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Free Energy International Inc. signs Letter of Intent with EnEco Industries Inc.
VANCOUVER, March 10 /CNW/ - Free Energy International Inc. (TSXV: FFX) (formerly Fairfax Capital ...
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[{"type":"text","content":"\n\n\n\nVANCOUVER, March 10 /CNW/ - Free Energy International Inc. (TSXV: FFX)\n(formerly Fairfax Capital Inc.) is pleased to announce that a Letter of Intent\nhas been executed with EnEco Industries Ltd. to enter into a formal agreement\nutilizing EnEco's technology to develop a municipal solid waste (MSW)\nrecycling and biomass conversion facility, located near Prescott Arizona, that\nwill utilize Free Energy's patented thermal superconductor technology to\ngenerate electricity for sale to the Arizona Power Grid. The proposed\ninstallation will be carried out by the Company's wholly owned subsidiary,\nFree Energy Solutions Inc., subject to Free Energy International Inc.\nacquiring acceptable funding for the $13,000,000 project and final agreements.\nFree Energy is excited to work with EnEco and both parties are looking forward\nto development of this project and the potential for similar projects.\n\n\nThe project is a big win for the environment as it uses EnEco's state of\nthe art gasification technology to convert municipal solid waste and biomass\nto clean energy with little or no emissions and allows for the recovery of all\nmetal and glass in its original form in order to preserve the ecological\nfootprint formed when each can or bottle was made. This process does produce\nlarge amounts of heat. Free Energy, utilizing its thermal superconductor\ntechnology moves this heat to an electrical generating plant. Initial\nengineering indicates that the facility can dispose of in excess of 100 tons\nof waste per day while creating 3 megawatts of electricity. Additionally,\nFree Energy has developed technology that can use the excess heat to capture\nwater from the air. This water is potable and can be used for irrigation or,\nwith minor secondary filtration, as clean drinking water.\n\n\nAbout Free Energy International Inc. (Formerly Fairfax Capital Inc.)\n\n\nFree Energy International Inc. is a British Columbia corporation with its\nhead office in Vancouver, British Columbia. The Company is listed on the\nTSX Venture Exchange as a Tier 2 company. The Company has a total of\n12,636,453 common shares issued and outstanding, of which 7,056,000 shares are\nsubject to escrow arrangements.\n\n\nAdditional information on Free Energy and Fairfax may be found in the\nInformation Circular for the 2007 annual and special general meeting o...