WILTON, Conn--16 Mar--PRNewswire-AsiaNet/InfoQuest
First-of-its-kind Project to be the $84 Million Future Fuel Tires-to-Ethanol Facility in Toms River, New Jersey
Startech Environmental Corporation (OTC Bulletin Board: STHK), a fully reporting company, announced today that Startech and Future Fuels, Inc., (FFI) a subsidiary of Nuclear Solutions, Inc., (OTC Bulletin Board: NSOL) of Washington, D.C., have formed a Strategic Alliance Agreement to mutually obtain contracts for waste-to-ethanol facilities and also for FFI's own $84 million Waste-to-Ethanol Facility to be constructed in Toms River, New Jersey.
The Company has also received the Letter Of Intent from FFI for FFI's purchase of a 100 ton-per-day Startech Plasma Converter System (PCS) for installation in the first-of-its-kind Waste-to-Ethanol Facility in Toms River, scheduled to go on-line in late 2007. The PCS will safely and completely destroy the tires in its process that results in a clean synthesis gas product called Plasma Converted Gas (PCG)(TM). The Plasma Converter will be attached to the front of the FFI system. PCG produced will be piped directly into the FFI system to make commercial fuel-grade ethanol for sale. Plans also call for the Toms River Facility expansion to include a series of additional Startech 100 ton-per-day modular Plasma Converter Systems.
President of FFI, Jack Young, said, "We welcome partnering with Startech to fuse their expertise and commercial experience in plasma processing technology with FFI's unique business model to convert abundant waste feedstocks into ethanol. Where Startech provides front-end technology to transform a variety of waste products into syngas, FFI provides the back-end catalytic process to convert that syngas into useful products such as ethanol, higher alcohol fuels and synthetic fuels, like diesel, gasoline and kerosene (jet fuel). The Strategic Alliance between FFI and Startech will open more doors into the U.S. ethanol market for both companies as well as to customers in Europe, Asia and South America where Startech currently has initiatives underway," states FFI President Jack Young.
Joseph F. Longo, Startech president said, "The Startech-FFI teaming is a perfect fit that will help increase Startech's market penetration and sales at home and overseas. As a result of the FFI press release on March 13, 2006 announcing the Alliance, we have already received lively interest from our Sales Representatives, Distributors and potential customers in the U.S., Central America, Australia, Asia and the European Union.
"We are especially pleased to know that we will be a significant part of the new $84 million FFI Toms River Ethanol Facility.
"Ethanol is an important renewable fuel, derived from ubiquitous feedstock materials previously regarded as wastes. When added to gasoline, it will help America move further towards energy independence and actually reduce greenhouse gas emissions.
"Startech processing customers are paid for receiving waste feed stocks at the front-end of the System and paid for producing and selling the resulting commercial products at the back-end. To the many commodity products that can be made from PCG, we have now added FFI fuel-grade ethanol fuel. Fuel-grade ethanol is about 199 Proof. Two hundred proof is 100% ethanol. Industrial ethanol, for paint thinners, solvents and so forth, is typically about 160 Proof.
"An important fact sometimes overlooked is that waste is an inexhaustible, renewable, ever-recurring resource."
About Future Fuels (FFI)
Future Fuels Inc., a subsidiary of Nuclear Solutions Inc., is implementing its proprietary technology and process to convert low-end carbonaceous waste materials such as used tires, petro-waste, waste coal, wood wastes, raw sewage, discarded corn stalks, residential waste, industrial waste and agricultural byproducts into ethanol; a clean renewable fuel.
The New Jersey Economic Development Authority announced that the resolution for the preliminary approval of $84 million tax-exempt bond financing for FFI has been fully executed and officially adopted by the State of New Jersey. The tax-exempt bonds will be used for the design, construction and start-up of the first-of-its-kind 52 million gallon-per-year waste-to-
FFI has the lease agreement in place to construct the facility in Toms River and it has also secured pre-approved state and local environmental permits to operate the new facility. It already has the source of feedstock, on site, and available from its tire recycling network, suitable for complete life cycle production of clean ethanol.
FFI also has a 10-year contract with Eco-Energy, Inc., of Tennessee for Eco-Energy to purchase approximately 50 million gallons of the ethanol produced annually from FFI's new waste-to-ethanol facility. Eco-Energy is one of the country's principal marketing companies in the ethanol industry with ethanol being the largest share of its business.
FFI is pursuing additional sites for waste-to-ethanol plants throughout the United States.
For further information, please visit http://www.nuclearsolutions.com or contact Patrick G. Herda or Jack Young at (202) 536-4653 or at [email protected] .
About Ethanol
While ethanol has been used in motor fuels in the United States for the last century, its commercial use began in 1978. At that time, Congress pursued a public policy to create a fuel-grade ethanol industry and enacted an excise tax exemption to incentivize ethanol production from renewable sources. As a result, the industry grew from virtually zero production in 1978 to a
Historically, ethanol has been made from corn crops grown for that purpose and then purchased at market price. FFI will produce fuel-grade ethanol from an abundance of readily available waste products, which it will receive at zero-cost. Now, with the inclusion of the Plasma Converter, FFI can even expect to be paid to receive waste feedstocks that will be converted into ethanol.
The worldwide market for fuel-grade ethanol is important and growing.
About Startech - a Waste Industry and Energy Company
Startech Environmental is a Waste Industry and Energy company engaged in the production and sale of its innovative, proprietary plasma processing equipment known as the Plasma Converter System(TM). The Plasma Converter System safely and economically destroys wastes, no matter how hazardous or lethal, and turns them into useful and valuable products. In doing so, the System protects the environment and helps to improve the public health and safety. The System achieves closed-loop elemental recycling to safely and irreversibly destroy Municipal Solid Waste, organics and inorganics, solids, liquids and gases, hazardous and non-hazardous waste, industrial by-products and also items such as "e-waste," medical waste, chemical industry waste and
The Startech Plasma Converter is essentially a manufacturing system producing commodity products from feedstocks that were previously regarded as wastes. Startech regards all wastes, hazardous and non-hazardous, as valuable renewable resources.
For further information, please visit http://www.startech.net or contact Steve Landa at (888) 807-9443, (203) 762-2499 x148 or [email protected] .
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the development and commercialization of its Plasma Converter(TM) technology. All forward-looking statements are subject to risk and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, failure of the customer to obtain appropriate financing for the project, general risks
SOURCE: Startech Environmental Corporation
CONTACT: Patrick G. Herda or Jack Young
+1-202-536-4653
Steve Landa
1-888-807-9443
+1-203-762-2499 x148
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
Web site: http://www.startech.net
http://www.nuclearsolutions.com
--Distributed by AsiaNet ( www.asianetnews.net )--
First-of-its-kind Project to be the $84 Million Future Fuel Tires-to-Ethanol Facility in Toms River, New Jersey Startech Environmental Corporation (OTC Bulletin Board: STHK), a fully reporting company, announced today that Startech and Future Fuels, Inc., (FFI) a subsidiary of Nuclear Solutions, Inc., (OTC Bulletin Board: NSOL) of Washington, D.C., have formed a Strategic Alliance Agreement to mutually obtain contracts for waste-to-ethanol facilities and also for FFI's own $84 million Waste-to
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