VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2016) - Targeted Microwave Solutions Inc. (TSX VENTURE:TMS)(OTCQX:TGTMF)(FRANKFURT:A2ACNT) ("TMS", the "Company") announced today that it has accepted an invitation from the U.S. Commercial Service of the U.S. Embassy in Beijing, part of the trade promotion network of the U.S. Department of Commerce, to meet with Shenhua Group, a leading Chinese energy company, on December 15, 2016.
Headquartered in Beijing, Shenhua Group has business presence in 29 provinces and independent regions throughout China as well as Russia, Australia and Indonesia. The Shenhua Group also manages a central government initiative, The National Institute of Clean-and-Low-Carbon Energy. Their priorities include advancing research on the application of low-carbon energy, development and integration of low-carbon energy technologies, emission reduction of coal-fired plants, and development strategy for renewable energy. Shenhua is also the world's largest coal supplier.
"This group meeting with a large Chinese buyer is one of the many efforts of the U.S. Department of Commerce in assisting U.S. exports and creating job opportunities at home," said Mr. Bradley Harker, the energy and environment team leader at the Commercial Service in Beijing. "I hope that U.S. firms will use this opportunity to present their advanced technologies, high quality products and solutions to their Chinese customers. We welcome more U.S. firms to join this and many other export-oriented programs that the U.S. Department of Commerce offers to U.S. exporters."
Mining and energy production are critical sectors of China's economy and present multiple opportunities for TMS. TMS's technology is positioned to improve the environmental performance and efficiency of coal fired energy production, and increase product value and lower coal handling and transportation costs in the mining sector.
"It is apparent that a shift in China's environmental regulations are creating new opportunities in the clean energy space. Many power producing regions in China are facing water scarcity issues and a major market is developing not only in improving the energy efficiency of high moisture content feedstocks, but capturing and recycling this liberated water on large scale. The TMS technology offers a unique advantage in this area," said Dr. James Young, Chief Executive Officer and Chairman of the Board.
On behalf of the Board of Directors,
Dr. James Young, Chief Executive Officer and Chairman
About Targeted Microwave Solutions Inc.
Targeted Microwave Solutions Inc. is a clean technology company that designs and produces large-scale industrial microwave reactors to dry and process materials, including coal, clay and biomass. The technology is more efficient, requires significantly lower capital expenditures and is more environmentally friendly than traditional fossil fuel drying technologies. TMS' reactors are designed to be fully automated, require less maintenance, occupy a much smaller footprint and dry more product in less time than conventional counterparts with no emissions.
The Company's R&D and commercial demonstration plant in King William, Virginia is strategically located near several major industrial clay and biofuel manufacturers. The marketing and testing facility in Shanghai, China collects and analyzes material samples from nearby coal power plants and coal mines. The Company is a reporting issuer in Canada and is listed on the following stock exchanges: (TSX VENTURE:TMS)(FRANKFURT:A2ACNT)(OTCQX:TGTMF)
This news release contains certain statements which are, or may be deemed to be "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that we expect or anticipate may occur in the future. Forward-looking statements consist of statements that are not purely historical and, in this news release, include, without limitation, statements regarding TMS's opportunities in China and the performance of TMS's technology. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends", "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual results, performance or achievements or the actual results or performance of the industries and markets in which we operate and intend to operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements involve significant uncertainties and risks, should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in our forward-looking statements, including economic conditions in China, execution of the TMS technology as being designed, market acceptance of the TMS technology, and changes to legislation in China and such other matters described in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon our forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent events or circumstances, except as required by law.
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