ORLANDO, FL--(Marketwire - June 24, 2010) - Ewire -- GDT TEK (PINKSHEETS: GDTK) today announced that it has wholly acquired 100% of RTR Global Investments, LLC and with the acquisition RTR's first Power Purchase Agreement (PPA) from Pacific Gas and Electric Company (PG&E). The twenty year term of the PPA will begin upon completion of construction of GDT TEK's waste heat to electricity system facility and the facility starts generating and delivering power to the grid. The PPA details that PG&E will purchase all electricity produced by GDT TEK's subsidiary LLC up to 1.5 Megawatt (MW) at GDT TEK's installation at the Milpitas California Landfill at 1600 Dixon Landing. The price of the electricity is tiered over the twenty year term and purchase prices ranges between $.09/KW to $.12/KW.
GDT TEK Chief Executive Officer Al Reda stated, "GDT TEK is pleased that with the RTR acquisition we have also acquired our first Power Purchase Agreement from Pacific Gas and Electric Company. We are eager to upgrade the first unit, which has been operating for five years, and to break ground and install additional GDT TEK waste heat to electricity systems at the facility. This is a great step for GDT TEK to help California achieve its clean energy mandates."
About GDT TEK, INC.
GDT TEK, INC is an Orlando, Florida-based publicly traded company (PINKSHEETS: GDTK) focused on renewable and sustainable energy technologies. The company has licensed patented waste heat to electric power generation technology and is driving its adoption by power plants, landfills and other waste-heat generating industries. GDT TEK's waste heat to electricity systems are powerful enough to serve as a primary energy source, highly efficient, when installed under a Power Purchase Agreement and are scalable with system sizes from 150 kW to 5000 kW currently available. The GDT TEK system has been proven through a long-term five year installation at a San Jose, California-area landfill. Waste heat captured from landfill-generated methane gas generator engine exhaust and radiator jacket coolant systems is used by the GDT TEK system to generate electricity which is then sold to the grid. Professor Robert W. Dibble of the University of California at Berkeley assessed the GDT TEK system and stated that "Of the many technologies that I have evaluated over the course of the past several decades, GDT TEK's heat to power conversion solution has proven to be the most reliable, versatile, efficient, lowest emissions, and overall cost-effective solution available in today's changing world market."
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