CARLSBAD, Calif., Sept. 23, 2004 (PRIMEZONE) -- Bruce Beattie, President of Sub Surface Waste Management of Delaware, Inc. (OTCBB:SSWM), announced today that it will joint venture with C. Trade, Inc. and Omnitek Engineering Corp., a leader in engine retrofit systems, to provide technology, engineering and project management for natural gas distribution services and for converting diesel engines to clean-burning natural gas in Bangladesh. The conversion of older technology, high polluting engines to low-polluting engines in a cost effective manner, as well as creating a natural gas distribution infrastructure using local labor, will help the people of Bangladesh utilize an abundant natural resource, breathe cleaner air and become less dependent upon imported diesel fuel.
Diesel engines are the backbone of the industry in most parts of the world. Valued for their power, performance, fuel economy, and durability, it is no wonder diesel powered trucks, buses, pumps and generators have become the standard. Now, concerns over the hazards of diesel exhaust, increasingly stricter emissions regulations and rising fuel costs are forcing operators and fleet owners to seek new options for their traditional diesel engines.
Natural gas is increasingly becoming the fuel of choice to meet these new requirements. Readily available in most parts of the world, it is generally lower polluting than diesel and inexpensive indigenous sources of natural gas result in lower fuel costs when compared to diesel or gasoline. All these factors have lead to the dramatic rise in its use. The new joint venture of SSWM, C. Trade and Omnitek bring together ways to cost effectively retrofit/convert existing high polluting diesel engines with natural gas technology.
The joint venture will initially target the conversion of bus and truck engines and related refueling infrastructure using local labor and, once the business model is proven and perfected, the opportunity exists to provide an estimated 10,000 to 80,000 conversions which are required to meet the anticipated market demand. Typical conversions range from $1,000 to $5,000 per engine depending upon size and other factors.
The joint venture will form a new entity that will be headed by Mohamad (Ullah) Mamun who holds a Bachelors Degree from Dhaka University, Bangladesh and is currently the president of Alliance Trade, Inc., a U.S. based company specializing in trade and consulting between the U.S. and Bangladesh. Mr. Ullah works closely with the Bangladesh Embassy in the U.S. and the various U.S. based Bangladesh Agencies based in NY and Washington, DC. Presently, Mr. Ullah is also a director of Debtec, a Bangladeshi based NGO.
Bruce Beattie, President of SSWM stated, "We are pleased to continue our business relationship with C.Trade and look forward to pooling our engineering and technical talent with Omnitek to provide cleaner air for the citizens of Bangladesh."
About SSWM
Sub-Surface Waste Management Inc. provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its patent and patent-pending technology by forming strategic alliances and joint ventures with well-established engineering firms.
Investors and media contact Bruce Beattie at 760/918-1860, ext. 105 or bbeattie@bugsatwork.com; or learn about the company by visiting its Web site at http://www.bugsatwork.com. A research report on SSWM is available at http://www.stocksontheweb.com/sswm.htm and another at http://wfnn.info .
About C. Trade, Inc.
The C.Trade Group of Companies has extensive holdings in the United States as well as in China, Latin America, Greece, and Bangladesh. C. Trade's portfolio of companies specializes in biotechnology, water remediation, and automotive consultation services. For more information about C. TradeUsa, call its President, Nick Kontonicolas at 212/709-8083 or contact him at ctradeusa@juno.com
About Omnitek Engineering Corp.
Omnitek Engineering, Corp., is a leader in the development of advanced engine technologies and emissions control systems for internal combustion engines burning gasoline, diesel, compressed natural gas (CNG), liquefied petroleum gas (LPG) or hydrogen. This includes passenger cars, commercial trucks and buses, off-road construction equipment, stationary industrial engines such as pumps, compressors and generators, locomotives and ships. The Company also offers solutions to reduce emissions of flairs, boilers and other combustion devices that need a spark energy source to operate. For more information call Werner Funk, CEO at 760-591-0089 or visit the website at http://www.omnitekcorp.com.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such difference are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.