SOURCE: TransGlobal Assets, Inc

TransGlobal Assets, Inc

May 02, 2011 11:26 ET

TransGlobal Assets and Helios Receive LOIs to Purchase Biomass Systems for $12M USD

LINCOLN CITY, OR--(Marketwire - May 2, 2011) - TransGlobal Assets, Inc. (OTCQB: TMSH) (PINKSHEETS: TMSH) is pleased to announce that its JV partner, Helios Inc. of India, has received Letters of Intent from Solaris PLC of Bulgaria and Chemtech SRL of Romania, each agreeing to purchase a 1-megawatt patented Portable Biomass Waste System. The purchase price for each 1-MW System is $6,000,000 (USD), payable in two installments; one half upon placement of the order and one half upon delivery of the completed unit.

The Helios "MSW-TO-ENERGY SYSTEM" is an earth-friendly technology with the potential to revolutionize the way municipal landfill waste (MSW) and hazardous bio materials are managed around the world. The Helios System was specifically designed to address the many downsides of current biomass waste systems by making the System portable, lower-cost, modular, non-polluting, fast to design/build, and same-day installed and operational. In addition, the Helios System can output multiple high-value saleable byproducts, the most profitable of which is electricity, followed by ash for concrete, Syngas, hydrogen, methane, and more.

The LOIs to purchase two 1-megawatt units are in addition to the existing LOIs with two Romanian municipalities that intend for the JV partners to own and operate several 1-megawatt up to 5-megawatt units at current municipal landfill sites for a 15-year period and receive EUR 45 ($65 USD est.) per megawatt of electricity fed to the country's power grid. The size and number of units will be determined by the requirements of each site. The JV partners also will receive ongoing revenues from System byproducts such as ash, gases, Green Certificates, Tipping Fees, and other.

Estimated Gross Sales for Electricity Alonefor JV Owned & Operated Systems:
(Estimates do not reflect all revenue sources)

Annual Revenues:

  • 1-Megawatt System = $1.87M USD (EUR 1,285,223)
  • 5 Megawatt System = $9.36M USD (EUR 6,432,989)

15-Year Revenues:

  • 1-Megawatt System = $28M USD (EUR 19,278,350)
  • 5 Megawatt System = $140.4M USD (EUR 96,494,845)

"This is the beginning of a wonderful domino effect," says Paul Thompson, Vice President of Investor Relations. "We fully expect the Helios System to catch on like wild fire once governments and businesses learn there is a far better way to manage waste that is both eco-friendly and cost-saving."

About TransGlobal Assets, Inc.:

TransGlobal Assets, Inc. is a rapidly evolving global holding corporation strategically poised to build a multi-billion dollar asset base within diverse industries, such as Renewable Energy, Hospitality Properties, Senior-Related Services, Commercial Real Estate, select Manufacturing, and beyond.

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 that are not purely historical are forward-looking statements. Forward-looking statements involve known and unknown risks, and other factors that may cause actual results or achievements to differ materially from the anticipated results or achievements expressed or implied by such forward-looking statements. 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.

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