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Sonic and Nalco Mobotec enter into joint venture to process waste fly ash for the cement industry
TSX Venture Exchange Symbol: SNV VANCOUVER, Feb. 27 /CNW/ - SONIC Technology Solutions Inc. ("SON...
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[{"type":"text","content":"\n\n\n\nTSX Venture Exchange Symbol: SNV\n\n\nVANCOUVER, Feb. 27 /CNW/ - SONIC Technology Solutions Inc. ("SONIC" or\n"the Company": TSX-V:SNV) today announced that it has entered into a Joint\nVenture ("JV") with Nalco Mobotec, Inc., a Delaware corporation ("Nalco\nMobotec"), to expand the use of waste fly ash from coal-fired power stations\nas a cement substitute. Nalco Mobotec is a subsidiary of Nalco Holding Company\n(NYSE: NLC) the global leader in water, energy, air and process technologies\nand services based in Naperville, IL, USA. Nalco Mobotec specializes in the\ndesign and supply of advanced emission technologies for the power industry and\nsupplies major utility companies globally. The JV is a limited liability\ncompany organized under the laws of the State of Delaware, USA, which will\ndevelop the SonoAsh process to condition waste fly ash as a cement substitute\nor additive.\n\n\nUnder the agreement between Nalco Mobotec and Sonic, the JV will\nundertake development of Sonic's process ("SonoAsh"), which physically\npreconditions waste fly ash and reduces residual carbon. Successful\ndevelopment will lead to a fully commercialized process allowing the waste fly\nash to be used as a cement substitute or concrete additive. The agreement\nestablishes an earn-in arrangement by which Nalco Mobotec is entitled to\ndirect and fund the development process in consideration for an up to 50%\ninterest in the JV. The first phase of commercialization following successful\ndevelopment will lead to a production plant followed by strategic expansion\nthrough localized independent processing facilities.\n\n\nSonoAsh utilizes a proprietary application that Sonic has developed over\nthe last 18 months to convert waste fly ash from coal fired power plants into\ncement substitutes and additives for the global concrete industry. Under the\nterms of the JV agreement, Nalco Mobotec will be responsible for the strategic\nmanagement of the JV and will invest to develop SonoAsh. Nalco Mobotec and\nSonic hope to develop an integrated procurement and supply chain business for\nfly ash in the cement industry.\n\n\nCement is one of the largest commodity industries in the world and is one\nof the most energy intensive. Fly ash is currently used in the cement industry\nas a substitute for cement and...