SOURCE: The X-Change Corporation

October 20, 2010 16:01 ET

The X-Change Corporation Announces the Acquisition of GhG SaviorTech Corp.

DALLAS, TX--(Marketwire - October 20, 2010) -  The X-Change Corporation (PINKSHEETS: XCHC) today announced that it has completed the acquisition of GhG SaviorTech Corp., issuing 5,000,000 shares of X-Change treasury stock for 100% of the stock of GhG. GhG works with power utilities to convert carbon dioxide emissions to salable byproducts worth nearly $400 million per plant per year.

GhG converts gas-fired power plant smokestack emissions into products that can be sold profitably around the world. The products include a fertilizer (ammonium chloride) and soda ash (sodium carbonate). A typical conversion plant, operated as a joint venture with a power utility, can generate one million metric tons of soda ash per year. At today's market rates of $0.18 to $0.21 per pound, that represents $396 million of salable product. In addition to joint ventures, the company may also license its technology.

Founded in 2007 by Dr. Bruce Li, who is also president and chief technology officer of X-Change subsidiary 21-Century Silicon, GHG brings real value to power utilities, which benefit in two ways from GhG's process, as current emissions-scrubbing technology adds 40% to the cost of electricity production. GhG reduces that to zero and further makes the scrubbing profitable through the sale of byproducts. The byproducts are sold to broad and receptive markets in Brazil, Haiti, Vietnam, and South China, where soda ash is used to fertilize sugar cane fields supporting the production of ethanol, another green product, among other uses. The world-wide annual market for soda ash is between 50 and 60 million metric tons.

GhG plans to form joint ventures with power-generating utility companies in the US and overseas to convert the plants' emissions. A venture with Garland Power and Light in Nevada, Texas, is targeted to be online within nine months. Negotiations are underway with other power utilities in the US, China, and South Africa.

In Hangzhou, China, GhG has with Garland Power and Light formed the International Carbon Clean Tech Institute to develop a pilot plant that funds additional research in expanding the company's capabilities and uses for its products. There are other opportunities for compounding greenhouse-gas savings with the GhG process. The three largest carbon dioxide polluters include the construction materials industry (concrete, brick, etc.), power-generating utilities, and gasoline- and diesel-fueled vehicles. Current plans impact power generation and alternative fuels. A future market for the company's soda ash may be the emerging glass-based brick industry, producing bricks using only solar-reflection heating, completely eliminating carbon dioxide emission from the brick industry.

Dr. H. Bruce Li, GhG's CTO and Founder, worked at Texas Instruments Labs in Dallas for sixteen years in various capacities. He possesses a broad background in chemistry, physics, colloidal materials, semiconductor process, fuel cell process and structure, and nuclear engineering. He holds a Bachelors Degree in chemical engineering from National Taiwan University and an M.S. and the Ph.D. degree in physics from Oklahoma State University. Dr. Li is President and CTO of X-Change subsidiary, 21-Century Silicon, Inc.

Mr. Peter Mei., GhG's CEO and Founder, has served in a number of executive positions, specializing in international marketing and sales for the semiconductor and silicon-fabrication industries. Mr. Mei served a 15-year career at Texas Instruments within the corporate R&D department. Prior to founding 21-Century Silicon with Dr. Li, Mr. Mei served as vice president of technical marketing for GlobiTech. He has also served as worldwide technology transfer manager for Texas Instruments, Siemens, and Infineon. Peter holds both MS and MS degrees in electrical engineering from Rutgers and National Taiwan University, respectively. Mr. Mei is a Senior Member of IEEE and is a respected leader in the DFW Green Energy Entrepreneurial community. Mr. Mei is Chairman and CEO of 21-Century Silicon.

Dr. Truman Blocker, Project Manager, received the Bachelor degrees in Pure Mathematics Physics at the University of Texas, Austin and his M.S. and Ph.D. in Physics, University of Pennsylvania, under Alan J. Heeger, the 2000 Nobel Laureate in Chemistry. His career includes seventeen years at Texas Instruments in various technical/management roles including Manager of the VLSI Technology Laboratory, demonstrating 0.1 micron feature size transistor structures in the early 1970s. In the 1980s and 1990s, he served as Director of Corporate Relations for the National Nanofabrication Facility at Cornell University and Director of Research Implementation at the Semiconductor Research Corporation. His patents include US Pat. #3,860,879, #4,092,660, #4,030,049, and he is co-holder on patents for the FAA's Air Traffic Control Radar installed at major airports worldwide.

Dr. Blocker has also been elected to the board of directors of X-Change.

About The X-Change Corporation
XCHC is a manufacturing company in the "green" industries, founded in 1969 to create value for its shareholders by identifying, acquiring, and providing services for private companies that are good growth candidates.

Forward-Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. The X-Change Corporation does not undertake any duty nor does it intend to update the results of these forward-looking statements.

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