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Sustainable Power: Agreement in the Dominican Republic
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Sustainable Power Corp. announced that it has completed its inspection of Falcondo (Falconbridge Dominicana C por. A, a division of xStrata plc) in connection with Mr. Octavio Lopez, Director of Mining of the Dominican Republic. Sustainable Power and Falcondo have reached an agreement in principal for Sustainable Power to employ our emissions remediation "hydrogen on demand" technology on three 65 mw generators at Falcondo, and also employ our hydrogen on demand technology on a huge fleet of heavy mining equipment at the facility. Contracts for installation of the major equipment are currently in final preparation, with the financial terms anticipated to pay that Sustainable Power retains 50% of the savings from the implementation of the technology. Sustainable Power anticipates that this will also involve our Vertroleum® biofuel operation as the relationship continues to mature.
Falcondo is a ferronickel mine and processing facility in Bonao, Dominican Republic, which is approximating 80 km north of Santo Domingo. Falcondo was initially formed by Falconbridge Ltd., a major global mining company, which was acquired in 1996 by xStrata plc, a major global diversified mining group with over $55 billion in total assets and listed on the London and Swiss exchanges. Falcondo itself has 28,000 tons of nickel annual capacity when fully operational. The ferronickel operation is currently dormant because of high energy costs. Through the implementation of Sustainable Power's technology, Falcondo will be able to restore the operation to substantial commercial viability. Falcondo also has a 16,000 to 20,000 gallon per day refinery and topping plant which Sustainable Power could utilize to refine its Vertroleum® biofuels for utilization in all of Falcondo's vehicles.
"Energy costs have had a very heavy toll on many industries, with some of them simply unable to continue to operate commercially," said M. Richard Cutler, President and CEO of Sustainable Power. "The principals we met at Falcondo were thrilled by the potential substantial savings inherent in our technology which has the possibility of reducing their costs by more than 50%, not only making their ferronickel mining and production facility viable, but also reducing their overall cost for the production of electricity -- a substantial portion of which is sold commercially."
About Sustainable Power Corp.
Sustainable Power Corp. is an international green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights in the United States to develop and manage a portfolio of green energy plants utilizing a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.SustainablePowerCorp.us.
About Falcondo
Falcondo is a ferronickel surface mining operation located in the Dominican Republic, in the town of Bonao, 80 kilometers north of Santo Domingo. Ferronickel is a combination of iron and nickel used by the stainless steel industry. Facilities at the mine include a metallurgical treatment plant, a crude oil refinery and a 200 megawatt thermal power plant. Xstrata owns 85.26% of the outstanding shares of Falcondo. Mined ore is transported to the metallurgical where it is dried, briquetted and fed to shaft furnaces where it is calcined and the nickel and iron oxides are partially reduced in the solid state to metallics. The ore is then transported and smelted in two electric furnaces. After refining, the metal is cast into ferrocones, which contain roughly 40% nickel and 60% iron and trucked to the Port of Haina near Santo Domingo where they are shipped to market. Falcondo's power plant supplies the metallurgical complex with all its power. Crude oil is piped 80 kilometers from Santo Domingo where it is converted into naphtha for the reduction furnaces, diesel for mobile equipment and fuel oil for the power plant. Excess power and diesel is sold to third parties.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
Investor Contact:
Fusion Consulting Group, LLC.
(702) 434-8692
Sustainable Power Corp. announced that it has completed its inspection of Falcondo (Falconbridge Dominicana C por. A, a division of xStrata plc) in connection with Mr. Octavio Lopez, Director of Mining of the Dominican Republic. Sustainable Power and Falcondo have reached an agreement in principal for Sustainable Power to employ our emissions remediation "hydrogen on demand" technology on three 65 mw generators at Falcondo, and also employ our hydrogen on demand technology on a huge fleet of heavy mining equipment at the facility. Contracts for installation of the major equipment are currently in final preparation, with the financial terms anticipated to pay that Sustainable Power retains 50% of the savings from the implementation of the technology. Sustainable Power anticipates that this will also involve our Vertroleum® biofuel operation as the relationship continues to mature.
Falcondo is a ferronickel mine and processing facility in Bonao, Dominican Republic, which is approximating 80 km north of Santo Domingo. Falcondo was initially formed by Falconbridge Ltd., a major global mining company, which was acquired in 1996 by xStrata plc, a major global diversified mining group with over $55 billion in total assets and listed on the London and Swiss exchanges. Falcondo itself has 28,000 tons of nickel annual capacity when fully operational. The ferronickel operation is currently dormant because of high energy costs. Through the implementation of Sustainable Power's technology, Falcondo will be able to restore the operation to substantial commercial viability. Falcondo also has a 16,000 to 20,000 gallon per day refinery and topping plant which Sustainable Power could utilize to refine its Vertroleum® biofuels for utilization in all of Falcondo's vehicles.
"Energy costs have had a very heavy toll on many industries, with some of them simply unable to continue to operate commercially," said M. Richard Cutler, President and CEO of Sustainable Power. "The principals we met at Falcondo were thrilled by the potential substantial savings inherent in our technology which has the possibility of reducing their costs by more than 50%, not only making their ferronickel mining and production facility viable, but also reducing their overall cost for the production of electricity -- a substantial portion of which is sold commercially."
About Sustainable Power Corp.
Sustainable Power Corp. is an international green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights in the United States to develop and manage a portfolio of green energy plants utilizing a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.SustainablePowerCorp.us.
About Falcondo
Falcondo is a ferronickel surface mining operation located in the Dominican Republic, in the town of Bonao, 80 kilometers north of Santo Domingo. Ferronickel is a combination of iron and nickel used by the stainless steel industry. Facilities at the mine include a metallurgical treatment plant, a crude oil refinery and a 200 megawatt thermal power plant. Xstrata owns 85.26% of the outstanding shares of Falcondo. Mined ore is transported to the metallurgical where it is dried, briquetted and fed to shaft furnaces where it is calcined and the nickel and iron oxides are partially reduced in the solid state to metallics. The ore is then transported and smelted in two electric furnaces. After refining, the metal is cast into ferrocones, which contain roughly 40% nickel and 60% iron and trucked to the Port of Haina near Santo Domingo where they are shipped to market. Falcondo's power plant supplies the metallurgical complex with all its power. Crude oil is piped 80 kilometers from Santo Domingo where it is converted into naphtha for the reduction furnaces, diesel for mobile equipment and fuel oil for the power plant. Excess power and diesel is sold to third parties.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
Investor Contact:
Fusion Consulting Group, LLC.
(702) 434-8692