|
NEWS RELEASE
NOVEMBER 7, 2005
Englewood, Colorado- (BUSINESS WIRE) - November 7, 2005.--Green Energy Corp. (OTC: GEYC) announced that it, jointly with BioConversion Technology, LLC, has signed a Manufacturing and Sales License Agreement with Crestwave Technologies (Pty) Ltd of Johannesburg, South Africa.
Green Energy holds a patent license on the BCT Gasifier invented and developed by BioConversion Technology. The BCT technology that converts carbon-containing waste including biomass, sewage sludge and municipal solid waste into a synthetic gas (syngas). The produced syngas can be burned in a micro turbine or internal combustion engine to generate electricity, or can be further catalytically converted into high-Btu synthetic natural gas or motor transportation fuel such as ethanol. Crestwave, a South African engineering/construction firm, has acquired a sublicense from BioConversion Technology and Green Energy to build and sell BCT gasifiers throughout Africa and the Indian Ocean islands.
Crestwave and Green Energy Corp. intend to sell gasifiers to communities throughout Africa to provide electricity to communities that lie beyond the reach of the limited electrical grids of the developing nations of the region. At present, where off-grid electric power is available, it is generated by diesel engines that burn expensive fossil fuel. Since Green Energy's technology is not based on fossil fuel energy, but uses biomass waste instead, it is less costly and does not add to the emission into the atmosphere of additional carbon.
Economics as well as environmental motives will drive the applications of gasification technology. The environmental consideration is expected to play a major role in the granting of financial aid to Africa by the developed nations of the world.
South Africa is the home of SASOL, the largest gasification complex in the world. SASOL's technology is based on the world-famous German Lurgi process. "We are proud that our technology was selected by experts as the technology of choice for this specific application", said Dutch Hildebrand, chief engineer of Green Energy Corp.
This press release may also contain certain information about Green Energy's business prospects and financial projections. These are only prospects and projections based on good faith current expectations of Green energy's management. Green Energy makes no representations or warranty as to the attainability of such assumptions or as to whether future results will occur as projected.
For more information contact:
Green Energy Corp.
Dennis Murphy, 303-790-8503
[email protected]
|
