South Carolina County Council Agrees to Negotiate With EcoPlus for Siting of Waste to Energy Facility
2008-07-15 10:50:00
South Carolina County Council Agrees to Negotiate With EcoPlus for Siting of Waste to Energy Facility
Company Intends to Maximize Use of Federal Grant and Loan Programs
CHARLOTTE, NC–(EMWNews – July 15, 2008) – EcoPlus, Inc. (
today that is has received formal documentation of a unanimous resolution
by the Berkeley County, South Carolina, County Council voted upon on June
28, 2008, “…authorizing the Berkley County Water and Sewer Authority to
negotiate with EcoPlus, Inc. for the location of a Recycling/Waste to
Energy Facility.” The body of the resolution is as follows.
WHEREAS, Berkeley County Water and Sewer Authority (the “Authority”)
receives large quantities of fats, oils and greases (“FOG”) from various
haulers unloading from the restaurants of the Trident area; and
WHEREAS, the FOG results in significant additional cost and expense to the
operation of the sewer and treatment facilities operated by the Authority;
and
WHEREAS, EcoPlus, Inc. (“Eco”) has developed a process by which it can
receive the FOG from the haulers and convert the FOG into a solid
containing significant energy for the generation of power from recycled
materials; and
WHEREAS, Eco believes that (i) it qualifies for federally sponsored
renewable fuels programs and (ii) it can relieve the Authority from a
substantial burden of the treatment and processing of FOG; and
WHEREAS, the Authority and Eco are interested in pursuing the location of
the recycling facility for FOG adjacent to existing treatment facilities of
the Authority and to that end seek to enter into a letter of intent (the
“LOI”‘) (i) to allow Eco and the Authority to negotiate either a long term
ground lease or the purchase of land from the Authority and (ii) to allow
Eco to enter upon the land and perform environmental assessment,
geotechnical assessment, wetlands survey and similar due diligence.
NOW, THEREFORE, the Authority is hereby authorized to enter into the LOI
with Eco for the purpose of determining the suitability of the lands for a
FOG recycling facility on property owned by and adjacent to existing
facilities of the Authority. PROVIDED, the Authority is not authorized to
enter into any agreement for the sale or ground lease of such land without
further permission of the Berkeley County Council.
Phil Hicks, President of EcoPlus. Inc., noted that, “Our patented
technology for FOG conversion is unique and gaining profile, due to its
ability to produce a high quality fuel. Should the siting phase and
follow-on evaluations result in completion of a facility, EcoPlus intends
to be owner-operator.” Hicks continued by noting that “This project is
within the footprint of the greater Charleston, South Carolina, area, and
provides substantial opportunity for biofuel production and for increasing
shareholder value for EcoPlus. We look forward to working with Berkeley
County on the upcoming LOI and potential processing facility siting.”
Forward-Looking Disclaimer
Statements regarding financial matters in this press release other than
historical facts are “forward-looking statements” within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such proclamations
about the Company’s future expectations, including future revenues and
earnings, technology effectiveness and all other forward-looking statements
be subject to the safe harbors created thereby. EcoPlus, Inc. is a
development stage company that depends on outside resources to maintain its
continuation. Since these statements involve risks and uncertainties and
are subject to change at any time, the Company’s actual results may differ
materially from expected results.
Factors that may affect forward-looking statements and the Company’s
business generally include but are not limited to (i) the risk factors and
cautionary statements made in the Company’s NASD or SEC filings; and (ii)
other factors that EcoPlus is currently unable to identify or quantify, but
may exist in the future.
Forward-looking statements speak only as of the date the statement was
made. EcoPlus does not undertake and specifically declines any obligation
to update any forward-looking statements.
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