TGI Signs Memorandum With Ekoplaz to Acquire Waste to Energy Technology for $3MM
February 26 2010 - 11:40AM
Marketwired
TGI Solar (PINKSHEETS: TSPG), provider of solar and other clean
technology products and solutions, announced today that they have
signed a Deal Memorandum with Ekoplaz, a waste management Ukrainian
company with technology based on using the effect of high-frequency
disruption in electromagnetic microwave field.
Under the Agreement, TGI will have the exclusive right to use
Ekoplaz technology in North America, South America, and European
Union. TGI plans to cover the $3Million payment by issuing $3 mm of
short term convertible notes. TGI plans to build its first facility
in the Ukraine and plans to identify location and apply for
necessary permits before the summer.
About Ekoplaz: Ekoplaz, a Ukraine-based company, developed the
technology based on using the effect of high-frequency disruption
in electromagnetic microwave field. High field intensity provides
air ionization in location of disruption with release of high
temperature. Special configuration of air ionization chamber on
condition that the supply of the middle and large microwave
capacity provides the initiation of stable plasma flame at output
of plasmatron nozzle. Process significant advantages include:
pesticides utilization or domestic industrial waste burning occurs
in continuous operation. A plant can be implemented both in mobile
and stationary performances.
About TGI SOLAR POWER GROUP INC. TGI Solar (TSPG)
(www.tgisolar.com) is a provider of solar and other alternative
energy products and solutions. The firm provides facility and
process design and integration know-how with its equipment. The
Company offers its products and services to clients on a worldwide
basis and currently maintains JVs in Hong Kong and subsidiary in
Italy with solar installation, integration and energy consulting
firms.
Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1965: Those statements contained herein which are not
historical are forward-looking statements, and as such, are subject
to risks and uncertainties that could cause actual operating
results to materially differ from those contained in the
forward-looking statements. Such statements include, but are not
limited to, certain delays that are beyond the company's control,
with respect to market acceptance of new technologies, or product
delays in the testing and evaluation of products, and other risks,
as detailed in the company's periodic filings with the Securities
and Exchange Commission.
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