Followers | 3344 |
Posts | 84629 |
Boards Moderated | 6 |
Alias Born | 10/05/2005 |
Tuesday, May 02, 2006 6:29:58 AM
Tuesday May 2, 6:00 am ET
LOS ANGELES--(BUSINESS WIRE)--May 2, 2006--MEMS USA, Inc. (a.k.a. CONVERGENCE ETHANOL, Inc.), (OTCBB: MEMS - News), an engineered systems and ethanol project developer, announced that its Canadian project, Hearst Ethanol One, Inc. ("HEO"), acquired a 720 acre ethanol plant site. Also purchased was an inventory of more than 2.0 million tons of biomass (wood chips) to feed its ethanol refinery. The site has 5 contiguous parcels of real property (no liens or encumbrances) in the village of Hallebourg, located 7 miles east of the northern Ontario town of Hearst. On one parcel is a fully certified, bonded and operational government licensed biomass storage area. The on-site inventory of biomass purchased in this transaction will produce more than 200 million gallons of ethanol, which at current market price ($2.68 per gallon) would be worth more than $536 million.
ADVERTISEMENT
HEO has identified 29 other biomass storage areas within 65 miles of its site, adequate to supply the plant for 20 years. The property also contains a rock quarry to provide aggregate for plant construction. The site offers excellent access to transportation via the immediately adjacent TransCanada Highway, TransCanada Natural Gas Pipeline, and Northern Ontario Railway (ONR).
Plant operation will begin within 30 months of full funding. The HEO facility will cost $310 million to build and will produce 120 million gallons of ethanol per year. It will employ 230 people full time when completed.
In December 2005 MEMS USA announced it had formed a Canadian corporation, Hearst Ethanol One, Inc., for the purpose of constructing this biomass-to-ethanol plant. (See 8K announcement dated December 21, 2005 and press release on January 4, 2006).
CONVERGENCE ETHANOL, Inc. announced its intent to change its name from MEMS USA, Inc. (See press release dated April 5, 2006).
For more information visit the Company's web site at www.memsusa.com or www.convergenceethanol.com
Recent MEMS News
- COMMUNIQUE DE MISE A DISPOSITION DES DOCUMENTS PREPARATOIRES A L’ASSEMBLEE GENERALE ORDINAIRE ANNUELLE DU 31 MAI 2024 • Business Wire • 05/03/2024 04:30:00 PM
- Double-Digit Growth in Aerospace and Medical Sales • Business Wire • 04/29/2024 04:36:00 PM
- CROISSANCE A 2 CHIFFRES DES VENTES AERONAUTIQUE ET MEDICAL • Business Wire • 04/29/2024 04:36:00 PM
- COMMUNIQUE DE MISE A DISPOSITION DU RAPPORT FINANCIER ANNUEL AU 29 AVRIL 2024 • Business Wire • 04/29/2024 08:00:00 AM
- DECLARATION DU NOMBRE TOTAL DE DROITS DE VOTE ET D’ACTIONS COMPOSANT LE CAPITAL SOCIAL AU 24 AVRIL 2024 • Business Wire • 04/25/2024 04:00:00 PM
- VISIOCONFERENCE ACTIONNAIRES ET INVESTISSEURS MARDI 30 AVRIL 2024 09H00 • Business Wire • 04/19/2024 04:30:00 PM
- Memscap: 2023 Earnings • Business Wire • 03/27/2024 05:30:00 PM
- RESULTATS ANNUELS 2023 • Business Wire • 03/27/2024 05:30:00 PM
- VISIOCONFERENCE ACTIONNAIRES ET INVESTISSEURS JEUDI 28 MARS 2024 11H00 • Business Wire • 03/15/2024 01:00:00 PM
- MEMSCAP Is Awarded a New Major Innovation Project From the Norwegian Research Council • Business Wire • 02/19/2024 05:30:00 PM
- MEMSCAP OBTIENT UN NOUVEAU PROJET D'INNOVATION MAJEUR FINANCÉ PAR LE CONSEIL NORVÉGIEN DE RECHERCHE • Business Wire • 02/19/2024 05:30:00 PM
- Memscap Confirms Its Eligibility for French PEA-PME Savings Plans • Business Wire • 02/08/2024 05:30:00 PM
- MEMSCAP CONFIRME SON ELIGIBILITE AU PEA-PME • Business Wire • 02/08/2024 05:30:00 PM
- DECLARATION DU NOMBRE TOTAL DE DROITS DE VOTE ET D’ACTIONS COMPOSANT LE CAPITAL SOCIAL AU 25 JANVIER 2024 • Business Wire • 01/26/2024 05:30:00 PM
- CALENDRIER FINANCIER • Business Wire • 01/24/2024 05:30:00 PM
- Financial Calendar • Business Wire • 01/24/2024 05:30:00 PM
- Growth of 47.0% for Quarterly Revenue and by 50.7% for FY 2023 Revenue • Business Wire • 01/23/2024 05:30:00 PM
- CROISSANCE DE 47,0% DU CHIFFRE D'AFFAIRES TRIMESTRIEL ET DE 50,7% SUR L'EXERCICE 2023 • Business Wire • 01/23/2024 05:30:00 PM
- PARTICIPATION AU RETAIL DAY ORGANISE PAR EUROLAND CORPORATE ET BOURSE DIRECT MERCREDI 7 FEVRIER • Business Wire • 01/22/2024 05:30:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM