To remember:$10,000,000.00 USD sale to South American firm first major step for providing clean electricity.
SALT LAKE CITY, March 13 /PRNewswire-FirstCall/ -- Refill Energy, Inc. "The Company" (Pink Sheets: REFG), headquartered in Salt Lake City, UT, today announced the signing of a ten million dollar ($10,000,000 USD) contract with Nueva Esperanza of Peru, who holds extensive coal mines and reserves that will provide clean energy to Peru, Brazil, Chile and other parts of the world. Closing of the sale is expected to occur in late April, 2010.
Under the terms of the contract, Nueva Esperanza will acquire 49% of Refill's wholly owned subsidiary Green N-ergy, which holds Exclusive Worldwide License and marketing rights to Refill Energy's Gasification and Reactor technologies.
The flagship project is the construction of a 200 Megawatt Coal to Electricity facility in Peru; resulting in substantial sales and royalty earnings to Refill.
"The ability to play a key role in creating true 'clean coal' electricity in Central and South America is a phenomenal 'first step' in our development. To partner with a company with three generations of coal mining operations gives us a tremendous advantage," stated Mit Ebeling, President of Refill Energy.
"We can turn a trash can into a gas can," explained Ebeling. "The implications for the field of renewable clean energy are monumental. This is what the world has been waiting for."
Refill Energy's patented Downdraft Gasification technology provides significant advantages and is capable of producing large volumes of clean, renewable energy from the conversion of any carbon-based feedstock either solid or liquid, such as municipal solid waste (MSW), coal, sewage sludge, agriculture waste and carcasses to a flexible combination of electricity, steam, ethanol, fuels, chemicals and hydrogen. For each ton of Feedstock, the Refill Energy technologies can produce approximately 1+ Megawatt Hours (MWH) of electricity, or 100 Gallons (+/-) of useable fuels. This primary energy is converted with greater efficiency and with less waste than current methods.
Refill Energy's unique Gasifier produces a clean Synthesis gas (made up primarily of Hydrogen and Carbon Monoxide). The Syn-Gas is able to be used in an Integrated Gasification Combined Cycle (IGCC) to efficiently create electricity or be converted by a Catalytic Slurry Cyclone Reactor licensed by the University of Utah into liquid fuels (Dimethyl Ether, Ethanol, Gasoline, Jet Fuel or Diesel Fuel). The Dimethyl Ether (DME) like Syn-gas is a building block used in the chemical industry and can be converted by the Reactor to several different products, depending on the catalyst used.
Results are 100 % renewable "Green" energy, water and air emissions that are environmentally safe.
For further information please visit our website at www.refillenergy.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "can", "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
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