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DGAP-News: Pacific Green Signs Agreement With Union Maritime Limited For US$29.4m To Install Its Envi-Marine(TM) System On Sixteen Vessels
DGAP-News: Pacific Green Signs Agreement With Union Maritime Limited For US$29.4m To Install Its Envi-Marine(TM) System On Sixteen Vessels.
About this update from Pacific Green Technologies Inc.
[{"type":"text","content":"\n\n\nDGAP-News: Pacific Green Technologies Inc. / Key word(s): Miscellaneous\n\nPacific Green Signs Agreement With Union Maritime Limited For US$29.4m To Install Its Envi-Marine(TM) System On Sixteen Vessels \n27.09.2018 / 14:19 \n\n\nThe issuer is solely responsible for the content of this announcement.\n\n SAN JOSE, CA / ACCESSWIRE / September 27, 2018 / Pacific Green Technologies Inc. ('PGTK') (OTCQB: PGTK) through its wholly owned subsidiary, Pacific Green Marine Technologies Inc. ('PGMT'), has executed a sale and purchase agreement dated September 10, 2018 with Union Maritime Limited ('Union') pursuant to which PGTM will manufacture and install its ENVI-MarineTM System on up to sixteen vessels between now and March 2020 for a total value of approximately US$29.4m.\n\n \nThe objective of the Union Agreement is to provide Union as much flexibility as possible for them to manage and trade their fleet while at the same time maximising chartering opportunities.\n\n \nThe Union Agreement provides Union with date and vessel flexibility on a vessel by vessel basis provided sufficient notice has been given and, for cancellations, cancellation fee provisions in favour of PGMT.\n\nAbout Pacific Green Technologies, Inc.\nPacific Green Technologies Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The company's strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet increasingly stringent environmental standards. \nFor more information, visit PGT's website:\nwww.pacificgreentechnologies.com\n\n \nContact:\nNeil Carmichael, President and Director Pacific Green Technologies T: +1 (408) 538-3373\n\nAbout Union Maritime Limited\nUnion Maritime is a UK based tanker owner and operator, focused on the global clean product and light chemical markets.\nFor more information, visit Union's website:\nhttps://www.unionmaritime.com\n\nNotice Regarding Forward-Looking Statements:\nThis news release contains 'forward-looking statements,' as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expecta...