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This press release was originally distributed via the eWire press wire service (2002–2016). It is preserved here as a historical record.
Startech Environmental Receives Letter of Intent for Mobile Plasma Converter for Ireland
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
Startech Environmental Receives Letter of Intent for
Mobile Plasma Converter for Ireland
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TO BUSINESS, ENVIRONMENTAL AND TECHNOLOGY EDITORS:
Startech Environmental Receives Letter of Intent for
Mobile Plasma Converter for Ireland
CONNECTICUT, WILTON, Jun. 27 -/E-Wire/-- Startech Environmental Corp. (Nasdaq: STHK), the world leader in plasma waste remediation and recycling technology, announced today that it has received a Letter of Intent from Eco Tech Ltd., of Ireland for its purchase of a 20,000 pound per day Mobile Plasma Converter system to process hazardous waste in Ireland. Two days of meetings on detailed engineering specifications and contract terms held at Startech's Demonstration and Training Center in Bristol, Connecticut were successfully completed yesterday. The Letter of Intent also provides for the purchase of a 100-ton per day stationary system at a later date.
Joseph S. Klimek, Executive Vice President of Startech said, "This will be our first fully mobile system, and it's the kind of system that can be used by many governments and industries around the world for the cleanup of contaminated sites, sludge sites, and for emergency responses of all sorts. The Eco Tech Converter is capable of being driven from location to location to process wastes on site, for customers whose waste amount isn't large enough to support a permanent on-site Plasma Converter."
Peter J. Scanlon, Vice President of Startech said, "It's gratifying to see the effort we have expended in Ireland over the last year in speaking with, and educating, citizen groups, regulators and businesses on the benefits of the Plasma Converter culminate in a successful manner. Understanding that new technology should be embraced and put to use is another reason why Ireland's economy continues to be one of the fastest growing markets in the world today. The Emerald Isle will now truly be green."
Prior to the contract being issued, Eco Tech has to confirm the terms with the financial institution that will fund the project, and receive the final approval document from the Irish Environmental Protection Agency.
About Startech Environmental Corp: Startech is an environmental equipment company whose Plasma Converter is essentially an electrochemical system that, while safely destroying wastes, even hazardous wastes, converts those materials into useful and valuable commodity products. It does this economically, efficiently, with relatively few moving parts, and without combustion. The prime mover in the Plasma Converter process is the chemical dissociation (decomposition) of the feed materials after which their elemental components (atoms) are reformed into useful commodities. The United States Environmental Protection Agency has designated materials, even if they may have once been regarded as wastes, or hazardous wastes, undergoing such a recycling process, no longer as wastes, but as "feedstocks."
For further information, contact Robert L. DeRochie, VP of Investor Relations, or see the Startech web page: http://www.startech.net
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, general risks associated with product development, manufacturing, rapid technological change and competition as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Startech Environmental Corp.
http://www.startech.net
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