Solucorp Signs Contract for Patented Mercury Emissions Control Technology To be Used on Working Coal Fired Energy Plant
March 24 2006 - 7:00AM
Business Wire
Solucorp Industries (OTC:SLUP) today announced it has signed a
contract with a major U.S. based, publicly traded, global power
generation company to integrate Solucorp's Integrated Fixation
System (IFS) mercury emission control technology for the first
time, into a working coal fired power plant. Integration efforts
are underway and expected to be completed by the fourth quarter in
2006. Solucorp's technology, designed to reduce coal-fired mercury
emissions below federal mandated minimums, will also remediate the
coal ash. This first-of-its-kind solution can save the coal burning
industry hundreds of millions if not billions of dollars, in
failing emission control costs. Congress, the Environmental
Protection Agency (EPA), the Department of Energy (DOE), as well as
power plants, have often expressed a belief that there is currently
no solution to the coal burning / mercury dilemma. Solucorp
contends that its IFS technology is in fact a viable, cost
effective solution. The goal of this specific contract is to create
the first of many coal burning power plants that have fewer
environmental consequences than are found with existing plants and
alternative power facilities, such as oil and nuclear generated
plants. This would eliminate any further need for expansion of oil
burning power facilities to replace coal facilities and meet energy
needs, an action being considered by certain states as reported by
the Boston Globe 10/22/05. Richard Runco, President of Solucorp,
stated "The institution of new stringent discharge regulations as
amendments to the Clean Air Act of 1970, have forced coal fired
energy facilities, which are facing ever increasing energy demands,
to search for cost effective and permanent solutions in order to
operate in compliance with federal mandates, and to fend off
possible U.S. Environmental Protection Agency (EPA) and
Congressional power plant closure mandates." In fact as recently as
March 17, 2006, the U.S. Court of Appeals District of Columbia
overturned a clean air amendment that would have let many power
plants, refineries and factories avoid installing costly new
pollution controls to help offset increased emissions caused by
repairs and replacements of equipment according to an article in
the March 18, 2006 issue of the New York Times. The Clean Air Act
calls for new plants to be built and refurbishing of old plants to
include up to date pollution control technologies. The overturned
amendment was an attempt to relax these requirements. The recently
upheld "new source provision" was a way to ensure that pollution
controls must be modernized along with the plants themselves. IFS
technology is the solution and unlike many alternatives, does not
collect the mercury but rather remediates it eliminating any future
liability for utilities. Runco continued, "Our government finally
recognizes that there is an urgent need to limit dependence on
foreign oil by finding new technologies capable of eliminating
hazardous emissions. This, along with rising fuel prices, the
homeland security risks associated with nuclear plants and the
abundant coal reserves throughout the world, highlights the need
for Solucorp's Coal Power Mercury Emissions Control Technology."
Environmental Energy Services (EES) previously described in a
Solucorp's press release, (dated May 17, 2005) Solucorp Industries
Ltd's (SLUP), Integrated Fixation System (IFS) and its partner the
Coal Burning Power Plant have initiated a full scale integration of
the mercury emissions control technology into a working power
generating energy plant. This effort combines the engineering
skills of EES, Solucorp's Molecular Bonding System (MBS(R))
Superfund Innovative Technology Evaluation (EPA/54D/R-99/500A 2/99)
the patented innovative delivery systems of IFS, and the know how
of the Power Plant personnel. The Coal burning power plant industry
in the U.S. consists of approximately 1,300 coal-fueled power
plants supplying 50% of electrical power plant energy requirements
for the U.S. There are also 17,000 factories, refineries and
chemical plants that emit millions of tons of pollutants into the
air (N.Y. Times article 3/18/06). Added Runco, "Coal is plentiful
but polluting, and an energy hungry world anxiously awaits the
cleaning of mercury filled emissions generated by this fossil fuel.
The negative impact of closing coal burning power plants would have
a catastrophic effect on our energy supply, our way of life and
would further increase our dependence on foreign oil". U.S. Power
Plants annual spending will exceed $40 billion by 2010 in an effort
to eliminate environment hazards which include mercury emissions.
Global consumption of coal is currently in excess of five billion
tons per year with China burning 1.531 billion tons, Europe 1.305
billion tons, U.S. 1.094 billion tons and the remaining 1.410
billion tons by other countries. (Energy Information
Administration, DOE. Data). "The new patented technology developed
by Solucorp Industries is designed to make coal the primary source
of power plant energy while reducing world dependency on foreign
oil and other power sources," concluded Runco. Solucorp's
innovative technology, patented in 1999, has undergone scores of
successful independent testing to review its effectiveness and cost
savings as well as the impact of installing Solucorp's technology
into a working coal burning power plant. Mark Pastore, Director of
Business Development for EES, Inc. stated; "EES is excited about
the opportunity to work closely with Solucorp in the application of
their MBS technology on a full scale coal-fired power plant. We
look forward to applying our project management and diagnostic
testing experience in designing and implementing and advanced
application system to support this program" Runco said " Our IFS
technology represents an opportunity for nations to use their own
existing coal supplies to meet their ever-expanding energy needs".
The U.S., Europe and China, for example, have hundreds of years of
coal supplies. Two hundred eighty one million dollars
($281,000,000) of government funds has been pledged for developing
cleaner coal burning power plants. Solucorp's mercury emissions
controls technology has already been developed and tested under the
watchful eye of the DOE and a consortium of power plants by the
Environmental Energy Resource Center; North Dakota (EERC) (JVTASK73
10/05). As the Coal Burning Power Industry embraces our Mercury
Emissions Control Technology at cost saving prices, the belief that
no single technology exists that can solve the mercury coal power
dilemma is soon to be a myth. About Solucorp Industries Ltd.
Solucorp Industries, Ltd., is a developer and provider of cost
effective and permanent technologies for the remediation and
prevention of hazardous heavy metal contamination. Solucorp is the
owner of several patents and numerous additional patents that are
pending. Solucorp operates three wholly owned subsidiaries:
Solucorp Industries, Integrated Fixation System Company Inc., and
WITS, Inc. The foregoing discussion contains forward-looking
statements, which are based on current expectations. Actual
results, including the timing and amount of revenues recognized,
contracts awarded and performed and net income may differ due to
such factors as: delays in payment on contracts due to dealings
with governmental and foreign entities; fluctuations in operating
costs associated with changes in project specifications; economic
and other conditions affecting the ability of prospective clients
to finance projects; and other risks generally affecting the
financing of projects. Investors are cautioned to perform a proper
due diligence and consult licensed professionals prior to making an
investment decision.
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