SOURCE: Harmonic Energy Inc.

Harmonic Energy Inc.

April 12, 2012 06:56 ET

Harmonic Energy Signs Feedstock Contract Valued at $300 Million

LONDON--(Marketwire - Apr 12, 2012) - Harmonic Energy Inc. (OTCQB: ASUV) (OTCBB: ASUV) is a company focused on tire manufacturing and recycling, using an innovative approach to energy efficiency and sustainability. Harmonic is honored to announce that it has completed and signed a long term tire feedstock contract in Michigan.

Harmonic Energy has signed a tire feedstock contract with Enertech a tire recycling company that services states in Illinois, Indiana, Michigan and Ohio. The contract is for 200 tonnes per day which is roughly 22,000 tires or a total of approximately 7.5 Million tires a year. The length of the contract term is for 10 years with the option to renew for 5 year terms.

Mr. Jamie Mann, CEO of Harmonic, stated, "We are extremely pleased to secure this valuable tire feedstock as this will give Harmonic a strong foundation to establish our first facility located within the United States. The great lakes region represents a phenomenal opportunity to create domestic clean energy and new green jobs in the manufacturing heartland of the United States."

Harmonic's plan will be to utilize this feedstock from Enertech to remanufacture a percentage of the quality tire casings into new premium passenger and light truck tires. The tire casings that do not meet our high quality standards for use in the remanufacturing process will be converted into clean energy and green commodities using our Tyrolysis™ system. Harmonic's Tyrolysis™ system will further breakdown these tires into core commodities; High Grade Nano Carbon, Quality Fuel Oil and High Tension Steel. With roughly 7.5 Million tires locked up in one location this equates to a potential feedstock value of $30 Million in commodity revenues each year and $300 Million in commodity revenues over 10 years.

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About Harmonic Energy Inc.

Harmonic Energy Inc. is a company that focuses on a comprehensive solution to the disposition of scrap tires worldwide. Harmonic plans include the utilization of proven technologies that ensure each scrap tire is either remanufactured and put back on the road as a new tire or is completely recycled and reduced into marketable chemical commodity products. Both the tire remanufacturing and carbonization technologies that will be utilized by Harmonic are commercially proven and have viable operating commercial facilities.