Business
Alter NRG Corp. executes a $2 million exclusive license agreement for the Thailand market
TSX - NRG OTCQX - ANRGF CALGARY , Dec. 6, 2013 /CNW/ - Alter NRG Corp. ("Alter ...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"\n\n\nTSX - NRG\nOTCQX - ANRGF\n\n\nCALGARY, Dec. 6, 2013 /CNW/ - Alter NRG Corp. (\"Alter NRG\" or the\n \"Company\") is pleased to announce that it has signed an agreement to\n sell Waste2Tricity International (Thailand) Limited (\"Waste2Tricity\")\n an exclusive license for the Thailand market for an initial term of 5\n years for a price of $2 million.  Waste2Tricity has paid $1 million,\n with the remaining $1 million payable in December 2014.  Waste2Tricity\n is a UK based developer that is actively developing projects in the UK\n and Thailand using the Westinghouse Plasma Gasification Technology\n owned by Alter NRG.\n\n\nUnder the terms of the license, Waste2Tricity receives the exclusive use\n of the Westinghouse Plasma Gasification Technology in the country of\n Thailand.  In addition to the initial exclusive license fee and\n purchase of the Westinghouse Plasma Equipment, Waste2tricity will pay\n $3,500 per ton for site licenses and a royalty of $5 per ton of\n feedstock processed.  The initial term is for 5 years during which they\n must order equipment for two facilities of 250 tons per day or greater\n in order to extend the license for an additional 5 years.  Further\n extensions to the term are available for the Thailand market if other\n escalating project milestones are met.\n\n\nWalter Howard, Chief Executive Officer of Alter NRG comments \"I am\n pleased to be working with a qualified developer such as Waste2tricity\n and see that their years of effort have paid off in successful\n financing and achievement of commercial milestones in their key\n markets.  I believe that this license is the first of several such\n opportunities in the Southeast Asian market which is attributable to\n population growth that creates significant waste challenges as well as\n increasing electricity needs.  We look forward to working with\n Waste2Tricity in the development of numerous projects in the UK and\n Thailand.\"\n\n\nPiangkwan Thummukgool, Director and Lead Co-ordinator for the Thai\n project comments, \"The model that Waste2Tricity has created with the\n purchase of this exclusive licence will now enable us to engage with\n potential customers, municipalities and other stakeholders to\n demonstrate how an efficient conversion system can in fact reward all\n of the existing stakeholders i...