Mid Morning News!
Global Clean Energy Receives Revenue for the Performance Testing of the World's First Hybrid Steam Reforming Gasifier
HOUSTON, TX, Jan 20, 2010 (MARKETWIRE via COMTEX) -- Global Clean Energy, Inc. (OTCBB: GCEI) has as of December 31, 2009 booked $45,000 of revenue received from the City of Salaberry-de-Valleyfield in furtherance of its field testing of an innovative gasification project to convert Municipal Solid Waste (MSW) and industrial waste to synthetic gas and biodiesel.
Global Clean Energy, Inc. has executed an agreement with Salaberry-de-Valleyfield to build, install and operate the gasifier using municipal waste which is currently being sent to landfill. The goal of this three phase project is to reduce the municipality's landfill waste by a minimum of 50%, with the additional benefit of converting the waste into useful energy in the form of biodiesel.
Funding for the project is being provided by the City of Salaberry-de-Valleyfield and Global Clean Energy. Additional support is being supported by a series of grants from the Green Municipal Fund (GMF) of the Federation of Canadian Municipalities and the RMC of Beauharnois-Salaberry. Funding for Phase 1, to be completed by the end of June 2010, will be close to $1 million.
Global Clean Energy is utilizing its operational partners, Cascades Engineering and Concordia University, in the entire scope of the project.
"We are privileged to lead this project to create biodiesel from municipal waste, which will benefit Salaberry-de-Valleyfield and its region and serve as a model for other municipalities across North America," GCE President and CEO Dr. Earl Azimov said. "This project will demonstrate our expertise in gasification and the testing and analysis of municipal solid waste will provide practical knowledge to both the city and ourselves, as we continue to lead the way in developing solutions for municipal and industrial waste."
"The city of Salaberry-de-Valleyfield is very proud of its ongoing efforts to be ecologically friendly," said Mr. Michel Joly, Director of Development and Assistant to Executive Director. "Our goal to reduce landfill from municipal waste will have long-term benefits to our citizens and potentially a service we can provide to our neighboring municipalities. We have been working closely with Global Clean Energy in all phases of this project and are extremely pleased with our progress to date."
Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act 1933 and Section 21B of the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting the GCEI and its business. A number of these risks and uncertainties are described in GCEI's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and reader should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. The GCEI will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
Contact:
GLOBAL CLEAN ENERGY INC.
Investor Relations
303-522-8449
