Vancouver, B.C., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Emergent Waste Solutions Inc. (“EWS” or “the Company”), is pleased to report that it’s technology collaborator and strategic investor, Magnum Group International (“Magnum”), has announced that they have arranged the sale of two ATS2000 plants in Hong Kong. The project [would fall] under the Belt & Road Initiative and [would be] the first phase of an overall project that forecasts an accelerated commissioning of new ATS plants going forward.
The ATS2000 units will be employed in the processing of Municipal Solid Waste (MSW) in Hong Kong. MSW is traditionally buried in huge landfills. This method of disposal is a blight on the landscape, a source of pollution and is a major contributor to climate change emissions through its decomposition and resultant off-gassing.
With the ATS plants Magnum Group intends to manufacture biochar, activated carbon, and, potentially, bio-coal and methanol.
States, the Chairman of Magnum, “In recognition of the expertise and experience EWS has with thermolysis, and specifically with the ATS technology, for custom made ATS systems the Magnum Group will appoint EWS to design, engineer, and build the two ATS2000 units here in Canada for export.”
Also, for project management work Magnum will appoint EWS as the project manager, which includes work-flow engineering, site specification and preparation, infrastructure development, ancillary equipment sourcing and integration, creation of training and operations manuals, and employee training.
Lastly, EWS will be appointed by Magnum to work directly with Magnum’s customer to help ensure the best prices for the biochar, activated carbon, and, potentially, bio-coal and methanol that will be produced by these plants.
EWS CEO, Kevin Hull, said, “This is a significant milestone for EWS and its shareholders. We believe this will help expedite the adoption of the ATS as a solution to waste challenges around the world.”
About Emergent Waste Solutions Inc.
EWS is a BC company that has deployed the world leading Advanced Thermolysis System (“ATS”) technology and is looking to develop additional locations for this technology. ATS is an innovative, secure, efficient, and proven method for the converting of waste materials such as MSW, tires, plastics, biomass, and livestock waste into marketable products, such as activated carbon, carbon black, biochar, bio-coal, biogas, and bio-oil.
ON BEHALF OF THE BOARD
Kevin Hull
CEO
You are invited to click here to view the company website for more information about our technology and products: http://www.ewscanada.com
For further information contact:
khull@ewscanada.com
(604)741-1956
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements, including: market and political risks; risks associated with negotiating definitive agreements for the purchase and sale of the two ATS2000 plants; risk associated with the negotiation of a service agreement among Magnum, EWS and the prospective customer; and risks associated with a general failure to adopt the ATS technology. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include, among others, statements regarding the completion of the sale of the two ATS2000 plants in Hong Kong (including any greater project(s) related thereto), the construction, management, and operation of the ATS2000 plants which may be sold in Hong Kong, including EWS’ role as a manager, operator and/or other service provider thereof; the adoption and/or accelerated use of the ATS technology; and EWS’ and Buscando’s the ability to conclude the the amalgamation transaction.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. EWS assumes no obligation to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable Canadian securities laws.
