SOURCE: Radar Acquisitions Corp.

February 26, 2009 12:29 ET

Radar Signs MOU With Qualified Clean Coal Technology Partner

CALGARY, AB--(Marketwire - February 26, 2009) - Radar Acquisitions Corp. (TSX-V: RAC) is pleased to announce that, in reference to the RFP news release dated January 23, 2009, the company has signed a Memorandum Of Understanding ("MOU") with a qualified technology partner, Sargas Inc., to participate on a joint effort basis with Radar in responding to an All-Source RFP for power published by Xcel Energy on January 9, 2009 as stated below under the heading Xcel Energy's Request for Power.

Radar is excited about this arrangement as it positions the Buick project extremely well to respond to Xcel's All-Source RFP for power. Sargas' technology could allow for Radar's significant lignite coal resource, the Buick Coal Property, to be developed with a "clean coal" energy plant that will capture 95% of the CO2, and virtually eliminate NOx and SOx emissions associated with coal. This "clean coal" energy plant should ultimately enable the participants to provide the State of Colorado with additional base load power.

Sargas, a wholly owned subsidiary of Norway's Saragas AS, offers a proprietary systems solution for capture, storage, transport and the commercial use of CO2, including its ultimate disposition. The Company has developed and verified the effectiveness of its capture technology based on proven, commercially tested pressurized combustion and carbonate CO2 capture technology components. The technology can be applied to both coal-fired and gas-fired plants on a greenfield or re-powering basis in installations from 100 MW - 800 MW.

Radar's Buick Coal Property, located 90 miles south east of Denver, Colorado, and encompassing over 22,500 acres of leases, constitutes a significant resource that is ideally suited for the development of power generation capacity.

The Memorandum Of Understanding enables the parties to work together to finalize the design and viability of the proposed "clean coal" energy plant and to invite the participation of a third party utility company in the venture.

Xcel Energy's Request for Power

On January 9, 2009, Public Service Company of Colorado (Public Service) issued an All-Source solicitation seeking resources to serve the needs of its retail and wholesale customers. The All-Source solicitation seeks proposals for power purchase agreements for capacity and energy resources with an in-service date to precede May 31, 2015. The solicitation is part of the most recent 2007 Colorado Resource Plan approved by the Colorado Public Utilities Commission in December.

Xcel Energy is seeking to add up to 700 megawatts of additional wind and solar generation through the All-Source RFP. In addition, the company will consider acquiring up to 600 megawatts from solar thermal generation with storage capability or natural gas backup.

Under CPUC rules, all forms of electric generation greater than 30 megawatts -- both fossil and renewable -- can be bid, although this RFP restricts coal-fired bids to those from facilities that capture and sequester at least 50 percent of their carbon dioxide emissions. The proposed Radar / Sargas project design will provide nearly twice that operating efficiency.

About Radar Acquisitions Corp.

Radar Acquisitions Corp. is a natural resource development company focused on growth through the acquisition, exploration and development of coal resource and resource-related technologies. Radar has currently two major projects under development; the Buick Coal Project which holds significant coal resources in Colorado, USA and the RPS Fuels joint venture which develops engineered solid fuel products. Other coal and related opportunities continue to be evaluated on an opportunistic basis. For more information about the Company go to www.radar.ab.ca.

About Sargas Inc.

Sargas Inc. of Delaware USA is a wholly owned subsidiary of the Norwegian company Sargas AS. www.sargas.no. Sargas' mission is to break the link between economic growth and CO2 emission growth. Specifically, Sargas' commercially ready technology will shorten the length of time to large scale global deployment of near-zero emission power.

Sargas provides solutions for ultra low emission power generation from coal and other fossil fuels. Its patented designs capture 95% of the CO2 and virtually eliminate NOx and SOx emissions, and can be applied to greenfield or to the repowering of older plants.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Contact Information

  • For Further Information:

    RADAR
    Timothy J. Bergen
    President
    Peter Leger
    Vice-President
    Tel: 403.262.3797
    Toll Free: 1.877.262.5888
    Email: Email Contact
    Email Contact

    SARGAS Inc.
    Paul D. Gandola
    President
    Tel: 440-725-0599
    Email: Email Contact