NEGS JV News AUSTIN, TX -- (MARKET WIRE) -- 11/30/10 -- Applied Concepts for Energy Corp. , a subsidiary of NX Global, Inc. (OTCBB: NEGS) announced today its second joint venture in as many weeks to develop brownfield sites in Canada .
This joint venture follows the same general pattern as the first and includes biomass marketing and products requiring large amounts of carbon. This venture also provides access to the license for the method and production of the waste disposal equipment and direct access to the manufacturing of the component equipment required for the solution. This agreement will help contain our development costs allowing us to be highly competitive in our fees and resale of products. We anticipate a reduction in costs of 15% to 25% of the overall costs compared to the cost of similar solutions built in Germany .
Upon signing this agreement the venture immediately began the negotiations for the lease/purchase of several tracts totaling 400 acres north of Ottawa, Ontario, Canada which is perfectly suited for our business model. This site includes sufficient water from the Ottawa River , a rail spur and substantial biomass already on site. The site comes with an agreement for a minimum of 100,000 ton of municipal solid waste per year for disposal and further utilization in composting. The rail line at this site will allows solicitation of additional waste from Ottawa and Montreal . The closure of the final waste dumps for the region in 2012 provides opportunity to become a major supplier of the waste solution. The system has been used in various sizes in Europe at many sites for most of the last two decades and is highly efficient.
The site has other waste and environmental companies already under construction showing little if any permitting concerns for the operation. A landfill for solid waste is on site.
Forward-Looking Statement: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.
NX Global, Inc. Robyn Bailey Global Green Resources 16238 Ranch Road Suite F-108 Austin, Texas 78717 877 249 9089 Email Contact http://www.globalgrn.com
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