Business
Scorpio Tankers Inc. exercises an option to install Pacific Green’s ENVI-Marine™ system on an additional 14 vessels
Scorpio Tankers Inc. exercises an option to install Pacific Green’s ENVI-Marine™ system on an additional 14 vessels.
About this update from Pacific Green Technologies Inc.
[{"type":"text","content":"\nSAN JOSE, Calif., July 04, 2019 (GLOBE NEWSWIRE) -- Pacific Green Technologies Inc. (the “Company”, OTCQB: PGTK), developer of the ENVI-Marine™ emission control system, today announces that, effective 26 June 2019 and pursuant to a framework agreement dated 30 November 2018 (as amended 15 May 2019, together the “Framework Agreement”) between the Company’s wholly owned subsidiary, Pacific Green Marine Technologies Inc., and Scorpio Tankers Inc. (“STNG”), that STNG has exercised options to install the ENVI-Marine™ system on an additional fourteen (14) vessels that STNG owns or manages. \n The pricing of the ENVI-Marine™ system for the vessels is currently being calculated in accordance with gas flow volumes under the terms of the Framework Agreement.  Sale and purchase agreements are being prepared and the Company will make a further announcement when these have been executed together with contract pricing details. About Pacific Green Technologies, Inc. In support of the world’s need for cleaner and more sustainable energy, Pacific Green Technologies has developed a portfolio of patented, emission control technologies that remove pollutants from marine engine, power plant and waste incinerator exhaust streams to meet increasingly stringent environmental standards. Pacific Green solutions utilize its patented “Turbo Head Technology™” which enables a more thorough mixing of exhaust gases and a chosen reagent solution that delivers more effective contaminant removal in a system that is both smaller and more efficient to build and operate.   Pacific Green formed a strategic joint venture with PowerChina SPEM, a unit of China's largest engineering, procurement, and construction firm, to support the manufacture, design, and installation of its solutions on a global scale, while also serving as an in-country sales agent for commercial opportunities in mainland China.    For more information: www.pacificgreentechnologies.com Notice Regarding Forward-Looking Statements: This 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...