Zero Emission Energy Plants Ltd.

October 02, 2009 16:58 ET

ZEEP & IST Form Strategic Partnership to Develop Clean Energy Business in Latin America

HOUSTON, TEXAS--(Marketwire - Oct. 2, 2009) -

Editors Note: There is a photo included with this release.

ZEEP (Zero Emission Energy Plants Ltd.) and Colombia's IST (Integrador De Soluciones Tecnologicas Ltda.) today announced a strategic partnership for the purpose of developing gasification plants in Colombia utilizing the PWR (Pratt & Whitney Rocketdyne, Inc.) compact gasification technology. This partnership is the first step in ZEEP's Latin America Clean Energy Strategy with plans to expand (with IST) to other Latin American countries in the future.

Colombia is a resource rich country with a passion for becoming a world energy leader. With refining modernization and expansion projects underway and significant coal reserves, Colombia is well positioned to employ gasification strategies.

"We are thrilled to be partnering with IST to bring clean energy solutions to Colombia and Latin America," said ZEEP Chief Operating Officer, Douglas Kelly. "IST holds long-standing relationships with the Colombian government and many Latin American energy companies. These relationships, combined with Colombia's abundance of coal and petcoke, make IST an ideal fit for ZEEP's technology and business model."

ZEEP and IST will begin working together immediately to develop the gasification business in Colombia by identifying companies and projects that would be well suited for the PWR gasification technology.

"Our end-users will benefit from the combination of ZEEP and IST's technology and experience, providing them with the cleanest, most affordable energy," said Fabian Nino, IST General Manager. "To be instrumental in bringing this efficient and reliable gasification technology to Colombia and Latin America is an outstanding opportunity for IST."

About ZEEP

ZEEP is a privately held company, continued under the laws of Bermuda. ZEEP exists to create clean abundant energy from the most abundant natural energy resources of coal, petcoke, waste and biomass. It is ZEEP's vision to create large energy centers for the production of a variety of clean, inexpensive fuels around the world. For additional information, please refer to www.zeep.com.

About IST

IST is a privately held company with headquarters in Bogota, Colombia. IST provides engineering services and consulting to energy companies in Colombia as well as throughout Latin America. IST's engineering services include the areas of advanced process control, process simulation and optimization, automation and control systems, and technology and market analysis. For more information, please refer to www.ist-internacional.com.co or contact Fabian Nino at fnino@ist-internacional.com.co.

Forward Looking Statement

Except for statements of historical fact, this news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements include the intention of ZEEP and IST to develop gasification plants in Columbia using PWR's compact gasifier technology; the intention to expand ZEEP's (and IST's) business plan to other Latin America countries in the future; and whether PWR's compact gasifier technology will be instrumental in the development of world-wide "clean coal" opportunities. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, without limitation, delays in obtaining any necessary governmental or regulatory approvals or permits; and capital and other costs varying materially from estimated costs. ZEEP undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

To view the photo included with this release, please click the following link: http://www.marketwire.com/library/20091002-zeep800.jpg

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