LAS VEGAS, NV--(Marketwire - January 18, 2011) - TimeShare Holdings, Inc. (
TimeShare Holdings, Inc. (TMSH) has acquired from Native America Consulting, a wholly-owned subsidiary of TMSH, the Joint Venture contract with Helios, Inc. of India to construct a pilot project for the Romania municipality of Acatari to test the patented manufacturing technology developed by Helios & Helios Assembly of India (Helios, Inc.) called "MSW-TO-ENERGY SYSTEM." The technology allows for an environmentally safe conversion of Municipal Solid Waste (MSW) into earth-friendly energy. The pilot will utilize a 250 kW portable unit, the smallest of the series.
Upon completion of the successful pilot, it is anticipated that other Romanian municipalities will purchase the larger portable units in the series up to 5 MW. The pilot is expected to open the door for sales to other European countries sourcing for cost-effective green energy solutions and more responsible solid waste management practices.
Estimated revenues from the pilot project are as follows:
- The JV agreement provides for TMSH to receive 50% of monthly revenues for the duration of the pilot.
- Monthly revenues from the sale of power to the Romanian public power company are expected to generate an estimated $11,250.00 USD per month at EUR 0.45 per kW, $0.585 USD per kW. Green Certificates are estimated to generate an additional $31,950.00 USD per month, bringing the total monthly revenues to $43,200.00 USD, and annual revenues approximately to $518,400.00 USD for one 250 kW plant.
TMSH is filing a Form 8-K. Included within the filing are documents verifying the JV partnership, Romanian government purchase agreement, and an executive summary illustrating the technology.
Safe Harbor Statement
This news release contains "forward-looking statements" as that term is defined in Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding Biogas, PV Solar Energy, Wind Energy other alternative energy explorations in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to PV Solar Energy, Wind Energy other alternative energy development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks such as weather conditions uncertainties. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Information:
Technical Inquiries:
Tejas Sonavane
President
Helios, Inc. -- India
heliostrading@rediffmail.com
General Inquiries:
Paul Thompson
Vice President, Investor Relations
Timeshare Holdings, Inc. -- USA
pthompson@timeshareloans.com