General Environmental Management Announces LOI with Bio-Energy Solutions Group for Management of Waste-to-Energy Project in B...
24 6월 2010 - 5:05AM
Business Wire
General Environmental Management Inc. (GEM) (OTCBB: GEVI)
announced today that it has entered into a Letter of Intent to
execute formal agreements with Bio-Energy Solutions Group, Inc.
(BESG) to manage their waste-to-energy operations in Pernambuco,
Brazil, including the collection and processing of municipal solid
waste and subsequent conversion to alternative energy. The
management agreement will have a term of 15 years.
“We are very pleased to have entered into a Letter of Intent to
formalize a management contract services relationship with BESG,”
stated Timothy J. Koziol, CEO of GEM. “BESG has contracts for 34
towns in the state of Pernambuco, Brazil, with additional towns
requesting contracts. BESG offers a compelling alternative to the
traditional landfill approach by reducing municipal solid waste
using natural processes, extracting marketable recyclates from the
waste input stream, and enabling the residual biomass to be used as
feedstock for generating renewable energy in an environmental
friendly manner.”
Koziol continued, “This waste-to-energy (WTE) project is
enormous in scope, and GEM will have to consider the best use of
resources to accomplish the management of this project, but we are
pleased to have been chosen and look forward to making this project
the main focus of our business activities. GEM will therefore not
complete the financing and acquisition of California Living Waters.
The formal purchase agreements called for GEM to make a payment to
United Stated Environmental Response LLC on June 30, 2010, which we
will not make. Although we believe in the opportunity to build a
strong and profitable company with Southern California Waste Water
as a foundational entity, we will change our focus to the WTE arena
and build an international enterprise with BESG, beginning with
Brazil.”
John Creel, CEO of BESG, commented, “I am thrilled to have the
GEM management team join forces with BESG. We expect them to bring
the same expertise for growth and development that catapulted them
onto Deloitte’s 2009 Technology Fast 500 Ranking for North America
as we provide solutions to some of the waste issues affecting our
environment today. The world is faced with massive problems
involving landfills, including running out of room, destruction of
the surrounding environment, and the atmospheric pollution of
nearby communities. Municipalities around the world are seeking an
affordable answer to these ever-increasing problems. What better
solution than to collect and convert the waste in a process that is
eco-friendly and produces much needed eco-friendly power through
our patented technology.”
Johannes Steinacker, BESG Executive Vice President of Sales for
South America, has methodically built a strong presence in Brazil
over the past two years. In 2008, he was appointed by the Brazilian
government to be their Special Secretary of State for Foreign
Business and Investment, and later resigned when offered the
position of Vice President of the newly formed Chamber for New
Business Development for the State of Pernambuco. Steinacker said,
“The initial installation of a facility in the state of Pernambuco,
Brazil is expected to serve primarily organic materials from towns
in two states. It is anticipated that 4,900,000 tons per year of
feedstock from over 368 municipalities will be managed by this
initial facility by the end of 2011.”
“Although the task is challenging, we believe the need for a
solution like the one BESG brings to the table is critical, and we
are thrilled to partner with BESG,” said Bill Mitzel, President and
COO of GEM. “We have proven our ability to manage and provide
environmental solutions, and believe this solution may be the
beginning of a long-term solution for WTE operations.”
About General Environmental Management, Inc.
General Environmental Management, Inc. (www.go-gem.com) provides
environmental services and solutions. GEM is headquartered in
Pomona, California.
FORWARD-LOOKING STATEMENTS
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this press release that address activities, events or
development that the company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause the Company's actual results to differ materially
from those implied or expressed by the forward-looking statements.
The Company assumes no duty whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
General Enterprise Ventu... (PK) (USOTC:GEVI)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
General Enterprise Ventu... (PK) (USOTC:GEVI)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
