SOURCE: Harmonic Energy Inc.

Harmonic Energy Inc.

April 03, 2012 08:45 ET

Harmonic Energy Signs Feedstock LOI for 75 Million Tires

LONDON--(Marketwire - Apr 3, 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 signed an LOI for a long term tire feedstock supply in the United States.

Harmonic Energy has signed a letter of intent with a well-established tire recycling company that services states in the Great Lakes Regions of Illinois, Indiana, Michigan and Ohio 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 term negotiated is for 10 years with the option to renew for another 10 year term.

Harmonic's plan will be to utilize this feedstock to remanufacture a percentage of the quality tire casings into new premium passenger and light truck tires. The waste or scrap 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 break down 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 for the company each year and $300 Million 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 must be commercially proven and have viable operating facilities not bound by subsidies.

Harmonic plans to be the first company to integrate these two technologies to provide a comprehensive 'closed-loop' solution for the management of scrap tires. By design, Harmonic plans to offer a solution that replicates nature's intentions by developing symbiosis between waste, energy supply and sustainable growth.