Gas was recently informed by a commercial finance company
that its application for $30 million in debt has been accepted based
on an initial due-diligence and review of information it provided. A
commitment to fund will be made after a successfully completed
due-diligence and mutual acceptance of terms and conditions. The
interest rate on a debt investment would be Prime + 1.5 - 2.5% per
annum. If the financing is completed, Digital Gas would retain $5
million less fees and commissions for its working capital and would
extend $25 million to five of its subsidiaries that it intends
structuring as separate operating companies. The funds to be used by
the respective subsidiaries would serve as equity to support project
debt that has been arranged.
¶ Digital Gas is close to finalizing the acquisition of a major
aggregate deposit in the US that could service the needs of the
hurricane ravaged Gulf Coast areas.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-09-18 18:01 ET - News Release
NEW YORK -- (Business Wire) -- Sept. 18, 2005
Digital Gas, Inc. (OTC Pink Sheets: DIGG) announced
today that it and Nova Stone Exporters, Inc. signed an agreement on
September 16th wherein both parties agree to sell Green Harbour Energy
& Farming. Both companies agree that the common shares of companies in
the aggregate sector are at an all time high and that this is the best
time to act to benefit their respective shareholders. Digital Gas, a
75% owner of Green Harbour, is handling the sale.
¶ Until a sale occurs, Green Harbour will continue to be developed
and the quarries will commence filling purchase orders from Florida
and the Katrina-damaged Gulf coast. The granite quarries in Nova
Scotia contain in excess of 500 million tons of high quality sized and
crushed granite, armor stone and rip-rap, all in current high demand.
To expand its current product line, Green Harbour is in final
negotiations with a foreign cement manufacturer to secure a long-term
source of cement. The cement manufacturer is in need of sized and
crushed stone that Green Harbour can provide.
¶ To maximize its present options and accelerate near-term
shareholder value, Green Harbour is currently negotiating with several
investment advisors and banks to be brought public on a senior
exchange and be financed for its dramatic expansion capabilities. To
complement this, it is also negotiating with several international and
domestic aggregate companies interested in securing granite on a
long-term basis for their cement and asphalt operations and for resale
to third parties. The time is right for the above as the current
demand for aggregate is quite strong. However, management is confident
that Green Harbour can position itself to benefit significantly
additionally from the anticipated enormous demand for aggregate to
restore hurricane Katrina-ravaged areas. Based on current market
prices, cost factors and anticipated profit margins, this quarry
business is capable of yielding over two billion (US$2 Billion) in
future net income for Green Harbour. However, to assist local
communities, representatives will offer price protected deals in
exchange for firm long term contracts where possible.
¶ To further maximize shareholder value by year-end 2005, Digital
Gas is negotiating with investment advisors and banks to also sell one
or more of its other subsidiaries for cash and securities in publicly
traded companies. The management of Digital Gas has decided to
distribute 90% of the cash and 100% of the securities it receives in
these transactions as special cash and stock, or bond, dividends.
¶ In another announcement, Digital Gas has been contacted by a Hong
Kong based merchant bank interested in providing sources for
significant investment in both Digital Sofcell and Digital Energy &
Farming Asia. Digital Gas has granted the merchant bank permission to
form on its behalf two Asian domiciled subsidiaries named Digital
Sofcell Asia, Inc. and Digital Energy & Farming Asia, Inc. These newly
formed subsidiaries will directly receive the funds to be raised which
will significantly accelerate fuel cell development by its partners
and the opening of new energy & farming plants throughout Asia. Next
week, Austin Marshall, Director of both companies, will travel to Ho
Chi Minh City regarding the waste-to-energy plant in Vietnam and to
Shanghai to make final arrangements for six waste-to-energy plants in
mainland China. Digital Energy & Farming Asia will also use its funds
to finalize arrangements for two waste-to-energy plants on Taiwan.
¶ Other aggregate suppliers are experiencing and anticipate further
increased business, net income surges and/or record common share
prices, including: Vulcan Materials Company (NYSE: VMC); Martin
Marietta Materials, Inc. (NYSE: MLM); Rinker Materials Corporation
(NYSE: RIN); Lafarge North America Inc. (NYSE: LAF); CEMEX, S.A. de
C.V. (NYSE: CX); Florida Rock Industries, Inc. (NYSE: FRK); MDU
Resources Group, Inc. (NYSE: MDU); Aggregate Industries plc (London:
AGG), Hanson Building Materials North America, Inc.; Oldcastle, Inc.;
and Rogers Group, Inc. as well as other junior companies.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-08-29 12:14 ET - News Release
NEW YORK -- (Business Wire) -- Aug. 29, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced
today that its Digital Sofcell solid oxide fuel cell ("SOFC")
subsidiary will participate in a joint venture with Shanghai ShenLi
High Tech Co. ("ShenLi"), and Goeta Technology Developer International
("Goeta"). The management of Digital Gas anticipates SOFC will be
considered the dominant fuel cell technology used in China and
eventually worldwide after the first SOFC products from the Joint
Venture are tested against all existing proton exchange membrane
("PEM") fuel cell products from several W to hundred kW level
currently used in various business areas, especially for fuel cell
cars and buses.
¶ This joint venture (JV) will be formed based on contributions and
combination of advantages from both sides. Digital Sofcell and Goeta,
the developer of a breakthrough low temperature solid oxide fuel cell
(IT/LTSOFC) technology, will contribute SOFC technology, patented SOFC
material production and fabrication and manufacture facilities which
have been established in China since 2000, other technologies and
systems plus investment and Shanghai ShenLi, China's leading
developer, manufacturer and marketer of fuel cells, will contribute
the facilities, engineering team and equipment, as well as their
recognized expertise in fuel cell systems, installation of fuel cell
products and other technical resources and capabilities. ShenLi has
demonstrated several unique and proprietary fuel cell technologies
that offer lower cost, safer, longer life time, and higher performance
fuel cells.
¶ Shanghai ShenLi plans on being the leading source of power in
China for the transportation, stationary and portable markets. ShenLi
is led by Dr. Li Qing Hu, CEO and CTO. Dr. Hu received his doctorate
at the Shanghai Institute of Organic Chemistry and is the author of
fourteen significant papers in the areas of chemistry and fuel cells.
He is the leading fuel cell expert in China and has received
significant government funding and support. Since 1998, Dr. Hu and
ShenLi have been awarded many research contracts from the Chinese
Ministry of Science and Technology, and Shanghai Municipal Science and
Technology. In particular, ShenLi has received and successfully
completed, seven very important research contracts including: the
National Ninth-Five Year Key Science and Technology Project "PEMFC
Technology", National Tenth-Five Year 863 High Technology Project
"Fuel Cell Engines." ShenLi holds a total of 150 Chinese and United
States patents and has more than 50 proprietary technologies that
resulted from the PEMFC Technology and Fuel Cell Engines projects.
ShenLi has demonstrated several unique and proprietary fuel cell
technologies that offer significant advantages over current fuel cell
existing solutions that provide for lower cost, safer, longer life
time, and higher performance characteristics.
¶ Dr. Bin Zhu founded and leads Goeta Technology Developer
International. Dr. Zhu is considered to be the world's leading expert
in intermediate and low temperature solid oxide fuel cells
("IT/LTSOFC"). He is also internationally recognized for his work in
ceramic fuel cells. During the short period between 1999 and 2000 his
research resulted in about 30 publications and a series of
international recognized breakthroughs in IT/LTSOFC material science
and technology. In 2004 Dr. Zhu's work was judged "well placed in
developing an international leading role in the development of
LTSOFCs" by an international panel consisting of six experts from
Canada, USA, Denmark, Finland and Austria organized by the Swedish
research council (VR) in 2004. Since then Dr. Zhu has been refining
his basic breakthroughs and, after attracting world wide industrial
and commercial interest, is now ready to begin commercialization
through the JV with Digital Sofcell and Shanghai ShenLi.
¶ Digital Gas is also pleased by the fact that Goeta and Dr. Zhu
have established their own patented IT/LTSOFC material production
based and ceramic component fuel cell device manufacture in China.
IT/LTSOFC represents new advanced technology and is the next
generation fuel cell. It has provided new feasibilities and
availabilities for solutions to the current SOFC problems and
challenges to commercialization.
¶ Digital Sofcell will further joint venture with Digital Ultracap
to produce integrated systems that will bring state of the art
distributed generation to the home, small businesses, industrial
firms, shopping centers and malls, hospitals, residential and
commercial real estate and the hospitality industry, well as other
venues.
¶ Digital Sofcell is currently negotiating with investment banking
firms to fund the $250 million that it is seeking to raise to
establish this SOFC technology as the worldwide leader in the
manufacture and marketing of fuel cell systems. A management
consultant firm recently retained by the company is currently
contacting potential strategic partners among end users and may raise
the $250 million in this manner.
¶ More about Dr. Zhu: He has extensive international cooperative
research and development experience including: project leader for the
Sino-Swedish bilateral cooperation project on ITSOFC research under
NUTEK (The Swedish Board for Industry and Technology Development) and
MOST (Ministry of Science & Technology of China); selected by the
Swedish government to develop and implement research cooperation with
China; leading a United Nation's bilateral cooperation program with
NFR (Swedish Natural Science Research Council), NSFC (National Natural
Science Foundation of China), KVA (the Swedish Royal Academy of
Sciences) and CAS (Chinese Academy of Sciences). Supported by TFR,
STINT and NSFC, Zhu had successfully co-organized the 97th Xiangshan
Scientific conference on New Solid State Fuel Cells, an international
colloquium in Beijing, China which provides the Chinese central
government information and strategies for decision making for National
Tenth Five-Year economic development plan on SOFCs. In addition, Dr.
Zhu has been appointed by a number of Chinese universities as the
professor. Dr. Zhu is currently coordinating a Sino-Swedish LTSOFC
network including 14 top universities/institutes and 6 relevant
industrials from Sweden and China, providing solid base and various
supports to this on-going project. Dr. Zhu received his doctorate from
Chalmers University of Technology in Physics and Engineering Physics
and did Post Doctorate work at Uppsala University, Angstrom Lab,
Department of Materials Science.
¶ Major utilities, potential large corporate customers and local,
state and federal governments may express interest or inquire further
at our email address below.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-08-24 07:26 ET - News Release
NEW YORK -- (Business Wire) -- Aug. 24, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced
today that its joint venture partner ICCU of the Netherlands has been
selected for an award from the New York State Energy Research and
Development Authority ("NYSERDA") for what both companies believe is
the world's most advanced ultracapacitor, promising to become a
standard appliance in commercial and industrial buildings and in every
home. The award is pending final contract negotiations on mutually
acceptable terms and conditions.
¶ Governor George E. Pataki announced several days ago that $15.5
million in funding was awarded by NYSERDA to support 32 distributed
generation and combined heat and power (DG/CHP) projects throughout
the State. The projects support the State's energy goals by augmenting
the availability of clean and efficient generation capacity and the
development of technologies for use in combined heat and power
applications. ICCU, part of the "Energy Now" consortium will install
its system in the Bronx.
¶ The Ultracap has achieved an unheard of price breakthrough per
kilowatt hour of storage capacity and can operate over a minimum
thirty-year lifetime with zero maintenance. ICCU and Digital Gas will
manufacture and market the Ultracap in North and South America through
their newly formed "Digital Ultracap" joint venture. The Ultracap will
provide an affordable buffer between utility power generation capacity
and power consumption on a massive scale. It is estimated that this
type of device can save up to fifteen billion dollars ($15 Billion)
annually on America's estimated two hundred billion dollar ($200
Billion) annual electric bill. Digital Ultracap's product, which can
store electricity with 95% efficiency, can currently offer utilities
energy storage systems at $400 per kWh or less, including power
electronics. Existing flow-battery systems store energy with only
80-85% efficiency. Over time, this difference in efficiency translates
into a significant operating cost difference.
¶ Since the announcement of the joint venture in July, ICCU and
Digital Gas have signed the necessary documentation to allow Digital
Ultracap to operate as a separate entity. Present negotiations with
several investment bankers may lead to a reverse merger with,
preferably, a cash rich public entity or an IPO. If either of these
alternatives is chosen, the management of Digital Gas has decided to
distribute its ownership in Digital Ultracap to its shareholders via a
stock dividend. "Prior to signing an investment banking deal, Digital
Ultracap will offer ICCU's major shareholders and investors, which
participants in ICCU include a major European bank, a major European
utility, an international construction company and an international
metals company the opportunity to buy into the new company," said Theo
van Bakkum, who will serve as Chairman of the Board of Digital
Ultracap.
¶ In addition to the above, Digital Gas has recently arranged for an
invitation to manufacture the Ultracap in a state of the art one
million square foot electronics center in the United States. Digital
Gas has indicated to the owners of the facility that it would be
interested in owning 50% of the center, subject to final due diligence
and the successful negotiation of a long term cost control contract.
¶ Major utilities, potential large corporate customers and local,
state and federal governments may express interest or inquire further
at our email address below.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-07-21 12:19 ET - News Release
NEW YORK -- (Business Wire) -- July 21, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that the Entropic Consortium has been given approval to commercialize
a 200 MW $300,000,000 waste-to-energy facility in Ho Chi Minh City,
Vietnam. The Consortium includes Digital Energy & Farming Asia (DEFA),
a subsidiary of Digital Gas, and Stone & Webster, a subsidiary of The
Shaw Group.
¶ The Entropic Consortium, assisted by Stone & Webster, concluded
its final negotiations this week after a major presentation to
government officials. The planned 200 MW, $300,000,000 waste-to-energy
plant will process approximately six thousand tons of municipal and
other waste daily and would include adjacent farming and other high
profit businesses being arranged for by DEFA. The approval is subject
to a final design, technology and administrative review by the Ho Chi
Minh City Environmental Protection Agency.
¶ The Entropic process will be able to handle and re-use the City of
Ho Chi Minh's municipal solid waste and sewage treatment plant sludge
wastes, as well as certain hazardous wastes. Entropic's patented
technology produces a clean-burning by-product from the widest variety
of processed waste. The product has the same BTU value as high-grade
coal without the emission impurities of coal (sulfur, mercury, among
others). Furthermore, the product is fifty to eighty (50-80%) percent
more combustion efficient than refuse-derived fuel (RDF).
¶ DEFA anticipates substantial profit upside in view of the expected
dramatic increase in electric power demand in Asia, the environmental
friendly, cost-efficient technology represented by the coal-substitute
technology and the utilization of its advanced farming and other
technologies. The same technologies will be deployed by DIGG's energy
and farming centers in North America. These centers could become the
preferred alternative to coal-fired power plants and a solution for
solid waste disposal problems plaguing major urban areas.
¶ The Entropic Consortium selected Stone & Webster as its
engineering firm because it is a global leader in the development,
engineering, design and construction of facilities supporting domestic
and international power generation. They bring to the Consortium over
a century of experience with state-of-the-art technology for major
infrastructure development. Entropic has also chosen Stone & Webster
for its East St. Louis waste-to-energy plant.
¶ For an article about the project in Viet Nam News, Viet Nam's
major English language daily, please check "High-tech waste treatment
plant to open in HCM City" at
http://vietnamnews.vnagency.com.vn/showarticle.php?num=03ENV200705
¶ Major utilities, corporations and municipalities may express
interest or inquire further at our email address below.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-07-08 18:17 ET - News Release
NEW YORK -- (Business Wire) -- July 8, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that it will partner with ICCU of the Netherlands to manufacture and
market the world's most advanced ultracapacitor. The parties will
initially operate under the corporate name "Digital Ultracap". The
new, low-cost energy storage device is ready for market this year. It
has the potential to revolutionize the use of "Green Power" and
"Distributed Generation," as well as to improve the robustness and
efficiency of the traditional electric power grid. These devices
promise to become a standard appliance in commercial and industrial
buildings and in every home in America. Other participants in ICCU
include a major European bank, a major European utility, an
international construction company and an international metals
company.
¶ ICCU's ultracapacitor has achieved an unheard of price
breakthrough per kilowatt hour of storage capacity and can operate
over a minimum thirty-year lifetime with zero maintenance. The
Ultracap will provide an affordable buffer between utility power
generation capacity and power consumption on a massive scale. It is
estimated that this type of device can save up to fifteen billion
dollars ($15 Billion) annually on America's estimated two hundred
billion dollar ($200 Billion) annual electric bill.
¶ The new ultracapacitor will allow utilities to optimally match
their customers fluctuating demand to the generation plant. Since
power consumption varies substantially over the course of a 24-hour
period, as well as seasonally, it has been necessary to oversize the
total power generation capacity in order to meet maximum power
consumption periods, especially when, for example, air conditioning
loads rise dramatically during hot summer days. These maximum power
consumption periods are what lead utilities to initiate so-called
rolling brown-outs and, under extreme conditions, even blackouts, in
order to prevent a total collapse of the power delivery system for a
particular geographic region.
¶ The use of Digital Ultracap's product will improve the robustness
of the grid and permit significant amounts of less reliable
distributed co-generation to be added to the grid better than any
product expected to penetrate the market in the foreseeable future. In
addition, this affordable, reliable, robust and long-lived energy
storage unit will permit the operation of remote power facilities that
depend on local renewable generation without access to the grid. This
is particularly important in the case of where the cost of
transportation of the back-up fossil fuels is significant and for
developing countries deploying solar and wind generators. As such, the
new ultracap will greatly assist the economy and proliferation of
renewable power generation technologies such as wind power, solar
power, and tidal power generating devices, as well as hybrid power
generation technologies such as micro-CHP (combined heat/power) and
fuel-cells. The new ultracapacitor will efficiently store the energy
produced until it is needed for use. For example, the wind does not
necessarily blow and the sun does not necessarily shine at those
moments when the resulting power generated is required for
consumption.
¶ The ultracap will allow utilities to minimize the power generation
capacity on hand since they can now economically store electricity
that can be instantly tapped when either a spike occurs in electric
consumption by their industrial, commercial and residential customers
or there is unforeseen equipment downtime. This ultracapacitor buffer
also allows utilities to operate their generators at maximum
efficiency as opposed to ramping power generation up and down which
results in less economic consumption of fossil fuels burned by their
generators. This ramping up and down in turn contributes to
unnecessary production of greenhouse gas (carbon dioxide).
Theoretically, utilities could even decommission power generators if
sufficient widely distributed energy storage capacity were available.
This storage capacity would allow them to operate their generators
night and day at a relatively constant output at their highest
efficiency fuel and emissions efficiency, thereby lowering their base
power generation capacity need. Home owners that buy the product can
realize the advantage of buying electricity at off-peak prices and
using it during peak usage hours.
¶ The Department of Energy is promoting the implementation of
distributed generation technology along with renewable power
generation. Distributed generation plants can more readily
significantly reduce the amount of greenhouse gases compared to
typical central power plants. Central power plants more often than not
have no local users for the waste heat. Distributed generation can
virtually cut in half the amount of greenhouse gases produced
vis-a-vis central power plants. This emission reduction of carbon
dioxide is possible because conventional power generation devices
normally convert half of the fuel consumed to waste heat that is
vented to the atmosphere. If, on the other hand, the power generator
is located at the site where the power is consumed, the heat that
would normally be vented to the atmosphere can be instead utilized for
space heating or hot water heating, among other useful applications.
Digital Gas' farming centers, for example, that are planned for the
previously announced East St. Louis waste-to-energy plant, can utilize
waste heat for greenhouses and aquatic farming.
¶ Where applicable, the ultracap will present an immediate emissions
reduction and trading opportunity for utilities. Due to their higher
efficient power generation, utilities can gain valuable carbon-credits
to be traded on international markets. Currently, a metric ton (2200
lbs.) is traded around twenty dollars per ton per year coming up from
eight dollars per ton in 2004. Consulting companies project the price
to rise to eighty dollars per metric ton per year in 2008.
¶ The ultracapacitor is so unusual in its price and performance
characteristics that it represents a totally new class of energy
storage technology. Digital Gas, which is partnering with ICCU to
commercialize the ultracapacitor in North and South America and other
markets to be announced, intends to work closely with major utilities,
as well as local, state and national governments to rapidly and fully
exploit the environmental and economic benefits of the storage
technology. Digital Ultracap's product, which can store electricity
with 95% efficiency, can currently offer utilities energy storage
systems at approximately $400 per kWh, including power electronics.
Existing flow-battery systems store energy with only 80-85%
efficiency. Over time, this difference in efficiency translates into a
significant operating cost difference.
¶ One major opportunity that the ultracapacitor represents to
utilities is the ability to store energy in such massive quantities
that the otherwise unavoidable upgrade of the grid, estimated to cost
approximately one hundred billion dollars ($100 Billion), can be
reduced by a substantial percentage. The US grid itself represents a
total investment of approximately one trillion dollars ($1 Trillion)
and must be not only constantly maintained, but also continually
expanded to meet power consumption growth of approximately 2.5 percent
per year. If the ultracapacitor can reduce this upgrade cost of even a
few percent, Billions can be saved and valuable real estate and
critical wildlife areas not be subjected to use as power corridors or
sites for additional generation plants.
¶ Digital Ultracap intends to demonstrate its technology for federal
and state energy officials, as well as for executives of utilities
facing rapidly escalating cost of peaking fuels and increasing costs
of environmental compliance. The new ultracap represents an
opportunity to substitute power generation capacity with energy
storage capacity, a considerably cheaper alternative in terms of cost
per kWh.
¶ "I am looking forward to working with Digital Gas and its in-house
energy technologists to market these products throughout North and
South America," said Theo van Bakkum, President and CEO of ICCU. Mr.
van Bakkum indicated that this ultracapacitor is a dramatic
improvement over competing energy storage devices and anticipates that
his company's intellectual property provides a cushion of several
years' market leadership.
¶ ICCU's ultracap is itself "Green". It contains no heavy metals, no
chemicals and no fumes, has fast upload and discharge, has improved
power quality on frequency and voltage, has improved reliability,
security and comfort, stackable variable capacities and an extremely
long life cycle.
¶ "Our product can be marketed now as an uninterrupted power supply
or bridge for relatively large applications, for renewable and hybrid
power generation, for the automotive market in cars and trucks to
provide consistent starting power under all weather conditions and
other applications," said Mr. van Bakkum. "There are no effective
competitors expected within the next few years because of the long R&D
lead-time and our patents and know-how. Much like Dell computer, if
competition shows up we will have a tremendous mass production and
sales volume advantage that will allow us to defend our market share
with extremely competitive pricing," added Mr. van Bakkum.
¶ To enhance the financial condition of the company in the first
year, Digital Gas will contribute producing and highly prospective
coal bed methane properties for the purpose of providing the new
business with internally generated cash flow. Its target will be to
contribute properties that are producing $20 million after tax
annually by the first quarter of 2006. This will make the immediate
investment in Digital Ultracap even more attractive to the major
investors that Digital Gas' financial agents and investment bankers
are negotiating with. Digital Gas is negotiating with several large
investment groups and public companies with excess cash interested in
pursuing a reverse merger for Digital Ultracap with a publicly traded
company. This will result in a significant stock dividend for Digital
Gas shareholders if the company decides to spinout its ownership to
them.
¶ Digital Gas is now evaluating several US manufacturing entities
with excess capacity. It is planning to commence automated production
of the ultracap at commercial volumes in late 2005 or early 2006. A
leading candidate for initial production is a 500,000-plus square-foot
electronics manufacturing facility. Sales are projected to hit one
billion seven hundred million dollars ($1.7 Billion) annually by 2010.
The facility would also be used to manufacture the low temperature and
high temperature solid oxide fuel cell systems that it anticipates
will both complement the ultracapacitor product and be used for a
variety of stand alone purposes, including gas processing or the
residential, small business, entertainment, hospitality and commercial
real estate markets, as well as for enhanced oil & gas recovery in
situ.
¶ Major utilities, potential large corporate customers and local,
state and federal governments may express interest or inquire further
at our email address below.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-05-19 09:30 ET - News Release
NEW YORK -- (Business Wire) -- May 19, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that its subsidiary, Digital Energy & Farming (DEF) has signed an
agreement with US-based Entropic Energy LLC to become a significant
partner in a $308 Million synthetic coal, ethanol and farming
waste-to-energy industrial complex approved by the City of East St.
Louis, Illinois. The unique complex, which the partnership will seek
to introduce to communities across the US, will be funded with "AAA"
rated city bonds for which a major European Money Center Bank has
agreed to provide a 100% guarantee.
¶ Austin Marshall, CEO of Entropic, commented that, "these
waste-to-energy & farming centers are the wave of the future for large
cities and other communities hard pressed by rising energy costs. If a
leading investment bank is correct and we have entered a super-spike
period that will result in oil prices surging to $105 per barrel, the
problem will only get worse." Mr. Marshall commended the Mayor's
office and the City Council of East St. Louis for acting responsibly
and effectively for their constituents.
¶ East St. Louis is actively assisting Entropic because the proposed
development will increase the city's housing stock for low and
moderate income families, as well as increase the city real estate
assessment value. Earlier this year, Entropic was granted local siting
approval by a Resolution of the City Council which is required under
State law to allow it to apply for any and all required state and
federal permits. Additional benefits of the project are a level of
price control with the city's garbage disposal costs currently at risk
of price escalation as the county has restricted further landfill
development; the institution of a training center for workers in other
plants to be built in other cities and the project may allow the City
to dispose of wastewater treatment plant sludge.
¶ Entropic's patented technology produces a clean-burning by-product
from the widest variety of processed waste. The product has the same
BTU value as high-grade coal without the emission impurities (sulfur,
mercury, among others) of coal. Furthermore, the product is fifty to
eighty percent more combustion efficient than refuse-derived fuel
(RDF). This technology is a much needed alternative to coal-fired
power plants and an immediate solution for solid waste disposal
problems plaguing major urban areas.
¶ Based on the agreement signed today, DEF will own 30% of the
partnership and 50% of the net profits of the lucrative farming center
which will produce a wide variety of foods, pharmaceuticals and
strategic substances. To drive partnership profitability even further,
there will be back-end processing facilities that will create
value-added ready-to-market products.
¶ Other cities, towns or corporations that would like to partner on
future projects should contact energy&farmingcenters@digitalgas.com.
¶ For further information: call Brian Smith 732-927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-04-01 19:24 ET - News Release
NEW YORK -- (Business Wire) -- April 1, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced today
that its coal bed methane ("CBM") subsidiary based in Wyoming has
received a $75 million offer of senior debt for Phase I of its Wyoming
CBM project from one of the leading global investment banking,
securities and investment management firms. Additional funds will be
advanced during the first year as needed. The management of Digital
Gas' CBM subsidiary has decided to accept the offer. Digital Gas will
announce the closing date when it is set.
¶ The Wyoming CBM project consists of 54,150 proven coal rich acres
upon which there are currently 325 drilled wells which are producing
and near production. It is management's plan to bring the entire 325
wells online over the first several months of operation and then drill
and complete another 531 wells on this acreage over the next three
years. The new wells will be drilled down to the 2,000 to 5,000 foot
level, as compared to the prior wells that are mostly drilled to 1,500
feet or less. The projected cash flow from the project is strong
enough to repay the debt in three years.
¶ Based on the new developments in the company, Digital Gas signed a
letter of intent today with a full service investment banking firm
based in New York City that is focused on the needs of small to
midsized public companies, and late stage private companies. If the
mutual due diligence and negotiations are concluded successfully, the
investment bank will provide merger and acquisition strategies, make
recommendations on reverse mergers, IPOs and listing on the AMEX,
structuring shareholder communications programs and other services.
¶ Digital Gas also announces that it will shortly enter into
negotiations to develop fuel cell systems for a commercial real estate
development and management company seeking energy efficient and
environmentally friendly power generation.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-03-03 11:05 ET - News Release
NEW YORK -- (Business Wire) -- March 3, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced
today that its subsidiary, Digital Energy & Farming Asia (DEFA) has
signed an agreement with US-based Entropic Energy LLC to commercialize
breakthrough waste-to-energy power generation technology in major
cities across Asia.
¶ Entropic Energy is in final negotiations with a major Asian city
to install a waste-to-energy plant that would process approximately
15,000 tons of municipal and other waste daily. The 300 MW plant would
cost approximately five hundred million dollars with adjacent farming
and other high profit businesses being arranged by DEFA. The
Consortium will commercialize its technologies through joint ventures
and Special Purpose Corporations with local groups.
¶ Entropic Energy's patented technology produces a clean-burning
by-product from the widest variety of processed waste. The product has
the same BTU value as high-grade coal without the emission impurities
(sulfur, mercury, among others) of coal. Furthermore, the product is
fifty to eighty percent more combustion efficient than refuse-derived
fuel (RDF). This technology will also be used in two waste-to-energy
plants to be constructed in Taiwan by the Quanta Consortium that
includes Entropic Energy and DEFA as equity partners.
¶ DEFA, which will provide Entropic with experienced management,
additional breakthrough technologies, and access to senior investment
capital. DEFA's Asian partnership with Entropic Energy has substantial
profit upside in view of the power generation growth potential in Asia
and the environmental friendly, cost-efficient technology represented
by the coal-substitute technology. The same technology will be
deployed by DIGG's energy and farming centers in North America as an
alternative to coal-fired power plants and a solution for solid waste
disposal problems plaguing major urban areas.
¶ DEFA stands to significantly enhance its profitability in Asia as
a result of this agreement. In addition, DIGG's North American energy
& farming centers gain access to the Entropic waste to energy
technology.
¶ Austin Marshall, CEO of Entropic Energy, has agreed to join DEFA's
Board of Directors. Mr. Marshall, a leading energy and environmental
consultant, will assist DEFA and its parent Digital Gas in several
areas, including, oil and gas, alternative energy, engineering, legal
and general management.
¶ With over thirty years of worldwide experience in environmental
and construction project management and financing, Mr. Marshall is a
specialist in deep oil, gas and injection well drilling; deep
injection of hazardous liquid wastes; and has managed large civil
infrastructure and international construction and environmental
projects, including: real estate, water resources, dams, highways, and
sewer systems; remediation of contaminated land, drinking water
cleanup, waste disposal, earth dams, harbors, and mega-structures on a
worldwide basis.
¶ Earlier in his career, Mr. Marshall was employed by Bechtel
Construction as an engineer on large power plant and water resource
projects in Korea, Columbia, Japan, Saudi Arabia, and Russia. He also
worked as an engineer for Woodward Clyde Consultants on power plant,
water resource, and sewer systems in Argentina, Kenya, Saudi Arabia,
and India.
¶ Mr. Marshall received a BS in Civil Engineering from Cornell
University; and both his MS in Environmental Engineering and Geology
and a JD in Contract Law from the University of Michigan. He is a
professional engineer, a professional geologist, a Diplomate in
Environmental Engineering, a Member of the American Society of Civil
Engineers and the American Arbitration Association, as well as a Board
Member, Rouge Environmental Protection Board and Northville Public
Works Board.
¶ Digital Gas also announces new developments with several of its
subsidiaries: the strategic partner of its electricity savings
subsidiary has a $25 million government grant pending (DIGG has an
option to purchase equity in this company as well as having
distribution rights to the product line); the CBM subsidiary expanded
its funding request from $30 to $50 million for western properties and
final approval is pending; and, finally, the aggregate supply
subsidiary will shortly acquire sand and limestone deposits to
complement its granite deposits and is in final negotiations to
purchase several self-unloading ships and acquire port space in states
along the east coast and in the Gulf of Mexico.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2005-01-01 14:35 ET - News Release
NEW YORK -- (Business Wire) -- Jan. 1, 2005
Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced
today that its Green Harbour Energy & Farming subsidiary has reported
it is ready to fill purchase orders for a projected 2 Million tons of
granite from one of its quarries in 2005.
¶ This sales figure is based on the present capacity at one of its
quarries and written offers to purchase crushed and sized granite from
several major firms, as well as end users along the eastern seaboard
of the US. Orders will be filled on a first come first serve basis.
¶ Prior to finalizing purchase orders, potential buyers conduct a
due diligence which may include the satisfaction of one or more
requirements, including that the granite be tested to determine it s
physical and chemical properties, that approvals be obtained from the
Department of Transportation or other regulatory bodies in which the
granite will be used, that the extraction and loading of granite be
economical and that there is ship availability.
¶ Green Harbour is presently negotiating project funding and equity
investment with several sources. The company plans on increasing its
capacity to strip, crush, size and load stone at several locations and
is in the process of contracting international shipping firms for the
transportation of stone to ports along the eastern seaboard of the US
and other world locations. If the opportunity presents itself, the
company will arrange to purchase large self unloading ships.
¶ No further details are being made available at this time.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
For Digital Gas
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-12-16 19:07 ET - News Release
NEW YORK -- (Business Wire) -- Dec. 16, 2004
Please replace the release with the following corrected
version due to multiple revisions.
¶ The corrected release reads:
¶ DIGITAL GAS SUBSIDIARY AGREES TO ACQUIRE UP TO 27,000 ACRES OF
PRODUCING & HIGHLY PROSPECTIVE GAS LEASES IN WYOMING FOR $9.5 MILLION
¶ A subsidiary of Digital Gas, Inc. (OTC Pink Sheets:DIGG) - agreed
to purchase 27,000 acres of producing and highly prospective gas
leases in Wyoming for $9.5 million. The company is currently
negotiating additional acquisitions in the area and no details on
locations or sellers will be made available at this time.
¶ The current agreement covering 27,000 acres includes 1.5 MMCF per
day of gas production, 23 wells drilled and ready for production and
the possibility of drilling 338 wells to the 1,500 foot level and 169
wells to the 5,000 foot level.
¶ The 23 wells that can produce in the short term are shallow wells
which are anticipated to produce 125 MCF per day each. If the wells
produce as anticipated, the total gas produced on the 27,000 acres
prior to new drilling would be a total of 4.37 MMCF per day.
¶ Each well drilled to the 1,500 foot level is anticipated to
minimally produce 375 MCF per day and those down to the 5,000 foot
level a minimum of 1.5 MMCF per day each. The cost to drill and
complete in Wyoming will be higher then in Kansas because there are
many more coal bearing zones with greater net thickness that are able
to produce. Although the drilling costs will be higher, the amount of
gas produced more then compensates for the added expense. All wells to
be drilled are in close proximity to major national gas pipelines and
are considered to be extremely low risk wells.
¶ There is an estimated $13.5 Billion of gas reserves on the
property based on commonly accepted engineering and geological
reports.
¶ Based on the higher reserves in Wyoming, the subsidiary will seek
in excess of $50 million to purchase the deal and for an aggressive
drilling and completion program. The subsidiary will begin closing its
CBM gas acquisitions this month and anticipates concluding all current
and pending deals, including its Wyoming deals, by January 31, 2005.
¶ Digital Gas also reports that its Green Harbour Energy & Farming
subsidiary is close to concluding one or more multi-million ton stone
purchase orders. In addition, the company is evaluating offers from
US-based broker dealers and investment banks to take Green Harbour
public on a senior exchange with a commitment to provide interim
funding in the near-term. Further details will be made available after
pending contracts are signed.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-11-13 22:26 ET - News Release
NEW YORK -- (Business Wire) -- Nov. 13, 2004
Digital Gas, Inc. (OTC Pink Sheets: DIGG) closed its
transaction with Canadian-based Nova Stone Exporters, Inc. to purchase
and develop several large granite quarries in Nova Scotia. The
quarries have in excess of 500 Million tons of high quality granite
that, when processed and loaded for shipment, translates into $5
Billion of market value at present prices. The first shipments of
stone will commence in January, 2005.
¶ Digital Gas has formed a new subsidiary, Green Harbour Energy &
Farming LLC, which will be the owner and operator of the reserves;
and, when developed, a major integrated resource and energy complex in
Nova Scotia with satellite facilities along the eastern seaboard of
the US and the Gulf of Mexico. Digital Gas owns 75% of Green Harbour
and Nova Stone owns 25%.
¶ Green Harbour is in negotiations to be brought public on a senior
exchange and be financed for its dramatic expansion capabilities. It
is also negotiating with several major international and domestic
aggregate companies that are interested in the granite. Based on
current market prices, cost factors and profit margins, the quarry
business alone will generate significant future net income for Green
Harbour in the $2-3 Billion range.
¶ Competitors of the new company will be Vulcan Materials Company
(NYSE: VMC); Martin Marietta Materials, Inc. (NYSE: MLM); Hanson
Building Materials North America, Inc.; Oldcastle, Inc.; Rinker
Materials Corporation; Lafarge North America Inc. (NYSE: LAF); CEMEX,
S.A. de C.V. (NYSE: CX); Florida Rock Industries, Inc. (NYSE: FRK);
MDU Resources Group, Inc. (NYSE: MDU); Aggregate Industries plc
(London: AGG) and Rogers Group, Inc. as well as other companies in
Nova Scotia.
¶ To summarize other Digital Gas news, the company reports that its
CBM gas subsidiary will sign a funding agreement with a leading global
investment banking, securities and investment management firm on or by
November 19th. The investment bank has indicated that after the first
acquisitions are completed, they will finance the acquisition of
several other companies the subsidiary is presently negotiating or
targeting. Also, Digital Gas is in final negotiations with investment
advisors and investment banks to fund its other subsidiaries.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
DIGITAL GAS INC (U-DIGG) - News Release
Digital Gas Subsidiary Receives Offer for a $30 million Senior Credit Facility
2004-10-27 15:18 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 27, 2004
Digital Gas, Inc. (OTC Pink Sheets:DIGG) - A subsidiary
of Digital Gas, Inc. received an offer for a $30 million Senior Credit
Facility from a leading global investment banking, securities and
investment management firm. If the Senior Credit Facility is accepted
by the subsidiary, the funds will be used to allow it to rapidly
expand into the coal bed methane gas business in the highly
prospective Southeast Kansas coal area.
¶ The Term Facility, which will be available for borrowing until
January 1, 2006, is for acquisitions, the implementation of an
aggressive development plan calling for the initial drilling of 425
coal bed methane ("CBM") wells, expenses associated with the
transaction and for working capital. Digital Gas has previously
announced that it intended to expand its coal gas business by
acquisition and development.
¶ The above offer came with a further offer to fund future
acquisitions of merit that the subsidiary may deem necessary to
fulfill its aggressive plan. Digital Gas previously announced that it
would like to obtain $250 million in funding for acquisitions of
natural gas and coal bed methane gas properties. The target
acquisitions will have to have significant current cash flows and
highly prospective development potential to qualify for the funding.
¶ Now that it has the offer of this senior credit, the subsidiary
will now seek to conclude private placements of up to $25 million in
high-yield convertible preferred stock and $5 million in common stock.
Part of the proceeds from the sale of the convertible preferred would
be used to fund energy related technologies and projects that are
synergistic to its basic position in the energy business. Because its
aggressive acquisition and development plans may be funded with
additional senior credit, these convertible preferred and common stock
offers are expected to be highly attractive to potential investors and
be finalized sometime in November.
¶ No further details are being made available at this time.
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-10-12 13:54 ET - News Release
NEW YORK -- (Business Wire) -- Oct. 12, 2004
Digital Gas, Inc. (OTC Pink Sheets:DIGG) has entered
into a definitive agreement with Nova Stone Exporters, Inc. of
Bridgewater, Nova Scotia, to develop several existing stone quarries
located in Shelburne County, Nova Scotia. To further extend the
profitability of the business, Digital Gas is planning to establish a
major integrated resource and energy complex on one of the quarries.
Digital Gas will finance the project through a newly formed spinout
company, with Digital Gas owning 75% of the common shares and Nova
Stone owning 25%.
¶ One quarry contains well in excess of 100 million tons of sized
crushed stone and armor stone and a second site is estimated to
contain a like amount of crushed stone. Under the terms of the
agreement, Digital Gas will develop the quarries into an integrated
resource, energy & farming center. Further development of other
businesses on the site is planned, including: food processing,
pharmaceutical processing, nanotechnology and an advanced
gas-processing center. The fully integrated complex will benefit from
a state of the art loading system and docking facilities for barge and
deepwater shipping that will result in highly competitive access to
major east coast and Gulf Coast US cities and Mexico. To further
extend the profitability of the business, the ships will return to the
complex with special materials for high profit,
value-added-processing.
¶ The current owners and senior management will continue to run the
stone operation, be responsible for all permitting and licensing and
oversee the planned rapid expansion. Digital Gas will finance the
acquisition and expansion through a debt offering by the newly formed
spinout company. Digital Gas is currently negotiating with several
investment bankers to sponsor the new company on a senior exchange.
The agreement calls for the new company to pay the current owners $7
million in cash-out moneys in the form of a note, a $0.20 per ton
royalty interest in the stone shipments and a 25% interest in its
common shares at closing.
¶ Based on current market prices, cost factors and profit margins,
the quarry business alone will generate significant net income for the
estimated 50 years plus life of the quarries. Competitors of the new
company include: Vulcan Materials Company (NYSE:VMC); Martin Marietta
Materials, Inc. (NYSE:MLM); Hanson Building Materials North America,
Inc.; Oldcastle, Inc.; Rinker Materials Corporation; Lafarge North
America Inc. (NYSE:LAF); CEMEX, S.A. de C.V. (NYSE:CX); Florida Rock
Industries, Inc. (NYSE:FRK); MDU Resources Group, Inc. (NYSE:MDU);
Aggregate Industries plc (London:AGG) and Rogers Group, Inc. as well
as other companies in Nova Scotia.
¶ Digital Gas also reports that it is close to finalizing a funding
arrangement of approximately $50 million for its southeast Kansas gas
acquisitions and development, as well as a $60 million investment with
Asian sources for the Quanta Consortium energy & farming center in
Taiwan. Regarding the Quanta Consortium, Richard Earle has retired as
a Partner from Patton Boggs and currently holds the position as their
International Business Advisor through the end of this month.
¶ For further information: call Brian Smith at 732-927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-09-16 00:01 ET - News Release
NEW YORK -- (Business Wire) -- Sept. 16, 2004
Digital Gas, Inc. (OTC Pink Sheets: DIGG) Digital Gas
announced today that its subsidiary, Digital Energy & Farming Asia LLC
("DEFA"), has signed an agreement to join the Quanta Energy
Environment Consortium, which has received approval from the Taiwan
Government to build two 400-MW waste-to-energy plants in Taiwan.
¶ Quanta received foreign investment approvals from the Investment
Commission of the Ministry of Economy on August 10, 2004 for the
plants which are anticipated to cost $425 million each. After it
obtains a business license, which is a formality after the payment of
a fee, the Taipei County Government, which has reserved a 50-acre site
for the Quanta Consortium in the Economic Development Zone, will
transfer the land to the consortium. Known as the "Reclaimed Land
Under Sanying Bridge," the property is valued at US$142,830,000. The
consortium's second plant will be located in Kao-hsiung County.
¶ DEFA, which owns a 2.5% non-dilutable equity interest in the two
projects, will coordinate all financing for the consortium, as well as
technical matters relating to an adjacent farming facility and the use
of fuel cells and nanotechnology. DEFA can earn up to 37.5% of the
equity in the two projects.
¶ The waste-to-energy plants will employ a waste-processing
technology that converts municipal, industrial, and residential waste
streams to a by-product that, when burned, is not only environmentally
clean and safe, but is 50-80% more efficient than burning conventional
RDF.
¶ The Taiwan principals, led by Henry T. Hsu of Taipei, have more
than 50 years of experience in business in the Asian market. The US
principals, led by Kenneth Ealba of Detroit, Michigan, have more than
30 years of experience with corporations such as Asia Pacific
Petrochemicals Company, Taiwan, and Qingdao Liancheng Petrochemical
Company, Shangdong Province, PRC and the Almana Group, one of the
largest business houses in Qatar. The Quanta Consortium has extended
to DEFA the right to partner in future projects in Korea, Japan, and
the PRC.
¶ Digital Gas is pleased to announce that it has opened an office in
Hong Kong and that Ferdi Stolzenberg, CEO of Elegant Fortune Limited,
a long-established consultant group in the niche markets of shipping,
finance, the trading of bulk commodities and petroleum products, has
agreed to serve on the Board of Directors of DEFA.
¶ Mr. Stolzenberg was born in Germany and has lived and worked in
the corporate communications industry for some 35 years, 23 of which
have been in Hong Kong. In 1990 he became one the founding partners of
the MTI Network, an international network specializing in crisis media
management and other marketing communications exclusively for the
shipping industry, worldwide. He has been involved in importing and
distribution of wine and various bulk commodity-trading interests,
focusing on the China import/export market with local contacts in Hong
Kong. His 23 years of living and working in Asia have given him
extensive and practical experience of Asian cultural and business
practices, specifically in the shipping and international trade areas.
He is fluent in English and German and is a member of the Foreign
Correspondents' Club, the Royal Hong Kong Yacht Club, and the
Australian Chamber of Commerce; the company is a member of the Hong
Kong Shipowners' Association and the Hong Kong Chamber of Commerce.
¶ Digital Gas is pleased to announce that Richard A. Earle, a
partner at Patton Boggs LLP, based in Washington, DC, has agreed to
serve on the Board of Directors of Digital Energy & Farming Asia.
Patton Boggs, LLP is the Legal Counsel for the Quanta Consortium.
¶ Mr. Earle has been practicing private international law for over
30 years. In this capacity he has participated in numerous
international transactions, including export financing transactions
involving the Export-Import Bank, the Overseas Private Investment
Corporation, the U.S. Agency for International Development, the
Economic Development Corporation of Canada, COFACE of France, and
Hermes of Germany. He has served as counsel for U.S. and foreign
exporters, borrowers, and lending institutions. He is currently
assisting a country in rescheduling its international debt with the
IMF, World Bank, and commercial lenders. Mr. Earle has negotiated a
number of loan agreements with the Arab Republic of Egypt under the
U.S.A.I.D. program, arranged Asian dollar financing in connection with
export financing for third-country projects, and arranged for the
discount of LDC corporate and sovereign debt instruments with coverage
from the Foreign Credit Insurance Association. He has litigated
international corporate and financial disputes with the cooperation of
local counsel in Singapore and other countries. Mr. Earle received his
J.D., his MBA, and his B.B.A., from the University of Michigan.
¶ Ms. Bing Xu, an Associate at Patton Boggs, LLP, has been the
person responsible for coordinating and administrating the logistics
between the Quanta Consortium and the various corporate and
governmental entities in Taiwan. In addition, she was responsible for
the negotiations leading to the entrance of DEFA into the Quanta
Consortium.
¶ Ms. Xu specializes in international trade matters, including
export control and compliance, as well as customs and trade policy
issues. Her trade policy experience extends to matters involving the
WTO, NAFTA, and other regional and bilateral agreements. On behalf of
foreign sovereigns, Ms. Xu monitors legislative and regulatory issues
related to world trade. Ms. Xu works with clients to develop business
opportunities in Asia, particularly in China and Taiwan, including
communication and negotiation with various foreign government
agencies, product registration and distribution, market penetration
and joint-ventures. Ms. Xu helps clients identify potential sources of
finance and prepare business plans for project finance and draft
documentation in the applications and funding process. Ms. Xu is
published in leading international trade publications and is a
frequent guest lecturer. She received her J.D. at Catholic University
of America; her M.A. at the University of Texas at Dallas and her B.A.
at the Foreign Affairs College, Beijing, China.
¶ A subsidiary of Digital Gas signed an agreement this week that
gave it an assignment of an option to purchase a small, but quite
strategic, gas company based in Montgomery County, Kansas. The gas
company currently nets approximately $1 million from gross combined
oil & gas revenue of $1.75 million. The purchase price will be $3
million and will include 8,000-10,000 highly prospective acres to
drill additional oil & gas wells.
¶ An announcement regarding the finalization of debt and equity
funding for all of its gas company purchases in Southeastern Kansas is
imminent.
¶ For further information: call Brian Smith (732)-927-4073 or email
energei@optonline.net.
Contacts:
For Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-07-30 20:23 ET - News Release
NEW YORK -- (Business Wire) -- July 30, 2004
Digital Gas, Inc. (OTC Pink Sheets:DIGG) -- Digital
Gas, Inc. announced that the final documentation for the financing of
the acquisition of SunWest SEK LLC was received today and the funding
placement document will be submitted for final approval early next
week. Based on the quality of the submission, the company anticipates
receiving an offer for a five (5) year loan for $50 million to
consummate the acquisition of SunWest SEK, other gas company or lease
acquisitions, the drilling and completion of 300 coal bed methane gas
wells and working capital.
¶ The property portion of the acquisition of SunWest SEK has been
expanded from 10,000 to 13,000 acres to account for leases not
included at the signing of the letter of intent with SunWest
Petroleum. The cash portion of the purchase price has been expanded by
$500,000 to $11.25 million as a result of SunWest SEK securing for
Digital Gas 10,000 additional acres in Labette County in close
proximity to leases currently being drilled by Quest Resource
Corporation ("QRCP"). This last acreage brings the total land position
in the SunWest SEK transaction to 23,000 acres. These properties, as
well as property of pending acquisitions, are all in the highly
productive Cherokee Basin in Southeastern Kansas.
¶ Based on the company's due diligence, the quality of the
operations of the target acquisitions and the additional acreage, it
was determined that the cash flow would be more than adequate to
retire the debt within five (5) years and begin paying dividends in
the last quarter of 2005. It was previously announced that the company
would seek a ten (10) year loan.
¶ Digital Gas also announced today that its Energy Savings &
Security subsidiary will conduct a test of the HVAC Controller
(heating ventilating & air conditioning) in a major hotel in New York
City during August. If this final test is successful and the results
documented, the company will present the HVAC controller to two major
international real estate investment advisory and management companies
that its agent has been negotiating with.
¶ For further information: call Brian Smith 732-927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-06-04 07:42 ET - News Release
NEW YORK -- (Business Wire) -- June 4, 2004
Please replace the release with the following corrected
version due to multiple revisions.
¶ The corrected release reads:
¶ DIGITAL GAS AGREES TO ACQUIRE GAS SUBSIDIARY OF SUNWEST PETROLEUM
INC. FOR $15.75 MILLION
¶ Digital Gas, Inc. (OTC Pink Sheets:DIGG) -- Digital Gas, Inc. and
SunWest Petroleum, Inc. of Dallas, Texas, have entered into an
agreement whereby Digital will purchase SunWest SEK LLC, which
contains producing gas wells, pipelines and a gathering system, as
well as other highly prospective drillable acreage and assets in the
Midwest, from SunWest for $15.75 million.
¶ Digital Gas will submit final documentation to its financial
agents as soon as several new wells have been completed and put online
and it receives an updated engineering report on the approximately
10,000 acres owned by SunWest. At closing, Digital Gas anticipates
having just fewer than 40 producing coal methane wells with a total
gas production of in excess of 2.5 million cubic feet per day. An
additional 125 wells could be drilled and put online on the remainder
of SunWest's property. Gas is currently selling for $6.50 per Mcf in
the area.
¶ Under the terms of the agreement, Digital Gas can request that
SunWest drill, log, pipe-set and cement 25 additional wells in certain
highly prospective existing acreage included in the deal. It is
anticipated that the additional wells, which Digital Gas would pay for
and own, could add in excess of 1.56 million cubic feet per day. The
additional 100 wells to be drilled on the property are projected to
produce in excess of 6.25 million cubic feet per day. Totally drilled,
the property is anticipated to produce in excess of 10.5 million cubic
feet per day. Although management expects these production numbers,
there is no guarantee that the future wells will perform as those
currently producing for SunWest at a rate in excess of 75 million
cubic feet per month.
¶ Digital Gas, which is currently in negotiations to purchase other
gas assets and companies, anticipates raising $25 million of debt
financing with a ten-year term to pay for the purchase price of this
acquisition, the development of the 125 wells and for working capital.
At closing Digital Gas will pay SunWest $10.75 million in cash and 1
million shares of its common stock at an accepted value of $5.00 per
share.
¶ Digital Gas intends on placing the assets into Digital Energy &
Farming and eventually convert the operation into an electric company
by building solid oxide fuel cell (SOFC) plants at a main gathering
system which will then convert the gas into electricity and heat.
Management anticipates that this will increase gas revenues by a
minimum of 300% based on selling the electricity at just $.07 kw. The
utilization or sale of the heat will increase revenues further still.
Digital Energy & Farming may apply for a listing on the AMEX through
the agency of an investment banking firm after the closing of this
transaction and before the 125 wells are fully completed,
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc. for Digital Energy & Farming, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-06-04 00:12 ET - News Release
NEW YORK -- (Business Wire) -- June 4, 2004
Digital Gas, Inc. (OTC Pink Sheets: DIGG) -- Digital
Gas, Inc. and SunWest Petroleum, Inc. of Dallas, Texas, have entered
into an agreement whereby Digital will purchase SunWest SEK LLC, which
contains producing gas wells, pipelines and a gathering system, as
well as other highly prospective drillable acreage and assets in the
Midwest, from SunWest for $15.75 million.
¶ Digital Gas will submit final documentation to its financial
agents as soon as several new wells have been completed and put online
and it receives an updated engineering report on the approximately
10,000 acres owned by SunWest. At closing, Digital Gas anticipates
having just fewer than 40 producing coal methane wells with a total
gas production of in excess of 2.5 Mcf (thousand cubic feet) per day.
An additional 125 wells could be drilled and put online on the
remainder of SunWest's property. Gas is currently selling for $6.50
per Mcf in the area.
¶ Under the terms of the agreement, Digital Gas can request that
SunWest drill, log, pipe-set and cement 25 additional wells in certain
highly prospective existing acreage included in the deal. It is
anticipated that the additional wells, which Digital Gas would pay for
and own, could add in excess of 1.56 Mcf per day. The additional 100
wells to be drilled on the property are projected to produce in excess
of 6.25 Mcf per day. Totally drilled, the property is anticipated to
produce in excess of 10.5 Mcf per day. Although management expects
these production numbers, there is no guarantee that the future wells
will perform as those currently producing for SunWest at a rate in
excess of 75 Mcf per month.
¶ Digital Gas, which is currently in negotiations to purchase other
gas assets and companies, anticipates raising $25 million of debt
financing with a ten-year term to pay for the purchase price of this
acquisition, the development of the 125 wells and for working capital.
At closing Digital Gas will pay SunWest $10.75 million in cash and 1
million shares of its common stock at an accepted value of $5.00 per
share.
¶ Digital Gas intends on placing the assets into Digital Energy &
Farming and eventually convert the operation into an electric company
by building solid oxide fuel cell (SOFC) plants at a main gathering
system which will then convert the gas into electricity and heat.
Management anticipates that this will increase gas revenues by a
minimum of 300% based on selling the electricity at just $.07 kw. The
utilization or sale of the heat will increase revenues further still.
Digital Energy & Farming may apply for a listing on the AMEX through
the agency of an investment banking firm after the closing of this
transaction and before the 125 wells are fully completed.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net
Contacts:
Digital Gas, Inc. for Digital Energy & Farming, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-05-07 13:09 ET - News Release
NEW YORK -- (Business Wire) -- May 7, 2004
Digital Gas, Inc. (OTC Pink Sheets:DIGG) -- Digital
Energy & Farming announced that it and Energy Savings & Security LLC,
a newly organized subsidiary, have signed an agreement with Financing
For Industry ("FFI"), of Jamesburg, New Jersey, to provide up to $2.25
billion in financing for their respective businesses.
¶ FFI will provide up to $2 billion in a purchase order line of
credit, that will finance the purchases of Energy Savings & Security's
breakthrough HVAC Controllers by major utilities. The company also
anticipates purchases from hotels, motels, resorts, office buildings,
apartment complexes, government buildings, military installations,
airports, hospitals, nursing homes and other venues.
¶ In a related transaction, FFI will provide Digital Energy &
Farming with up to $250 million in funding for acquisitions of natural
gas and coal bed methane gas properties. The target acquisitions will
have to have significant current cash flows and highly prospective
development potential to qualify for the funding. Digital Energy &
Farming intends to use the funding to acquire companies with both
significant cash flows as well as development potential in areas close
to end users for energy.
¶ The signing of this agreement will allow Digital Gas and its
subsidiaries to not only successfully conclude pending investment
banking deals, but also to rapidly expand its businesses in the energy
field. In particular, financing the anticipated rapid growth of Energy
Savings & Security, will allow for a steady stream of significant cash
flows. The company intends to distribute these cash flows evenly
between common stock dividends and reinvestment in gas properties
developed to feed solid oxide fuel cell based distributed electrical
generation systems.
¶ All of this, is consistent with the company's previously announced
intent to develop solid oxide fuel cell (SOFC) based electric and heat
generators for the home, small business and industrial markets. These
SOFCs would be extremely cheap to produce, capable of rapid start-up,
and would be capable of being operated on various fuels including,
natural gas, propane, ethanol, coal bed methane and liquid
hydrocarbons.
¶ Financing For Industry operates both domestically and
internationally in a variety of industries. FFI's experienced and
highly accomplished professionals specialize in structuring financing
packages tailored to the needs of individual businesses and
corporations. In addition to having significant experience in handling
complex financial transactions, FFI has special capabilities in
equipment financing, leasing, asset backed lending, commercial
mortgages, inventory financing, purchase order financing and
government funding.
¶ Digital Gas is committed to developing clean gas, electricity and
food in the US in order to provide its shareholders with high yield
and high growth in a safe and secure part of the world, the heartland
of the US.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net.
¶ For inquiries from the utility industry or potential strategic
partners: call Rusi F. Patel (781) 273-5700, Ext 217.
Contacts:
Digital Energy & Farming, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Energy & Farming, Inc.
2004-04-29 08:48 ET - News Release
NEW YORK -- (Business Wire) -- April 29, 2004
Digital Gas, Inc. (OTC Pink Sheets:DIGG) -- Digital
Energy & Farming announced that KEMA, Inc. has agreed to assist Energy
Savings & Security LLC, a newly organized subsidiary, in marketing the
first HVAC Controller designed to provide significant energy savings
and enhance national security by preventing the occurrence of
brownouts and blackouts.
¶ KEMA, an international consulting firm providing technical and
management consulting, testing, inspections, certification, and
training services to more than 500 electric industry clients in 70
countries, has a superlative record of assisting governmental and
regulatory agencies, utilities and customers in reorganizing the
worldwide electricity industry.
¶ KEMA will enhance Energy Savings & Security's marketing program to
utilities and retailers through product packaging design, preparation
of marketing materials and messaging and by identifying utilities with
high potential for purchase of the products in large quantities. Its
unmatched technical expertise and in-depth understanding of the energy
industry, has helped clients throughout the world to address the
challenges and to capitalize on the opportunities of restructuring and
liberalization. Their expertise covers the complete spectrum of
activities in this area, ranging from national energy policy and
industry restructuring to detailed strategic and analytical
assistance. Headquartered in Arnhem, the Netherlands with subsidiaries
and offices worldwide, KEMA employs more than 1,500 full-time
professionals and leading experts in many facets of the energy utility
industry.
¶ Rusi F. Patel, Vice President of KEMA will coordinate the
consulting services to Energy Savings & Security. Within KEMA, Mr.
Patel is in charge of a specialized management consulting group
focusing on the energy and environmental industries. Formerly
President of EFI, Inc., which was sold to Xenergy after he contributed
significantly to the company's growth and exit strategy, Mr. Patel
focused on the commercialization of emerging technologies, distributed
generation, feasibility of fuel cell power, demand response and
electric load and price forecasting. While at PHB Hagler Bailly, of
Boston, MA, he was a Senior Member, Retail Strategy Practice. While at
Arthur D. Little Inc., of Cambridge, MA, he was Group Leader, Energy
and Utilities Practice.
¶ Patel's team will review testing conducted by Oak Ridge National
Laboratory and Phillips Consumer Electronics. They will also track and
review a proposed 10,000 unit test that would be conducted in
government, office and residential buildings in a major US city.
Although the prior tests and reports on the HVAC Controller clearly
establish the efficacy of the product, the company anticipates that
additional testing will only accelerate its sell-in to these markets.
¶ Energy Savings & Security is pleased to report that it has been in
negotiations with an experienced lending firm for the provision of two
billion dollars in purchase order lines of credit for the HVAC
controller over a two-year period. The funding request was based on
conservative in-house projections of market share. As a result, the
company has received a pre-qualified written offer to finance all of
its potential purchase order requests. The financing, which would be
by one or more of the largest providers of purchase order financing,
would allow Energy Savings & Security to finance in excess of the
above sales figure, in the event that the product is accepted widely
by the utility industry and end users. If Energy Savings & Security
accepts this offer, the financing would be conditional on a successful
review of a final due diligence package that would include a
description of the product, the installation process as well as
information on the company its commercialization plan. Management is
confident that this process will be successfully concluded.
¶ Energy Savings & Security has assembled an excellent management
and consulting team drawn from leading energy, finance, commercial and
professional firms, as well as from government service and technical
labs.
¶ Based on its belief that both utilities and consumers should
embrace this product as soon as possible to strengthen the functioning
of the grid, Energy Savings & Security has already prepared itself for
a rapid sell-in. In addition to moving to secure multi-billion dollar
lines of credit to finance large purchase orders, company
representatives are negotiating with major international insurers to
provide incentive programs for both utilities and consumers and are
likewise holding discussions with major international leasing firms to
provide programs to facilitate purchase.
¶ Most significantly in the aforementioned regard, the company has
decided to establish pricing that will allow for a two-year payback of
the cost of the product.
¶ Energy Savings & Security was formed as a limited liability
corporation to facilitate direct investment in the company by
strategic partners.
¶ Digital Gas is committed to developing clean gas, electricity and
food in the US in order to provide its shareholders with high yield
and high growth in a safe and secure part of the world, the heartland
of the US.
¶ For further information: call Brian Smith (732) 927-4073 or email
energei@optonline.net. For inquiries from the utility industry or
potential strategic partners: call Rusi F. Patel (781) 273-5700, Ext
217.
Contacts:
Digital Energy & Farming, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2004-03-29 21:28 ET - News Release
NEW YORK -- (Business Wire) -- March 29, 2004
Digital Gas, Inc. (OTC Pink Sheets: DIGG) announced that
Digital Energy & Farming, Inc., its wholly-owned subsidiary, has
signed an agreement with Liam, Inc. of Maynardville, TN to acquire the
exclusive distribution rights to a line of breakthrough electricity
controllers designed to provide significant energy savings and prevent
brownouts and blackouts. The controllers ate patented, UL listed and
FCC approved.
¶ The agreement is expected to increase Digital Energy & Farming's
presence in the energy field as it will be distributing the first
heating, ventilation and air conditioning (HVAC) controller in the
marketplace. Liam's "supervisory HVAC controllers" have been tested
for efficiency, reliability and user friendliness, both in the lab and
in real time.
¶ A demonstration of the HVAC controller by Oak Ridge National
Laboratory (ORNL) in hotel rooms, sponsored by the U.S. Department of
Energy's Federal Energy Management Program (FEMP), found that in
occupied rooms where the HVAC controller was not used, the HVACs
consumed 32.1% more energy compared to the controlled rooms using the
HVAC controller. In unoccupied rooms where the HVAC controller was not
used, the HVAC consumed 43.1% more energy compared to the controlled
rooms. Using Liam's final updated system, there was no record of guest
complaints. In the Technology Installation Review article of FEMP's
Office of Energy Efficiency and Renewable Energy that reported the
demonstration, it was also reported that Phillips Consumer Electronics
Company showed a potential 50-80% savings in preliminary
laboratory-simulated tests in unoccupied lodging rooms employing the
controller.
¶ Digital Energy & Farming intends to market the device to hotels,
motels, resorts, major utilities, other power companies, office
buildings, apartment complexes, government buildings, military
installations, airports, hospitals, nursing homes and other venues.
Management believes that this HVAC controller will be widely accepted
by the above venues for the following reasons: 1. it can be installed
to air conditioning units or thermostats in 5 minutes as opposed to
one or more hours; 2. the unit does not require an HVAC technician or
electrician for installation; 3. total cost to install is several
hundred dollars less then conventional units and provides brownout and
blackout protection features that conventional units do not.
¶ Commenting on the brownout and blackout protection features of his
products, Kenneth Winters, President of Liam, Inc., said: "If one
million of these units were in the market last summer at a cost of
under $400 million, we would have saved the Department of Energy
estimated $6 billion lost by the federal government, state
governments, utilities, businesses and consumers and not still be in a
position to suffer these same losses again this summer". Mr. Winters
has agreed to provide consulting services to Digital Energy & Farming
to assist the company's efforts to distribute these products,
technologies and systems.
¶ Liam's HVAC is a simple, patented, plug-in device installed
between a wall outlet and either the room HVAC or a thermostat. The
original design of the device was directed to the detection and
control of voltage irregularities of the power supply to individual
package terminal air conditioners (PTAC) to protect them from damage.
The next generation device incorporated sensors, as well as phone,
internet and satellite access to permit remote control of the units by
hotel or building operators, as well as utility companies. To further
enhance the benefits of the product, a monitoring device was added
that can detect smoke, fire or extreme cold. Liam has a "PTAC Control
Unit" (PCU-P); a "Thermostat Control Unit" (PCU-T), and a "Power
Shedding Unit" (PCU-S), as well as a full-featured thermostat unit
which can sell as a new "enhanced thermostat" or to replace existing
thermostats.
¶ Liam has pre-existing contracts and agreements with several RCA
distributors in the Eastern United States. Digital Energy & Farming
has agreed to respect these pre-existing relationships. In addition,
Liam has reserved the right to be the contact point for the following
utilities: Consolidated Edison (CE-NYSE), Niagara Mohawk (NMKG -
NYSE), Detroit Edison (DTE-NYSE), Minnesota Power (ALE - NYSE),
Georgia Power (SO-NYSE), Florida Power & Light (FPL-NYSE), Tampa
Electric (TE-NYSE), Utah Power (PPW-NYSE), Bonneville Power, Long
Island Power Authority and the TVA.
¶ In order to penetrate this market as rapidly as possible, Digital
Energy & Farming will use industry experts to assist it in devising
and implementing a commercialization plan. For instance, a major
international energy consultant has agreed to advise the company
regarding its commercialization plan and in dealing within the utility
industry. When the company finalizes its entire consultant, advisor
and industry and trade organization agreements and relationships, it
will make a defining announcement in this area. To review reports on
Liam's products, technologies and systems, visit
http://www.dvamedia.com/digital.
¶ Since Digital Energy & Farming intends on being an electricity
provider through its energy & farming centers and coal bed methane gas
businesses, this agreement is important to the company. Further to
electric generation and distribution, the company also intends to
market a low-cost SOFC device that can make any residential and or
commercial building in North America grid-independent while at the
same time reducing the utility bill of that building by approximately
fifty percent and the CO2 emissions by fifty-plus percent. This device
requires only two-kW for an average residence while providing
completely for hot water, space heating and air conditioning.
¶ Digital Energy & Farming announced several other developments. In
the waste processing area, the company has found a site in the Midwest
to commercialize the processing of tires and is in the process of
closing its first agreement with a waste supplier who has agreed to
run the operation. In the coal bed methane area, the company's first
wells will be drilled in April.
¶ Digital Gas is committed to developing clean gas, electricity and
food in the US in order to provide its shareholders with high yield
and high growth in a safe and secure part of the world, the heartland
of the US.
¶ For further information: call Brian Smith (732)-927-4073 or email
energei@optonline.net
¶ DIGG -- Digital Gas, Inc.
¶ Com ($0.001)
Contacts:
For Digital Energy & Farming, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
Source: Digital Gas, Inc.
2003-11-26 21:34 ET - News Release
NEW YORK -- (Business Wire) -- Nov. 26, 2003
Digital Gas, Inc. (OTC Pink Sheets: DIGG) announced that
Digital Energy & Farming, Inc., its wholly-owned subsidiary, will
develop solid oxide fuel cell (SOFC) based electric and heat
generators for the home, small business and industrial markets,
utilizing technology that it believes will result in breakthrough
pricing for distributed generators.
¶ The SOFCs can be produced with very little investment in capital
equipment. The production equipment is modular allowing for easy
expansion of production capacity to keep pace with demand. In
addition, because the fuel cells stacks themselves are modular, they
can be ganged up to create a wide range of power output generators.
The highly simplified SOFC generators will allow for the creation of
power generation products from 1 kW to several megawatts.
¶ SOFCs are extremely cheap to produce, capable of rapid start-up,
and can be operated on various fuels including, natural gas, propane,
ethanol, coal bed methane and liquid hydrocarbons, among other
advantageous characteristics. Cost is the most difficult
commercialization barrier for virtually every competitor.
¶ These extremely light-weight, compact systems will contribute to
savings in transportation costs associated with shipping stack to
customers. Hence, the fuel cells will generate a profit substantially
earlier than its competitors can keep competitors at bay by being
produced at commodity prices.
¶ These uniquely designed breakthrough generators will be capable of
running on various fuels, including natural gas, propane, coal bed
methane, as well as liquid hydrocarbons. Based on an initial review of
technical information and, subject to further testing, it is assumed
that the Richardson Energy gas will be very suitable for use with
these SOFC generators.
¶ In general, Digital Energy & Farming determined that while PEM
(low-temperature fuel cells) receive substantial publicity, their
overall manufactured cost is higher than that of solid oxide fuel
cells and their electrical efficiency is lower than that of solid
oxide generators.
¶ Molten carbonate fuel cells, in addition to being more expensive,
were determined to require more maintenance than solid oxide fuel
cells and also do not have the ability to perform thermal cycling
(starting up and shutting down) as frequently as solid oxide fuel
cells.
¶ Digital Energy & Farming believes that consumers owning the
Richardson gas generator, the Hansen Waste Processor and a product
based on SOFC technology will be able to generate heat and electricity
independent of the current system of energy suppliers. At the very
least, dependence will be greatly reduced for most consumers. This is
important as the US continues to be dependent on foreign oil and
associated products that significantly spike during geopolitical
crises.
¶ The development of the products based on the SOFCs will be
conducted in a planned development and manufacturing lab with Hansen
Energy and Richardson Energy participating in the work. In addition to
focusing on standalone versions of the respective products, the
developers will also seek to integrate the three products and
technologies in a manner that will further drive the cost of energy
down for consumers. The company is currently considering several sites
in the Midwest. The company will review each site carefully before
deciding.
¶ Several additional deals are being reviewed. If concluded
successfully, these will provide Digital Energy & Farming with an even
more complete package to offer consumers in the vital areas of energy
and the environment.
¶ Digital Gas is committed to developing clean gas, electricity and
pure, pesticide and contaminant free food in the US in order to
provide its shareholders with high yield and high growth in a safe and
secure part of the world, the heartland of the US.
¶ Please direct all inquiries to PR Solutions, Inc. at (702)
683-5458. Our websites are currently under development by DVA Media,
Inc. and will be previewed in the first week of December at
http:\www.dvamedia.com\digital\.
Contacts:
PR Solutions, Inc.
Rhett Nielsen, 702-683-5458
Source: Digital Energy & Farming, Inc.
2003-11-20 10:28 ET - News Release Digital Energy & Farming in Agreement to Manufacture and Market Breakthrough Alternative Fuel Generators
NEW YORK -- (Business Wire) -- Nov. 20, 2003
Digital Gas, Inc. (OTC Pink Sheets: DIGG) announced that
Digital Energy & Farming, Inc., its wholly-owned subsidiary, has
signed an agreement to manufacture and market the products of US-based
Richardson Energy, Inc., a developer of generating equipment that
produces environmentally safe and inexpensive combustible gas.
¶ The latest version of the Richardson Energy generator has
breakthrough features impacting the storage and cost of the gas, which
it maintains is simpler and more practical to produce than other
fuels, such as gasoline, methane or pure hydrogen. The fuel is
compatible and adaptable to existing fuel consuming equipment and no
pollution control equipment of any type is needed to achieve
extremely-low emissions.
¶ The agreement with Digital Energy & Farming was made to expand
Richardson Energy's manufacturing and marketing capabilities after it
recently conducted successful tests with a major national gas consumer
and distributor.
¶ Digital Energy & Farming will have the right to manufacture and
market these generators, as well as purchase them directly from
Richardson Energy. In one application, Digital Energy & Farming will
use this generator at it energy & farming centers to provide a new way
to recycle waste water and sewerage for municipalities and individual
households.
¶ Digital Energy & Farming intends to produce and market the gas in
ether or liquid form for its use, as well as home and industrial
users. Richardson Energy views the gas in liquid form as being a
suitable alternative fuel for a variety of applications, including,
aviation fuel, thermal electric power generation, motor vehicles,
heavy trucks, furnaces, cooking stoves, torches and desalination
systems, to name a few.
¶ Digital Energy & Farming and Richardson Energy plan to develop
household and small business generators that will be designed to give
consumers a degree of independence from the pricing and supply control
of fossil fuel based energy and electric companies. For instance,
propane, made from natural gas and twice as expensive, would be an
early target for our marketing efforts to reduce consumer's energy
costs.
¶ Based on in-house emissions work observed by an internationally
recognized small engine manufacturer, Richardson Energy concluded that
an engine running on this gas would have to operate for over 210,000
hours to produce the same amount of CO generated in 1 hour when
burning gasoline.
¶ Richardson Energy believes that the gas would be an excellent fuel
for the emerging SOFC fuel cell market. Digital Energy & Farming will
target this market for future sales, as well as to establish strategic
alliances for its home and small business generators and systems.
¶ Updating its primary business, Digital Energy & Farming reports
that it has chosen five sites for energy & farming centers in the
Midwest. After receiving preliminary approvals from local officials,
which is expected by mid-December, more complete details will be
announced.
¶ Digital Energy & Farming will acquire up to 10,000 acres of coal
leases by the end of this month to allow it to have cash flow prior to
the completion of its energy & farming centers. With 10,000 acres
there will be a potential to drill up to 500 coal gas wells. The
company is negotiating the financing necessary to drill the 500 wells
by mid-year 2005.
¶ To strengthen its coal and energy & farming businesses, Digital
Gas has been working for the last several months to acquire interests
in companies with patented and breakthrough technologies in coal and
waste processing ability, as well as alternative fuels, such as
Richardson Energy. Several deals are pending completion. An update
regarding Caney Valley Drilling will be made in several weeks.
¶ Digital Gas is committed to developing clean gas, electricity and
pure, pesticide and contaminant free food in the US in order to
provide its shareholders with high yield and high growth in a safe and
secure part of the world, the heartland of the US.
¶ Please direct all inquiries to PR Solutions, Inc. at 702-683-5458.
Our websites are currently under development by DVA Media, Inc. and
will be previewed in the first week of December at
http://www.dvamedia.com/digital/.
Contacts:
Digital Energy & Farming, Inc.
by
PR Solutions, Inc.
Rhett Nielson, 702-683-5458.
Source: Digital Energy & Farming, Inc.
2003-06-18 09:40 ET - News Release
NEW YORK, June 18 /PRNewswire-FirstCall/ -- Digital Gas, Inc. (OTC Pink Sheets: DIGG) today announced a significant addition to the board of directors and to the finance and audit teams of its two wholly owned subsidiaries in energy, resource and conservation.
Francis Bassolino will serve as a Director of both Caney Valley Drilling and Digital Energy & Farming and will be responsible for arranging an international investment banking agreement for each company to source up to $50 million for interim financing and working capital through convertible preferred placements and for Digital Energy & Farming to source $250 million in debt for funding its first energy & farming centers. Mr. Bassolino, formerly with Deloitte Touche Tohmatsu as a senior executive in Asia, is presently a consultant to a diverse international business clientele and to Deloitte Touche Tohmatsu on special projects. In addition, he is a prolific writer on Asian finance and business and a Lecturer at the University of Chicago Graduate School of Business. Mr. Bassolino resides in the United States and travels and conducts business extensively in Asia.
Ronald Martian of Martian Enterprises Ltd. has agreed to assist both Caney Valley Drilling and Digital Energy & Farming in key areas essential to the sourcing of interim and senior funding. Caney Valley Drilling will ask Mr. Martian to coordinate the auditing of the company's coal and coal gas assets and Digital Energy & Farming will ask him to coordinate project feasibility studies and source additional engineering firms, strategic partners and alternative funding options. In addition, Mr. Martian will also be asked to arrange for an audit to confirm the represented value and liquidity of collateral which a strategic partner of Digital Gas has put in place to facilitate convertible preferred and debt funding for each of the subsidiaries. Mr. Martian, formerly a Partner with Deloitte & Touche of Canada, consults to a select North American business clientele and to Deloitte & Touche on special projects through Martian Enterprises. Mr. Martian resides in Canada.
Mr. Martian will be asked to work closely with Mr. Bassolino to ensure that international and domestic investment bankers and funding agents have the proper documentation, backup and support to effectively conclude the abovementioned prospective interim and senior financings.
Management believes that these additions to the Caney Valley and Digital Energy & Farming teams greatly enhances the prospects for the subsidiaries to receive sufficient and timely interim and senior financings and to successfully apply to trade publicly on the American Stock Exchange later this year. Additional board members, senior management, consultants and strategic partners of the subsidiaries will be announced shortly.
For Further information write digitalgas@nyc.rr.com
Contact:
Matthew Bishop
917-533-0506
Digital Gas, Inc.
CONTACT: Matthew Bishop of Skopos, +1-917-533-0506, for Digital Gas,
Inc.
2003-06-07 00:30 ET - News Release
NEW YORK, June 7 /PRNewswire-FirstCall/ -- Digital Gas, Inc. (OTC Pink Sheets: DIGG) today announced that it has entered the energy, resource and conservation fields in the US through several wholly owned subsidiaries that will operate and maintain the businesses and assets it has established and arranged during the last year. Further details will be made available by the respective subsidiaries through their communications directors and agents in the coming weeks.
Caney Valley Drilling, Inc., a natural resource company with over fifteen years of operating experience and profitability, has been 100% acquired by Digital Gas in a deal that allows its management to continue operation in the natural resource field under a long term management contact which shall include a 5% participation of the net profits and other benefits and incentives.
The corporate goal of Caney Valley Drilling is to rapidly develop coal properties for profit in three areas: coal stripping; coal gas drilling and coal processing in various areas across the US. In addition, it will deliver to consumers, low cost and easily extracted coal and coal gas.
Caney Valley Drilling will finish phase one of coal leasing and acquisitions this month and will make subsequent and ongoing announcements on coal and coal gas (methane) reserve determinations. The company will hire a major international accounting firm to certify the results and report on their findings.
The plan for Caney Valley Drilling is for its management to take it public on a senior exchange later this year. Under the agreement Caney Valley's management will have the option of converting their net profit interest to equity in the new public company and be entitled to corporate stock options and other benefits.
Digital Energy & Farming, Inc., a wholly owned subsidiary, has been formed to build energy plants and associated farming centers across the US. The energy plants use a wide range of "no cost" waste streams as fuel, including many considered to be environmental pollutants, to provide clean and usable thermal energy. The company will utilize this low cost surplus thermal energy to support year round production of cost competitive, pesticide free food and pharmaceuticals from adjacent greenhouse and aquatic complexes.
The corporate goal of Digital Energy & Farming is to rapidly develop and build timely, efficient and significantly profitable clean energy, food and water production plants across the US plants in unique partnerships with towns and counties. The company has assembled its technical, sales and marketing staff and a proven team of experts to take advantage of the opportunities that exist in this significant and emerging growth field.
Digital Energy & Farming has developed several projects and is in the process of acquiring plant sites. The company will employ major international design-build firms to complete designs for the plants and construct, operate, maintain and provide a performance guarantee for the project. A financing methodology for these projects has been established. A source for the funding has been identified and, based on current negotiations, it will proceed with funding after a final due diligence of the feasibility of the projects, and regulatory approvals are obtained and the value and liquidity of collateral, which a strategic partner has arranged to facilitate an all debt funding, is confirmed.
Both Caney Valley Drilling and Digital Energy & Farming will have by-laws prohibiting loans to officers and directors and necessitating that 90% of corporate profits be paid to shareholders as common stock or preferred dividends as earned and on a timely basis.
The plan for Digital Energy & Farming is also for its management to take it public on a senior exchange later this year.
A consulting firm with national experience has agreed to assist the new companies in the process of application and acceptance for trading on the American Stock Exchange via an SB2 registration to commence next month. The details of this agreement will be made available by the respective companies in the coming weeks.
The firm has 25+ years in the industry with broad experience ranging from retail operations and sales to investment banking and syndication. They maintain an extensive network in the retail, investment banking and syndication side of the industry. They are also very active in the private, venture capital arena and enjoy a wide circle of associates involved in corporate startup, mergers and acquisitions, business consulting, stock transfer, accounting and IR.
The firm is active in several investment banking and conference organizations that provide exposure and capital to growth companies.
For further information write digitalgas@nyc.rr.com
CONTACT: Matthew Bishop
(917) 533-0506
Digital Gas, Inc.
CONTACT: Matthew Bishop of Skopos, +1-917-533-0506, for Digital Gas,
Inc.
2003-05-27 10:26 ET - News Release
NEW YORK, May 27 /PRNewswire-FirstCall/ -- Digital Gas, Inc. (OTC Pink Sheets: DIGG) today announced the formation of a new energy, resource and conservation subsidiary. The new company has been under development over the past year and will begin operation within the next two weeks. It will own its own assets and will be able to immediately generate profits within the first year of operation. Additional details will be available by June 6, 2003.
Additional projects for the company's energy, resource and conservation business have been in development since last summer. It is anticipated that the funding for these projects will be finalized over the next two months. These projects will be placed within the new wholly owned subsidiary, further diversifying and strengthening that company.
To further its business interests, Digital Gas, Inc., sent representatives to China six times over the last year. The most recent trip, begun this week despite the SARS scare, was to review the status of a major public works project. The project is currently on hold due to a Chinese-side restructuring of ownership and responsibility.
Next month Digital Gas expects to bring on new management thereby marking the transition from development to operational. One of the first tasks, of the new team, will be to review all existing letters of intent and agreements from prior years. No further details will be made available, until the new management is in place and matters are reviewed by counsel, in order to protect and enhance shareholder value and interests.
For further information write Skopos at digitalgas@nyc.rr.com
CONTACT: Matthew Bishop
(917) 533-0506
Digital Gas, Inc.
CONTACT: Matthew Bishop of Skopos, +1-917-533-0506, for Digital Gas,
Inc.
2002-05-06 21:03 ET - News Release
Digital Gas Subsidiary Proceeds in China with Joint Venture to Construct
Water Plant
:Pacific Gateway and Zibo Huashan Conclude Business Arrangements
NEW YORK, May 6, 2002 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (Pink Sheets:
DIGG) today announced that Pacific Gateway Holdings, Inc., its wholly owned
subsidiary based in Alberta, Canada, has decided to become a 52% joint venture
partner in the full commercialization of the Zibo City Hi-tech Zone water
project. The joint venture partner is Zibo Huashan Landscaping Engineering Co.
Ltd. of Zibo City, Shandong Province, PRC.
Representatives of Pacific Gateway attended business and technical meetings in
Zibo City throughout March and April to finalize the relationship between the
two companies. Pacific Gateway will return to Zibo City by May 31st to sign the
formal joint venture documents and oversee the commencement of the project.
Dr. Gerald Miller, an officer and director of Altagem Resources (ALK - CDNX),
was in attendance at every meeting in Zibo City and fully supports the Pacific
Gateway joint venture and has been advised by Zibo Huashan that there will be
additional water projects offered to the joint venture in China in the coming
months and years. The Zibo City project includes a water plant, pipeline and
associated infrastructure, as well as a variety of profitable real estate and
development opportunities. The joint venture company will be called Zibo Huashan
Pacific Gateway Water Supply Company.
Altagem Resources signed a letter of intent on December 31, 2001 to acquire
Pacific Gateway for 64 million common shares of ALK.
"This is a tremendous deal for Pacific Gateway, Zibo Huashan and for Zibo City,"
said Dr. Miller, a former Professor at the University of Calgary, Alberta,
Canada. "Pacific Gateway is one of the first foreign corporations to be in a
profit-based joint venture to supply clean water to a High Tech Industrial Park
in China," Dr. Miller added.
After signing the formal joint venture document, Pacific Gateway and Altagem
will proceed to conclude the merger. "Pacific Gateway agreed with my decision to
proceed to merge the companies after these meetings in Zibo City, the
finalization of the joint venture details and the actual formation of the joint
venture, which I felt would all strengthen the merger and facilitate the
acceptance of the transaction by the shareholders of Altagem and regulatory
agencies," explained Dr. Miller.
Altagem's management will provide Pacific Gateway with a projected closing date
for the merger. Shortly thereafter, Digital will announce the details of its
plan to distribute 100% of the shares of Pacific Gateway to its shareholders.
Finally, a significant development for Digital Gas in April was the formation of
Heartland Energy Corp. of Kansas. Heartland Energy will be run independently of
Digital and will contain Digital's US-based oil & gas and energy related
interests, as Pacific Gateway was formed to hold its Chinese and Canadian
business interests.
Heartland Energy is positioned to earn significant near-term cash flows and
value through service and trading activities in the energy field in the Midwest.
Heartland Energy commenced operations in April and, based on this activity,
expects to sign agreements in May that could result in significant net income by
year-end. At some point this year, Digital will seek to distribute 100% of its
shares in Heartland Energy to its shareholders under a plan that will suggest
taking Heartland Energy public to raise working capital to expand its current
businesses and to create liquidity for Digital shareholders.
For further information, contact Skopos at (917) 533-0506 or write
digitalgas@nyc.rr.com
CONTACT: Matthew Bishop
(917) 533-0506
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X65784824
SOURCE Digital Gas, Inc.
CONTACT: Matthew Bishop of Skopos, +1-917-533-0506, for Digital Gas
(DIGG)
http://www.prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
-0-
KEYWORD: New York
China
INDUSTRY KEYWORD: OIL
CST
SUBJECT CODE: JVN
STOCK SYMBOLS: [(digg)]
2002-02-15 20:25 ET - News Release
Digital Gas Subsidiary Awarded Contract in China
:Pacific Gateway Signs Contract, Adds Directors to Its Board And Signs
Letter of Intent to Be Acquired by Altagem Resources ("CDNX")
NEW YORK, Feb 15, 2002 /PRNewswire-FirstCall via COMTEX/ -- Digital Gas, Inc.
(Pink Sheets: DIGG) today announced that Pacific Gateway Holdings, Inc., a
wholly-owned subsidiary based and incorporated in Alberta, Canada, was awarded a
contract by Zibo Huashan Landscaping Engineering Co. Ltd. to be the consulting
engineer and general contractor for the Zibo City Hi-tech Zone Water Plant. The
contract was awarded on January 18th and the formal document was signed on
February 8th. Zibo City is in Shandong Province, People's Republic of China.
Pacific Gateway also received an option from Zibo Huashan on January 18th to
become a 52% partner in the full commercialization of these projects. A formal
document dealing with profit participation was also signed on February 8th.
Further financial details will be made available after the completion of a
feasibility report to be completed by Pacific Gateway. Zibo Huashan was granted
the contract by the appropriate city and provincial governmental authorities and
will fulfill the contract in a joint venture with Pacific Gateway. The plant and
system includes a collection tank, a water supply pipe network, offices,
workshops, and housing.
Digital Gas is in the process of restructuring to make itself a business
incubator. As such, the company is placing its current businesses and
opportunities into separate companies which will have their own Board of
Directors and management and will be run separate from the parent.
Further to this Pacific Gateway has been formed to hold Digital's Chinese and
Canadian business interests, which are presently in the energy and export-import
fields. Pacific Gateway signed a letter of intent on December 31, 2001 to be
acquired by Altagem Resources (ALK - CDNX) for 64 million common shares of ALK.
The deal is expected to close in late March. Digital Gas will announce its plan
to distribute 100% of the shares of Pacific Gateway to its shareholders within
two weeks.
During the past year, Digital Gas and Pacific Gateway strengthened its presence
in China by establishing strategic alliances with several Hong Kong
corporations. Pacific Gateway will seek to establish a wide presence in the PRC
and long-term governmental and business relationships in leading cities by
facilitating business deals for its strategic partners and by offering Chinese
cities Western technologies for a variety of public works projects. The ultimate
goal of the company is to establish a significant and profitable export-import
business between China and North America. To further that goal, Pacific Gateway
has added a number of experts in the export-import fields to its Board of
Directors and consultant base.
Gordon W. Thompson, formerly Director of Marketing for Campbell Soups, is now a
Director of Pacific Gateway. Mr. Thompson will be in charge of the company's
export-import business. Mr. Thompson, who was born in Hong Kong, has also held
marketing and senior management positions with Goodyear, Ward Foods, Standard
Brands, Nabisco, W.R. Grace and Sunnyside Vegetable Packaging. A leading agent
for Loblaws of Canada, he has successfully conducted business with them for
twelve years. Mr. Thompson currently sells eight products through Loblaws that
are marketed under the "President's Choice" label. Pacific Gateway anticipates
that he and his team of sales and marketing experts will arrange to sell many
products sourced in China to Loblaws and other North American consumer stores
and commercial buyers.
Ladka Sweeney, previously employed with The Great Atlantic and Pacific Company
of Canada Ltd. as its Director of Corporate Brands, where she led the
development and expansion of the Master Choice line from 136 to 980 SKUs, is now
a Director of Pacific Gateway. Prior to this, she was employed as the Unique
Product Developer with Loblaw International Merchants, where she created over
500 top selling SKUs under the "President's Choice" and "No Name" brands in many
food categories. Ms. Sweeney will support Mr. Thompson in his work.
Spenser Arthur Chow, who owns Lee Valley Foods, Inc., which imports and exports
from China, Japan, North America & Mexico, is now a Director of Pacific Gateway.
Mr. Chow, a highly respected consultant, is responsible for new product
development, sales and marketing to major chains and food distributors, lists
Loblaws, A&P, Sobeys, Metro, Safeway, Albertson's, Costco, Gordon Food Service,
& Acosta among his customers. Mr. Chow has been invited by the British Consulate
General, British Trade and Investment division to attend and speak at the
"International Food Exhibition" in London, England. Mr. Chow will support Mr.
Thompson in his work.
Digital Gas has retained counsel to review several letters of intent and
agreements from prior years for the purpose of protecting and enhancing
shareholder value and to advise it on all future business dealings.
Digital Gas is pleased to announce that it has retained Skopos to do its
corporate websites. Matthew Bishop, the owner of Skopos, has taken the position
of VP of Communications for Digital Gas. For further information, contact Skopos
at (917) 533-0506 or write digitalgas@nyc.rr.com
CONTACT: Matthew Bishop
(917) 533-0506
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X96127528
SOURCE Digital Gas, Inc.
CONTACT: Matthew Bishop, +1-917-533-0506, for Digital Gas, Inc.
(DIGG)
http://www.prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.
-0-
KEYWORD: New York
China
Alberta
INDUSTRY KEYWORD: CST
UTI
SUBJECT CODE: CON
PER
TNM
OTC
STOCK SYMBOLS: [(digg)]
2000-12-29 15:49 ET - News Release
Digital Gas Signs a 10 Year Contract to Increase Dong Sheng's Oil & Gas
Production
NEW YORK, Dec 29, 2000 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (DIGG - Pink
Sheets) today announced that it has signed a 10-year renewable contract to
increase the oil & gas production of Dong Sheng Corporation of Shandong
Province, Peoples Republic of China both in China and internationally. The
contract is legal effective immediately.
The application of technologies, methodologies and training to increase
production will be for all present and future properties of Dong Sheng for the
term of the contract. Production increase metering will be at the well head and
calculated according to the value per barrel in the international marketplace.
To enhance contact and cooperation between Dong Sheng and Digital Gas, Qingdao
Haiqing Corporation of the Science and Technology Administration of the Qingdao
City Government shall provide necessary coordination for the life of the
contract.
The scope of the Dong Sheng contract has far surpassed the expectations of
Digital Gas. As a result, the company will place the contract into a separate
company to be named Digital Gas China International, which will be owned by the
current shareholders of the company as of a date to be specified after Digital
Gas has consulted with its investment advisor.
To further the international side of their business, Dong Sheng and Digital Gas
are currently engaged in negotiations for contracts in foreign countries
interested in the technologies, methodologies and training that will be employed
in China.
After consulting with its investment advisor, additional information regarding
this contract and Digital Gas China International will be more fully described.
For further information, contact Leo Murray at (212) 856-4496.
SOURCE Digital Gas, Inc.
CONTACT: Leo Murray, 212-856-4496, for Digital Gas, Inc.
(DIGG)
http://www.prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: New York
China
INDUSTRY KEYWORD: OIL
SUBJECT CODE: CON
2000-11-22 22:21 ET - News Release
Digital Gas Announces Spin-off and China Update
NEW YORK, Nov 22, 2000 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (DIGG - Pink
Sheets) today announced that it plans to form a separate oil & gas enhancement
technology company for the Canadian market.
Earlier this month, Digital gave a presentation in Calgary to one of the world's
leading business advisory firms on the potential of its Dong Sheng contract. At
the same meeting Digital reviewed a highly prospective Canadian oil & gas
property and outlined its plan to operate a separate enhancement company for the
Canadian market. Digital has since received an offer by the advisory firm to
advise the Canadian enhancement subsidiary, which shall be owned in whole or
part by Digital shareholders. Digital accepted the offer.
With the business advisor in place, Digital began negotiating with a Canadian
investment banker to take the enhancement subsidiary public in Canada and assist
it in the raising of drilling and operational funds. The business advisor will
assist in the aforementioned process and when the investment banker is chosen,
Digital will provide additional information regarding the business advisor, the
investment banker and its plan to transfer all or part of the ownership of the
Canadian enhancement subsidiary to its shareholders.
In a separate development, Digital Gas reports that its oil & gas enhancement
team has just arrived at the offices of Dong Sheng Corporation of Shandong
Province, Peoples Republic of China to improve the oil & gas production and
field recoveries on the first 23 wells in Dong Sheng's Weibei Field. These wells
have wax problems. Digital's team analyzed oil and water samples taken from the
October trip and arrived with the wax removal solution.
Digital Gas will earn a significant percentage of the total production of each
Dong Sheng field for little or no direct investment. If the current enhancement
program in the Weibei Field is successful, significant cash flow will be earned
as early as December.
For further information, contact Leo Murray at (212) 856-4496.
SOURCE Digital Gas, Inc.
CONTACT: Leo Murray of Digital Gas, Inc., 212-856-4496
(DIGG)
http://www.prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: New York
China
INDUSTRY KEYWORD: OIL
UTI
SUBJECT CODE: PDT
STOCK SYMBOLS: [(digg)]
2000-10-23 19:03 ET - News Release
Digital Gas Signs Contracts With Dong Sheng Corporation
NEW YORK, Oct 23, 2000 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (DIGG - Pink
Sheets) today announced that it has signed comprehensive oil & gas contracts
with Dong Sheng Corporation ("DSC") of Dongying, Shandong Province, Peoples
Republic of China. The contracts cover all downstream and all upstream
activities.
"The Dong Sheng Corporation is a unique company, even by Western standards,"
said Mr. W. Brian Lunan, a Director of Digital Gas. "The partnership will
rapidly become a major player in China's oil & gas industry with significant
income flows from a broad spectrum of highly profitable areas in the oil & gas
industry," added Mr. Lunan, formerly with Halliburton, NL McCullough, NL
Industries, Schlumberger Overseas, Phillips Petroleum and Uddeholms/D.N.N. in a
variety of senior positions and as the Director of Training in Brazil and
Argentina for Schlumberger.
With the signing of this agreement, the two companies will act in partnership
throughout China effective immediately and Digital Gas will become a totally
integrated operator in China. The partnership has two main objectives. The
immediate objective is to improve oil & gas production and field recoveries in
all of Dong Sheng's fields. In addition, the partnership plans to begin
acquiring new fields for development within China.
Digital Gas will begin work to enhance the production from Dong Sheng's fields
in several weeks. Digital will immediately provide Dong Sheng with the following
technologies: wax, sanding, completion fluids, mud, petroleum refining,
fracturing heavy oil, drilling and completion, as well as engineering and
training on an ongoing basis, including seminars at Dong Sheng headquarters on
advanced petroleum exploration and exploitation and western management theory.
The initial work to recover the production of old wells and to increase the
production rate will be the following: integrated technology and services to
resolve the wax problem of oil wells of Weibei Oilfield; technical design and
integrated services of formation fracturing in the oil wells of Daluhu Oilfield;
technical design and integrated services of formation fracturing in the oil
wells of Niuzhuang Oilfield; integrated technology and services to resolve the
sanding problem of heavy oil in Jinjia Oilfield and integrated technology and
services to resolve the sanding problem of oil wells of Shangdian Oilfield.
Digital Gas will introduce several new business opportunities to the
partnership. A separate business that provides the most advanced technology of
producing drilling fluids and products will be marketed to third parties
throughout the Shengli Oilfield, as well as other major oilfields throughout
China. In addition, Digital will contribute several manufacturing and
distribution opportunities involving leading-edge technology in multi-phase
flow, separation and jet pumping and electronic control systems for pumping oil
wells. These products will be manufactured by the partners in China for the huge
Chinese market and for export, which is an even greater opportunity for both
digital Gas and Dong Sheng.
Over the last month, opportunities to refine oil in mainland China have been
presented to Digital Gas. The company is now in the process of evaluating these
opportunities.
"After a year's process of reviewing and understanding the various opportunities
in China, Digital Gas has selected the Dong Sheng Corporation as its Chinese
partner. Dong Sheng is without question a special company that is uniquely
capable of implementing the proprietary technologies of Digital Gas and its
associated companies," said Mr. John Kirk, Director of Qingdao Digital Gas
Enhancement & Exploration. "Dong Sheng, which is a ten-year old private stock
company, is perfectly poised to grasp the opportunities presented by WTO and has
agreed to utilize Digital Gas as its strong right arm for technical transfers in
a variety of fields, including energy, medical communications, as well as
other," added Mr. Kirk.
In a related development, Digital Gas, through its wholly-owned Qingdao Harbor
Trading, will act as Dong Sheng's agent in the United States and Canada for
PVPs, which are biodegradable polymers with controlled degradation rates and
improved mechanical properties for use in a variety of fields, and other
products produced by the chemical plants of Dong Sheng Corporation. In turn ,
Digital Gas, through Qingdao Harbor Trading, will introduce to Dong Sheng
advanced, patented medical products that it has sourced for handling a variety
of drug and cosmetic purposes, including breakthrough immune-boosting
antivirals.
Digital Gas is prepared to go to contract on the same basis with any qualified
company in Asia with highly prospective properties in need of Digital's state of
the art enhancement technologies.
With the signing of its first oil & gas contract in China, and with many
opportunities in other areas, such as export-import and e-commerce through
Qingdao Harbor Trading, Digital Gas will consult with its financial and
investment advisors to develop and implement a plan to restructure the company
to maximize shareholder value.
SOURCE Digital Gas, Inc.
CONTACT: Leo Murray of PR Associates, 212-856-4496, for Digital Gas,
Inc.
(DIGG)
http://www.prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
-0-
KEYWORD: China
INDUSTRY KEYWORD: OIL
UTI
MTC
SUBJECT CODE: CON
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Most recent events are not that good In reverse Chronology
Latest developments:
Latest developments October 2009. Basically NewJersey courts order Smith to Pay 5.2 Million in illeagel profits gained from selling unregistered shares. I beleive that they have foreclosed on his home to collect. Look to posts starting at 231 as the next few posts show the news coverages
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42040307
New Jersey man must pay nearly $5.2 million in penalties and restitution stemming from a penny stock fraud case.A judge in Monmouth County ruled Monday that Brian Smith sold unregistered stock to 200 investors. The judge found the Spring Lake resident issued news releases that manipulated the price and demand for the stock of a company called Digital Gas, which is now in bankruptcy.The judge said the scheme lasted from 1999 to 2007. He also found that Smith and his wife used investor funds for their personal benefit, including mortgage payments and improvements to their home.Authorities say Digital Gas was a shell company with no real operations. Its Web site claimed it was a business incubator for new technologies in the energy and natural resource fields.
Many many delays in court.
check here eventual;ly we will find him
https://www6.state.nj.us/DOC_Inmate/inmatefinder?i=I
or here
http://php.app.com/datauniverse/inmates/
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HISTORY of court dates:
Jan 29th - MNT FOR FINAL JUDGMENT BY DEFLT A/T DEF DIGITAL GAS
Jan 29th - MTN FOR ATTY STEVENS TO BE RELIEVED AS COUNSEL A/T DEF LYNN SMITH;PER TWC CARRY TO TRIAL DATE
Jan 9th - MTN TO VACATE 7/3/8 ODR STRIKING ANSW OF B.SMITH & ENTEENTER DEFLT A/T B.SMITH ONLY - GRANTED
Jan 9th - MTN THAT BROEGE NEUMANN FIRM BE RELIEVED AS COUNSEL FOR DEF BRIAN SMITH = DENIED
Nov 23- CH 7 converted to CH 7
July 18th hearing for Lynn to change lawyer
July 3rd Motion Granted - MTN TO STK ANSW OF DEF B.SMITH & PAY FEES
June 20th - MTN FOR THE APPOINTMENT OF A RECEIVER FOR DEF DIGITAL GGAS & TO SET TRIAL DATE & PROOF HEARING DATE
New Docket top appoint receiver for April 28th
Feb 29th 2008 - heating to incarcerate Smith - delayed until Marc 28th - No updates as at April 15th
Nov 2nd, 2007 - Oct 19th hearing below delayed until Nov 2nd - Oct 19, 2007 - Motion for monies AUTHORIZE USE OF FUNDS FROM PASEK & OTHERS
Sept 20, 2007 - Sept 7th hearing below dealyed until the 20th
Sept 7, 2007 - Sept 7th next hearing
Motion Type MOTION TO COMPEL DEPOSITION
Motion Comment COMPEL DEPS OF BRIAN SMITH
August 17, 2007 two hearings - Smitty moves to dismiss his lawyers and is successful. the other is that Litigants rights one from June 8th and 19th
JUNE 25,2007 -this post is a news story of the trial
http://investorshub.advfn.com/boards/read_msg.asp?message_id=20741926 No sense clicking on the news link it expired.
June 19,2007 :"ENFORCE LITS RIGHTS AGAIN BRIAN & LYNN SMITH" motion denied?
JUNE 8, 2007 This day had two hearings one was to:"ENFORCE LITS RIGHTS AGAIN BRIAN & LYNN SMITH" and other was "AUTHORIZE USE OF MONIES RETAINER PD BY SIEDELL " The second appeared to have been granted. the former was delayed until June 19th.
May 29, 2007
March 2, 2007 hearing was for depositions
Feb 16,2007 was delayed until March 2nd
Jan 19 2007 hearing from Nov 3rd and Dec 10th that was delayed - court can be found here.
It is the MONMOUTH venue and search on Digital Gas. Not much detail
http://www.judiciary.state.nj.us/acms/MOTN/cv0390w1e.asp
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SEC suspends DIGG for standard two weeks on Nov 17th, 2006
http://www.sec.gov/litigation/suspensions/2006/34-54772.pdf
Official New release by the New Jersey Office of the Attorney General Oct 13 2006
Penny Stock Digital Gas (DIGG.PK), Three Individuals Ordered to Cease Securities Related Activities, Assets Frozen State Seeks Restitution and Civil Monetary Penalties
http://www.njconsumeraffairs.gov/press/pennystock.htm
New Jersey articles on Raid on Smith's home and immediate Civil suit filed by State
http://www.investorshub.com/boards/read_msg.asp?message_id=14019305
http://www.investorshub.com/boards/read_msg.asp?message_id=13989572
http://www.investorshub.com/boards/read_msg.asp?message_id=13980839
I have posted each and every NR starting in 199 until late 2006 and they are in order starting with this post
http://www.investorshub.com/boards/read_msg.asp?message_id=15460580
NIce link to one asset on DIGG website
http://investorshub.advfn.com/boards/read_msg.asp?message_id=15535337
Digital Gas, Inc.
Brian Smith, 732-927-4073
energei@optonline.net
http://www.digitalgas.com
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