BioSafe receives landmark permit for Fairhaven landfill.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 12, 1996--BioSafe International Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BSFE BSFE Bureau of Surveillance and Field Epidemiology ) announced today that it has received a permit from the Commonwealth of Massachusetts authorizing the company to accept tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, directs that to ascertain the tonnage of any ship or vessel, the surveyor, &c. in a portion of its solid waste landfill in Fairhaven, Mass., that has undergone the company's landfill remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling process for recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. landfills. In announcing the receipt of the permit, Philip Strauss, BioSafe's chairman, president and chief executive officer, said, "This permit represents a major milestone for BioSafe, as it is the first permit that we have ever received for a remodeled landfill cell, and it represents a major confirmation of the landfill remodeling approach. By issuing the permit, Massachusetts has shown its confidence in BioSafe and its landfill remodeling process." Strauss further noted, "This permit paves the way for BioSafe to increase the tonnage that we accept at the Fairhaven landfill." Since July 1995, BioSafe has been receiving waste at the landfill at the rate of 150 tons per day, and with the receipt of this new permit, BioSafe expects to begin accepting 394 tons of waste per day in late 1997. Strauss also said, "We believe that the receipt of the permit sets the stage for the commencement of our previously announced landfill remodeling contracts at the municipal landfills in South Hadley South Hadley, residential town (1990 pop. 16,685), Hampshire co., W Mass., on the Connecticut River near the Holyoke Range; settled 1684, inc. 1775. Its paper industry dates from the early 19th cent. and Buckland, Mass. We expect that the successful landfill remodeling project at Fairhaven will encourage municipalities in other states to use the BioSafe approach in dealing with their unlined landfills." BioSafe has been operation the 23-acre Fairhaven municipal landfill since July 1995. The town of Fairhaven was facing a multi-million dollar cost from the mandated closure of its unlined landfill, and it selected BioSafe to provide the town with an alternate solution to the landfill's closure. Since then, while operating the Fairhaven landfill, BioSafe has used its landfill remodeling process to excavate and recycle re·cy·cle tr.v. re·cy·cled, re·cy·cling, re·cy·cles 1. To put or pass through a cycle again, as for further treatment. 2. To start a different cycle in. 3. a. the first of several cells in the landfill and to install the required liner and leachate leach·ate n. A product or solution formed by leaching, especially a solution containing contaminants picked up through the leaching of soil. collection system in the remodeled cell. BioSafe's agreement with Fairhaven relieves the town of its pending closure costs, provides current income to the town through a host-free arrangement, and extends the landfill's life for about 10 years. During the life of its landfill remodeling contract with Fairhaven, BioSafe expects to generate more than $55 million in revenues. BioSafe International Inc. is an innovative solid waste management company and the world's leader in "landfill remodeling," a patented process that BioSafe had developed for recycling existing landfills. CONTACT: BioSafe International Inc. Philip Strauss, 617/497-4500 or Liviakis Financial Communications Inc. Robert Prag, 916/448-6084 |
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