Pacific Green Technologies Inc. Acquires 49 MWe Biomass Power Plant Project in UK
May 28 2013 - 12:55PM
On May 15, 2013 Pacific Green Technologies Inc. (OTCQB:PGTK)
entered into and closed an agreement to acquire Pacific Green
Energy Parks Limited, the sole shareholder of Energy Park Sutton
Bridge Limited ("EPSB"), a company incorporated in the UK.
EPSB has obtained planning permission to develop a 49 MWe
biomass power plant on land located at Sutton Bridge, Lincolnshire,
UK (the "Plant") and holds the option to purchase the property on
which the Plant will be built.
The entire Plant is currently anticipated to cost GBP165m
(US$250m) and intends to use the ENVI-PureTM Emission Control
System for removal of any hazardous gases and pollutants generated
by the Plant. PGTK owns the marketing rights to the ENVI-PureTM
Emission Control System.
EPSB Managing Director, Chris Williams said; "We are very
pleased to be the first step within PGTK's strategy to build a
dedicated Biomass and Waste to Energy Power Plant Development
Group."
Pacific Green Technologies Inc.-"Where energy no longer needs to
cost the earth"
Forward Looking Statement
Certain statements in this document that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
statements may be identified by the use of words such as
"anticipate, "believe," "expect," "future," "may," "will," "would,"
"should," "plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of Pacific Green
Technologies Inc. to be materially different from those expressed
or implied by such forward-looking statements. The Company's
future operating results are dependent upon many factors, including
but not limited to: (i) the Company's ability to obtain sufficient
capital or a strategic business arrangement to fund its current
operational or expansion plans; (ii) the Company's ability to build
and maintain the management and human resources and infrastructure
necessary to support the anticipated growth of its business; (iii)
competitive factors and developments beyond the Company's
control; and (iv) other risk factors discussed in the
Company's periodic filings with the Securities and Exchange
Commission, which are available for review at www.sec.gov under
"Search for Company Filings".
CONTACT: Jordan Starkman
408-538-3373
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