TransAct Energy Completes First Steps of Waste Technology
Development Agreement
SAN ANTONIO, Texas, Feb.
7, 2013 /PRNewswire/ -- TransAct Energy Corp. (OTCQB:
TEGY) released today terms of its Joint Development Agreement
("JDA")
(http://www.marketwire.com/press-release/transact-energy-secures-zero-emission-technology-pinksheets-tegy-1681107.htm)
announced previously with Mr. Bruce
Hutchon, Utopial Limited and Halfuel Limited. The JDA
specifies the formation of a joint corporation where Hutchon's
transfers his proprietary emissions free energy-from-waste
technology, the 20 tonne operating plant and all associated
research. TransAct develops/transfers a 5 year Business plan,
executes the same and causes $100 Million
USD to be available to the newly formed company to build a
plant in Scotland of approximately
the same value.
The business plan has been completed and the first plant
proposed for Scotland is a 500
tonne per day facility that when in full operation could generate
an EBITDA of $160 Million per annum.
This financial modeling is predicated on processing refuse derived
fuel (RDF). The feedstock for the proposed facility has been
identified and joint intentions made with the feedstock suppliers.
The buyers for the products, electricity, fuel, LPG and carbon
black have been identified and mutual intentions made to have the
products purchased at market rates.
"Working through the first stages of our JDA with Mr. Hutchon's
has given us excellent insights to the technology and business he
has developed so far," says TransActs CEO Rod Bartlett. "We are extremely optimistic that
we can develop the TransAct Energy from Waste business into a
significant contributor for both our shareholders and the clean
energy sector."
About Hutchon and Companies
Mr Bruce Hutchon and his group of
private chemical technology companies based in the United Kingdom develop chemical/mechanical
solutions for process engineering. Historically focused around the
plastics industry they used their intimate knowledge of commercial
organic chemistry to solve process issues.
About TransAct Energy Corp.
TransAct Energy Corp. is a Nevada
organized company trading on the OTC Pinks as TEGY. Their business
is the development, production, management and conservation of
energy through sustainable projects. TransAct's focus is emissions
free energy produced from carbonaceous waste.
Visit TransAct's new website www.transactenergycorp.com, follow
them on twitter @transactenergyc and contact them for more
information about TransAct Energy
Media Inquiries:
ROD BARTLETT,
President CEO
info@transactenergycorp.com
210-888-0785
Safe Harbor This press release contains certain statements that may
include "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects," "anticipate,"
"optimistic," "intend," "will" or other similar expressions. The
Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website at http://www.sec.gov . All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under applicable securities
laws, the Company does not assume a duty to update these
forward-looking statements.
SOURCE Transact Energy Corp.