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 EnviroScrub and Marcegaglia NECCT Announce $24 million Air Pollution Control Project at Municipal Waste-Fired Site in Italy 9 August, 2004 Minneapolis, Minnesota EnviroScrub Technologies Corporation (“EnviroScrub”) has signed an agreement with Marcegaglia NECCT (“NECCT”) to work together on a $24 million (€19 million) SO2/ NOx / Mercury air pollution control plant to be located at Marcegaglia Energy’s 12 Mw municipal waste-fired site in Massafra, Italy. Negotiations leading to the agreement were conducted by EnviroScrub executives and NECCT in Milan, Italy and in St. Louis, Missouri during July 2004. Marcegaglia Energy is a wholly-owned company of Gruppo Marcegaglia, an Italian industrial and financial group comprised of 50 companies and more than 5,000 employees in the steel/metallurgical sector and in a number of other manufacturing fields: construction, engineering, energy, agriculture, and environmental technology. Gruppo Marcegaglia’s revenues totaled over $2.5 billion worldwide in 2003; 64% in Italy, 31% in Europe, and 5% outside of Europe. EnviroScrub is scheduled to receive a $3 million Technology Transfer Fee for the project as well as significant additional revenues for engineering and consulting work performed during Stage I and Stage II of the project at the Massafra, Italy municipal waste-fired site. In turn, NECCT will receive an exclusive license to use EnviroScrub’s patented Pahlman Process™ technology for municipal waste-fired power generation sites in Italy and Europe. An application has been made to the Italian government for partial-funding of the $24 million project. “We are pleased to have the opportunity to work on this important project with Gruppo Marcegaglia. Municipal waste-fired facilities are a growing market in Italy and in Europe as a whole. Our SO2 / NOx / Mercury removal technology is well suited to clean up the emissions from these sites,” stated EnviroScrub’s Vice President and Chief Technology Officer Charlie Hammel. “Working in an industrial environment, away from coal-fired power generation, will demonstrate the versatility and the value of EnviroScrub’s Pahlman Process™ technology. Plus, this project will get us off the mark in Europe and allows us to align ourselves with an influential new strategic partner in the world’s largest waste-fired energy market,” added Kurt V. Steinbergs, EnviroScrub’s Executive Vice President and Chief Financial Officer. EnviroScrub, a privately-held deployment-stage company based in Minneapolis, Minnesota, licenses its patented and proprietary dry Pahlman™ Process SO2 / NOx / Hg / PM 2.5 / HCl / H2S scrubbing technology to power generation and industrial plants worldwide. EnviroScrub plans to compete with its first commercial-scale projects in 2005. For more information, contact: EnviroScrub Technologies Corporation Back to News |
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