Environmental Technologies Signs Joint Venture Agreements.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--April 9, 1996--ENVIRONMENTAL TECHOL'S(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : EVK EVK Empfohlener Verkaufspreis (German) ) Environmental Technologies Inc. ("ETi") of Calgary, listed on the Alberta Stock Exchange (EVK), has announced its wholly owned Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. subsidiary, Environmental Technologies China Ltd. ("ETCL") has signed two joint venture contracts with city owned corporations of Hangzhou Hangzhou (hang`jō`) or Hangchow (hăng`chou), city (1994 est. pop. 1,184,300), capital of Zhejiang prov., E China. and Guangzhou, China, to develop small power production utilities using landfill gas extracted from the local landfills. These projects will be the first of their kind in China and have full support of the municipal and state government levels. Both projects have been approved by the Ministry of Foreign Trade and Economic Co-operation. These power utilities will initially generate a total of 2.6 megawatts of power at a capital cost of $5.2 million U.S. Power generation will increase to 8 megawatts in the future as more refuse is placed in the landfills. Financing of these projects is currently being arranged by ETi. Power production at these utilities is expected to start in late 1996 and early 1997. The Hangzhou project is China's Agenda 21 landfill gas pilot project for China. The joint ventures will build, own and operate the utilities selling the electricity to the local power utilities on a continuous basis for 15 years. ETCL has signed Memorandums of Understanding with three other large cities to develop similar power projects in 1997. ETCL has also signed an agreement with the Academy of Urban Construction, a division of the Ministry of Construction, People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. Government of China, Beijing, to work together on a cooperative joint venture basis to develop landfill gas energy projects throughout China. This agreement requires final approval of the Central Government. ETi sees China as having tremendous growth potential in this area of alternative energy resources. China currently collects approximately 120 million tons of municipal solid waste “Municipal waste” redirects here. For other uses, see Municipal waste (disambiguation). Municipal solid waste (MSW) is a waste type that includes predominantly household waste (domestic waste) with sometimes the addition of commercial wastes collected by a per year and this figure is increasing at 6 to 7 percent per year. ETi has developed and conducted work on landfill gas projects in Canada as well as internationally in the U.S.A., Africa and China. The Alberta Stock Exchange has neither approved nor disapproved this release. CONTACT: Environmental Technologies Inc. Dick Collens President 403/221-9797 403/261-7982 (FAX) |
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