CALGARY,
March 14, 2013 /CNW/ - EmberClear
Corp. (TSXV: EMB) ("EmberClear" or the "Company") is
pleased to announce its subsidiary, Future Power PA Inc.
("FPPI"), has begun the process of obtaining equity
financing for the 330 MW natural gas combined cycle ("NGCC")
electricity power plant (the "Project") in Good Spring, Pennsylvania.
Being developed within the largest electricity
market in the United States, the
Project benefits from the expanding production and infrastructure
for natural gas in the local Marcellus
Shale area. Recently issued emission requirements have
resulted in a trend to de-commission older and smaller coal based
power plants in the Project's geography. This positions the Project
to be more competitive and to capture the maximum amount of energy
revenue possible.
EmberClear plans to utilize the latest high
efficiency turbines and the abundant mine water for maximum
operating output. The beneficial use of the acid mine water
improves local streams and watersheds. Further configuration and
resource optimization has increased the total
facility's production by 10% to 330 MW. The conclusion of
the equity financing process is a necessary step towards
construction and delivery of power by 2016.
"EmberClear expects the Good Spring NGCC 1 Power
Plant to be one of the most efficient generators in the market
allowing high utilization and the best possible pricing premiums,"
stated Nick Cohen, Chief Operating
Officer. "We are pleased to see the market respond so positively to
our offering."
When construction begins for Good Spring NGCC 1,
it could employ approximately 500 workers for two years,
culminating in dozens of full-time positions for plant operations.
The economic impact to the surrounding area is expected to be more
than $1 billion over 15 years.
About EmberClear
EmberClear is a global energy development
company specializing in low-emission energy projects. The
Company is primarily focussed on natural gas in the United States as an input to create
electricity, industrial chemicals and transportation fuels. We
utilize our proven expertise in permitting, site-control, and
engineering feasibility to create turnkey projects with contracted
returns suitable for long-term owners and operators of long-life
capital assets. EmberClear's shares are listed on the TSX Venture
Exchange under the trading symbol "EMB".
For more information please visit
www.emberclear.com.
Forward-Looking Statement
Disclaimer
Certain statements contained in this document
constitute forward-looking statements or information (collectively
"forward-looking statements") within the meaning of applicable
securities legislation. Forward-looking statements are typically
identified by words such as "anticipate", "continue", "estimate",
"expect", "forecast", "may", "will", "project", "could", "plan",
"intend", "should", "believe", "outlook", "potential", "target",
"seek", "budget", "predict", "might" and similar words suggesting
future events or future performance. All statements other than
statements of historical fact may be forward-looking
statements. In particular, this document contains
forward-looking statements pertaining to, without limitation, the
following: our intention and ability to finance, construct, and
secure long term off-take contracts for power and gas supply for
the natural gas combined cycle ("NGCC") plant or other energy
projects on the property which would economically create power from
natural gas; to obtain and maintain permits; to build state of the
art power facilities with maximum operating efficiency; the
decommissioning of coal based power plants; and demand for
energy. With respect to forward-looking statements contained
in this document, we have made assumptions regarding, among other
things, the following: the economic viability of a the NGCC
project; the decommissioning of older, smaller coal based power
plants; the economic impact on the region; estimates of employment
opportunities; growing production and infrastructure for natural
gas in the local Marcellus Shale
area; access to natural gas and water supplies; the economic
viability of a NGCC project; natural gas pricing; favourable market
conditions for natural gas power plants; positive trends in capital
markets for natural gas projects; stable investment conditions in
North America; maximizing value of
the natural gas project for shareholders; the benefit of site
proximity to natural gas supply, pricing and access to markets;
attracting appropriate financial participants; and the timing of
construction. Although we believe that the expectations
reflected in the forward-looking statements contained in this
document, and the assumptions on which such forward-looking
statements are made, are reasonable, there can be no assurance that
such expectations will prove to be correct. Readers are cautioned
not to place undue reliance on forward-looking statements included
in this document, as there can be no assurance that the plans,
intentions or expectations upon which the forward-looking
statements are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause our actual performance
and financial results in future periods to differ materially from
any estimates or projections of future performance or results
expressed or implied by such forward-looking statements.
These risks and uncertainties include, among other things, the
following: the possibility that EmberClear will not have the
financial or other resources to develop, construct or operate a
NGCC power plant or other project; the possibility that EmberClear
will not be able to take advantage of the market trends such as the
availability and price of natural gas and electricity pricing.
Readers are cautioned that this list of risk factors should not be
construed as exhaustive. The forward-looking statements
contained in this document speak only as of the date of this
document. Except as expressly required by applicable securities
laws, we do not undertake any obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE EmberClear Corp.
