LONDON--(BUSINESS WIRE)--Waste2Tricity Ltd the cutting edge structured solutions provider for the waste-to-energy sector, is pleased to announce that its subsidiary Waste2Tricity International (Thailand) Limited, has converted its option for exclusive access to the Alter NRG Corp Westinghouse Plasma Gasification Technology in Thailand into a full exclusive licence agreement. The licence is for all applications of the Westinghouse plasma technology in the Thailand market for an initial term of five years at a price of $2 million. Waste2Tricity has paid $1 million, with the remaining $1 million payable in December 2014.
Waste2Tricity will now embark on an aggressive deployment strategy to enable a multiple roll out in Thailand of 1,000 tonne per day systems. Smaller Westinghouse Plasma Corp systems may also be built. In conjunction with the existing exclusive licence for AFC Energy fuel cells, the Westinghouse Plasma Gasification license ensures that Waste2Tricity has both the key technologies required to dominate the Thai waste market in years to come.
Waste2Tricity, Alter NRG, Westinghouse and AFC Energy all-share Ervington Investments (UBO Roman Abramovich) as a major shareholder. With this final piece of the jigsaw in place it is now possible to see the vision of combining the technologies and skill sets of the three companies becoming a reality in Thailand. It has taken enormous visionary skills to see how the integration of these three companies can potentially lead to a market dominating position.
Waste2Tricity has assembled the necessary building blocks and commercial relationships to establish a flagship model in Thailand, which reflects the unique fundamentals of the region including lower gate fees, and can be replicated around the ASEAN market. In addition, the Waste2Tricity process is the most environmentally responsible method of disposing of waste, converting 100% of the waste into either energy or a useable aggregate, eliminating any methane emissions from rotting waste, eliminating ash which is produced using other thermal treatment methods like incineration, and when fuel cells are available, eliminating stack emissions and enabling the capture of carbon dioxide creating a carbon negative model.
Piangkwan Thummukgool, Director and Lead Co-ordinator for the Thai project comments, “The model that Waste2Tricity has created with the purchase of this exclusive licence will enable us to advance existing discussions with potential customers, municipalities and other stakeholders into binding commitments. We look forward to engaging with our existing commercial relationships that we have established both in Thailand and the UK to seek to develop a number of projects in rapid succession.”
Walter Howard, Chief Executive of Alter NRG comments, “I am pleased to be working with a qualified developer such as Waste2Tricity and see that their years of effort have paid off in successful financing and achieving of commercial milestones in their key markets. I believe that this license is the first of several such opportunities in SE Asia, a key market for Alter NRG.”