A number of highly respected people nave joined the IPWG team over the past year. Many of these individuals left their positions at billion dollar corporations to become a part of this up and coming organization. For example, when IPWG acquired the Anovo AB, Add Power, and Scrub Power technologies, the inventor of this technology, Mr. Lennart Strand, joined IPWG too. Mr. Strand held the positions of Chairman of the Board and Chief Technical Officer of another company prior to joining IPWG.
One person of particular interest that was recently appointed to the IPWG board of directors is Sheikh Hani Ahmad Zaki Yamani. Shiekh Hani Yamani is the eider son of H.E. Sheikh Ahmed Zaki Yamani, former Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia. When you combine the appointment of a very powerful man such as Sheikh Hani Yamani to the IPWG board of directors with the current news that IPWG has finalized all of the necessary procedures to establish a Saudi Arabian subsidiary named "IPWG Saudi Limited" and that this subsidiary has received approval from Saudi Arabian authorities to begin construction of waste-to-energy plants within the Kingdom, one must think about the possibilities.
According to IPWG, the Kingdom of Saudi Arabia needs just about ten plants "strategically located" throughout the Kingdom.
One aspect of the IPWG waste to energy plants that is especially beneficial to Saudi Arabia is the creation of water for agricultural purposes. A 2003 assessment of Saudi Arabian water needs found that approximately 70% of the Kingdom's water is supplied by coastal desalination plants. When pumped to inland cities, it is estimated that up to 50% of the pumped water is lost because of problems with the pipeline network. To meet the Kingdom's water needs over the next twenty years, it is projected that Saudi Arabia will need up to fifteen additional water desalination plants at a cost of over $900 million each. Could IPWG's press release concerning the "strategic location" of waste to energy plants be a suggestion that the Kingdom of Saudi Arabia is interested in using IPWG plants as a means to transport water to areas not accessible to water desalination plants?
The appointment of Sheikh Hani Yamani and the creation of a Saudi Arabian subsidiary lead us to believe so. Think about what this could mean… ten plants in Saudi Arabia translates into a possible $3 billion in yearly revenue!
While this sounds great, let’s not forget that IPWG is targeting other countries too. In late March of 2006, IPWG received initial approval to construct two waste to energy facilities in the municipality of Ensenada, Mexico. England could be next. In January of 2006 IPWG opened a new office in London, England. IPWG waste to energy plants could be popping up in the English countryside with the recently released 2006 DEFRA report calling for increased utilization of renewable energy sources!
Mr. Fergus Reid is another person of interest on the IPWG team. Mr. Reid at present serves as the chairman of JP Morgan Chase Mutual Funds and as a trustee of Morgan Stanley Mutual Funds. Mr. Reid functions as an Advisory Board Member for IPWG. Having a good working relationship with Mr. Reid could prove to be very beneficial for IPWG down the line.
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