Monday, February 11 2008 7:44 PM, EST
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Global Energy Signs Agreement with Covanta Energy for Waste to Renewable Diesel Projects
Business Wire "US Press Releases "
NEW YORK--(BUSINESS WIRE)--
Global Energy (OTCBB:GEYI), an emerging leader and innovator in the renewable energy and clean fuel markets with a focus on the processing of waste materials into diesel fuel - today announced that it has entered into an agreement with Covanta Energy Corporation in connection with the joint ownership of projects utilizing a proprietary technology (the "Technology") that converts household waste and other waste containing hydrocarbon materials into a renewable diesel fuel.
Global's agreement envisions a long-term cooperation between the parties and allows Covanta to develop projects using the Technology with certain feedstocks in the United States and several other countries. Covanta has ordered an initial system for the United States market to demonstrate the commercial viability of the Technology.
Covanta Energy Corporation is an internationally recognized owner and operator of energy-from-waste projects and renewable energy projects. Covanta's energy-from-waste facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States. For more information, visit www.covantaholding.com.
Asi Shalgi, Chief Executive Officer of Global, stated that "We are very excited about the partnership that we forged with Covanta and believe this relationship will more rapidly demonstrate the capability of the Technology, thereby accelerating Global's growth."
About Global
Global's mission is to commercialize innovative technologies which produce energy from waste and other renewable sources, while contributing to a cleaner environment. Global is making use of efficient and environmentally friendly developed and patented systems.
