SOURCE: Waste2Energy Holdings, Inc.

Waste2Energy Holdings, Inc.

May 03, 2010 15:09 ET

Waste2Energy Announces a Master Supply Agreement

GREENVILLE, SC--(Marketwire - May 3, 2010) -  Waste2Energy Holdings, Inc. (W2e) (PINKSHEETS: WTEZ) announced that its United Kingdom based subsidiary, Waste2Energy Engineering Limited, has entered into a Master Supply Agreement (MSA) with Ascot Environmental Limited (Ascot). The MSA details the scope, pricing and terms under which Ascot will procure W2e's continuous batch oxidation (cBOS™) systems over the next 15 years.

Under the MSA, Ascot will purchase a minimum of two cBOS™ trains per year from W2e and utilize the framework to order equipment for the six Cyclamax (SITA) plants (as previously announced on September 9, 2009) as and when they are released, together with other waste-to-energy projects in the United Kingdom that Ascot and W2e are jointly developing. 

The Agreement will facilitate the rapid initiation of orders for cBOS™ equipment as soon as projects are released for construction -- thereby shortening lead times and enhancing economic value to plant owners by bringing plants on stream sooner.

Peter Bohan, CEO of Waste2Energy Holdings, Inc., stated: "This agreement will not only define and cement the partnership between Ascot and W2e, it will also provide a platform for the establishment of a market leading team when it comes to developing waste-to-energy processing plants in the United Kingdom."

Jim Hennessey, Managing Director, Ascot Environmental Limited stated: "This is a testament to the combined efforts of both parties in developing a viable market solution through the Dumfries project. The pilot plant will assist in our combined development and enhancement of the system for commercial use and the agreement used to facilitate the pipeline of projects. We look forward to working closely with our alliance partners."

About Waste2Energy Holdings, Inc:
Waste2Energy and its subsidiaries design, build and install waste-to-energy plants that are scalable, modular, environment friendly and robust enough to operate in remote environments. We compete in the growing worldwide market for waste-to-energy systems that simultaneously destroy waste and recover energy. We provide customized engineering solutions that will enable our current and future customers to convert biomass and other solid waste streams traditionally destined for landfill into clean renewable energy. 

About Ascot Environmental Limited:
Headquartered in Manchester, England, Ascot Environmental is an engineering company specializing in construction-led solutions to a wide variety of environmental issues and problems. Ascot, through its Scotgen subsidiary, currently owns and operates the 120 MTPD energy-from-waste plant in Dumfries, Scotland, which incorporates two W2e cBOS™ trains. The plant, which was officially opened in the fourth quarter of 2009, processes unsorted municipal and industrial wastes that were previously deposited in nearby landfills. 

Safe Harbor Statement
Under the Private Securities Litigation Act of 1995 - This press release discusses forward-looking statements with risks and uncertainties. Our results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. We believe statements to be reasonable, but neither we nor any other person can represent they will be achieved. We are not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings.

For more information on Waste2Energy, please visit www.waste2energy.com for more information on Ascot Environmental, please visit www.ascotenvironmental.co.uk

Contact Information

  • Contact Information
    Peter Bohan
    CEO
    Waste2Energy Holdings, Inc.
    1 Chick Springs Road
    Greenville, SC 29609