SOURCE: Waste2energy Holdings Inc.

Waste2Energy Holdings Inc.

June 14, 2010 12:02 ET

Waste2Energy Announces Letter of Intent for New Plant in Italy

GREENVILLE, SC--(Marketwire - June 14, 2010) -  Waste2Energy Holdings, Inc. (PINKSHEETS: WTEZ) (W2e) announced that its UK subsidiary Waste2Energy Engineering Limited, has received a non-binding letter of intent from Sidercomit SPA for the design and supply of one 60 metric ton per day cBOS™ train to process MSW at a plant near Milan, Italy. 

The plant, incorporating W2e's latest continuous Batch Oxidation System (cBOS™) technology, will process an sorted municipal solid waste stream that is currently deposited in a landfill. In addition to addressing the current capacity constraints of the landfill, the facility will eliminate the materials that generate greenhouse gases in a landfill, and will be capable of producing approximately 2 MW of renewable electrical energy. 

W2e's cBOS™ technology is employed in a 24 MTPD plant in Husavik, Iceland that has been operating for nearly 4 years and in the 120 MTPD facility in Dumfries, Scotland that was commissioned late last year. The air emissions from the Husavik plant have surpassed the stringent EU regulations and the Dumfries plant has received a permit to operate from SEPA (Scottish Environmental Protection Agency).

Any formal agreement with Sidercomit is subject to the negotiation and execution of a definitive agreement. There can be no assurance that such an agreement will be reached between the parties or the final terms of any such agreement.

About Waste2Energy Holdings, Inc:
Waste2Energy Holdings, Inc. through its operating subsidiaries, designs, builds and installs waste-to-energy plants that are scalable, modular, environment friendly and robust enough to operate in remote environments. We compete in the growing worldwide market for waste-to-energy systems that simultaneously destroy waste and recover energy. We provide customized engineering solutions that will enable our current and future customers to convert biomass and other solid waste streams traditionally destined for landfill into clean renewable energy. 

About Sidercomit SPA:
Sidercomit is a waste management and recycling company that owns and operates a number of waste plants in Northern Italy. 

Safe Harbor Statement
Under the Private Securities Litigation Act of 1995 - This press release discusses forward-looking statements with risks and uncertainties. Our results could differ materially due to various factors, including inability to finance operations or expansion and hire or retain personnel, economy and interest rate changes, and events such as terrorism. We believe statements to be reasonable, but neither we nor any other person can represent they will be achieved. We are not obligated to update statements due to new information, events or otherwise. Please see the risk factors associated with our Company and review our SEC filings. For more information on Waste2Energy, please visit www.waste2energy.com.

Contact Information

  • Waste2Energy Holdings, Inc.
    Peter Bohan
    1 Chick Springs Road
    Greenville, SC 29609
    646-723-4000