CALGARY, Dec. 2, 2014 /CNW/ - EmberClear Corp. (TSXV: EMB)
("EMB" or "EmberClear") today announced its unaudited financial
results for the three-month period ended September 30, 2014.
EMB's net loss for the three-month period was reduced to
$371,842 as compared to a loss of
$1,189,949 for the same period in the
prior year.
David Anderson, CEO, commented:
"We are pleased to see many of the long-term cost cutting
initiatives we have put in place since early 2014 begin to take
shape. Our recently achieved scale has put us in a competitive
position to develop energy projects in North America".
EMB's financial statements, management's discussion and
analysis, and related information can be found on SEDAR at
www.sedar.com.
About EmberClear
EmberClear is an energy
developer focused on low emission commercial scale projects
primarily in North America.
Developing facilities using natural gas as inputs to create
electricity or transportation fuels characterizes our plants. We
utilize our proven expertise in permitting, site control and
engineering feasibility to develop projects that are sold to
investors interested in purchasing, constructing and operating such
energy projects. EmberClear is developing gas to liquids (GTL) and
gas to power (NGCC) generating facilities in North America. Our NGCC Projects benefit from
a favorable geographic location that offers access to abundant
natural gas reserves and a power market that is served primarily by
older, coal fired, electric generation facilities, expected to be
phased out over time. EmberClear also holds surface and
mineral rights in Schuylkill County,
Pennsylvania. This property is situated in the Southern
Anthracite coalfield of eastern Pennsylvania, USA. Mineral rights held by the
company include Anthracite/PCI coal suitable for the steel making
industry. 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 through a 50:50 partnership to
complete Good Spring I and II natural gas combined cycle ("NGCC")
337 MW power plants and economically create power from natural gas;
the intention to tie the power into the PJM electricity market; our
ability to progress the NGCC power plant to the construction stage
and sell the remaining 50% stake to TYR; the potential to begin
construction as early as June 2014;
the NGCC plants will have access to affordable natural gas; the
high efficiency power plant will produce low cost, reliable power;
and the NGCC projects have the potential to create hundreds of
jobs. With respect to forward-looking statements contained in
this document, we have made assumptions regarding, among other
things, the following: the timing of construction; the economic
impact on the region; estimates of employment opportunities; access
to affordable natural gas; the economic viability and performance
of the NGCC power plants; favourable market conditions for natural
gas power plants; positive trends in capital markets for natural
gas projects; stable investment conditions in North America; and the production of two
plants at 337 MW each into the PJM market. 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 co-develop the NGCC
power plants; and, 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.
