Environmental Waste International Inc.

Environmental Waste International Inc.

December 09, 2010 09:48 ET

EWS Reacquires TR Rights to Canada and the United States

AJAX, ONTARIO--(Marketwire - Dec. 9, 2010) - Environmental Waste International Inc. (EWS) (TSX VENTURE:EWS) announced that, subject to TSXV approval, it has reached an agreement to acquire 100% of Ellsin Environmental Ltd (Ellsin). The acquisition gives EWS the ownership of the TR900 project presently underway in Sault Ste Marie as well as the sales and marketing rights for the EWS Tire Reduction systems in Canada and the United States. With testing of the TR900 system about to begin in January, EWS decided that this was a propitious time to reacquire these important rights. On closing, EWS will issue a total of 2,263,500 of its shares in exchange for Ellsin. The transaction is scheduled to close before year end.

Ellsin will be operated as a wholly owned subsidiary of EWS. Its top priority will be completion of the TR900 prototype system. The TR900 system will showcase the EWS Reverse Polymerization™ Process and is designed to breakdown 900 tires per day into carbon black, oil and steel. The system is also designed to use the off-gases from the process as a fuel source to generate the electricity required to run the TR900 system.

EWS has also designed processors for the environmentally safe sterilization and disposal of medical, biological, liquid and food waste and for the recovery of usable byproducts from other organic sources. EWS continues to explore other applications for its technology. Please visit EWS's home page on the Internet at: www.ewmc.com.

WARNING: The Company relies upon litigation protection for "forward–looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Environmental Waste International Inc.
    Dr. Stephen Simms
    EWS President
    (905) 686-8689