Solucorp Installs Mercury Emission Control Technology Test System in Working Coal Fired Energy Plant; Project Moves from Design
September 21 2006 - 8:02AM
Business Wire
Solucorp Industries, Ltd. (OTC:SLUP) announced that the
installation process is underway for the mercury emission control
test system it designed and configured for the working coal-fired
power plant of a major U.S. utility company. As previously
announced, Solucorp has an agreement with this publicly traded,
global power generation company to integrate, for the first time,
Solucorp's Integrated Fixation System (IFS) Mercury Emission
Control technology into one of its coal-fired power plants.
Solucorp's IFS technology is designed to reduce coal-fired mercury
emissions below federal mandated regulations. IFS also remediates
the fly-ash residue generated by these furnaces. The completed test
system design is the result of the efforts of a team comprised of
the power plant engineers, energy consultants and Solucorp
scientists. The installation is expected to be completed within six
weeks. The results of the three-week test will be compiled and
reported before the end of 2006. Under the terms of the Agreement,
the coal-fired utility was not identified. Richard A. Runco,
President of Solucorp Industries, Ltd., said, "This
first-of-its-kind solution can save the coal burning industry
hundreds of millions 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 company's
confidence stems from a Computational Fluid Dynamics (CFD) modeling
report indicating that the IFS technology is capable of dispersing
within the flue gas stream, allowing the technology to make contact
with both ionic and elemental mercury. We believe that successful
test results will conclusively establish our technology as a
viable, cost-effective solution." Noel E. Spindler, President of
Integrated Fixation System, added, "Our goal is to showcase the
first coal burning power plant to emit fewer environmental
pollutants than found with existing plants and technologies. Our
solution will greatly reduce the industry's need to expand oil
burning power facilities to replace coal facilities, an action
being considered by certain states, as reported by the Boston
Globe, October 22, 2005." The domestic coal burning power plant
industry consists of approximately 1,300 coal-fueled power plants
supplying 50% of the electrical power plant energy requirements.
According to the NY Times, March 1, 2006, there are also 17,000
factories, refineries and chemical plants that emit millions of
tons of pollutants into the air. Coal is plentiful but polluting,
and an energy hungry world anxiously awaits a solution to clean the
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 and 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 environmental hazards, which include mercury
emissions. (Energy Information Administration, DOE data). Solucorp
has begun negotiations with several regionalized toll-processing
facilities to manufacture its IFS Mercury Emission Control product.
The company has already begun to market this technology to its
current client base, distributors, representatives and joint
venture partners in Italy and China. About Solucorp Industries,
Ltd. Solucorp Industries, Ltd. (www.solucorpltd.com), is a
developer and provider of patented, cost-effective and permanent
technologies for the remediation and prevention of hazardous heavy
metal contamination. The Company's patented Molecular Bonding
System (MBS(R)) technology is currently successfully remediating
hazardous heavy metals from soils on site, and has generated in
excess of $3.5 million in revenue for the Ravenna, Italy site.
Solucorp Industries, Ltd., 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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