WILTON, Conn., Feb. 18 /PRNewswire-FirstCall/ -- Startech Environmental
Corporation, a fully reporting company, today announced that it has signed a
$34,300,000 contract for the delivery and startup of two 50 ton-per-day Plasma
Converter Systems (TM) with FP Immobiliare srl to process electronic waste
(e-waste) and specialty waste in a new FP Immobiliare facility near Rome.
E-waste is the name given to outdated and discarded electronic waste such
as computers, printers, cell phones, monitors, copiers, fax machines and other
electronic and electrical devices. A Waste Age magazine article said, "The EU
(European Union) estimates that e-waste accounts for 6 million tons of garbage
across Europe ... "
Upon the successful completion of the lease-financing arrangements between
the Customer and the leasing company, Startech will receive the first of its
scheduled payments and manufacturing will commence immediately. The Startech
systems will be built in the Company's 30,000 square foot manufacturing
facility in Bristol, Connecticut with the shipment of the first system
scheduled for 11 months after commencement of manufacturing. The transaction
was implemented with the assistance of the West 55 Corporation, Startech's
exclusive representative in Italy.
About Startech Environmental Corp:
Startech is an environmental technology company engaged in the production
and sale of its innovative, proprietary plasma processing equipment known as
the Plasma Converter System that achieves closed-loop elemental recycling to
safely and irreversibly destroy hazardous and non-hazardous waste, industrial
by-products and also items such as "e-waste," and other specialty wastes while
converting them into useful commodity products that can include surplus energy
and also hydrogen for use and for sale.
Safe Harbor for Forward-Looking Statements:
This press release contains forward-looking statements, including
statements regarding the Company's plans and expectations regarding the
development and commercialization of its Plasma Converter(TM) technology. All
forward-looking statements are subject to risk and uncertainties that could
cause actual results to differ materially from those projected. Factors that
could cause such a difference include, without limitation, general risks
associated with product development, manufacturing, failure of the Customer to
obtain appropriate lease financing for the project, rapid technological change
and competition as well as other risks set forth in the Company's filings with
the Securities and Exchange Commission. The forward-looking statements
contained herein speak only as of the date of this press release. The Company
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statement to reflect any change in the
Company's expectations or any change in events, conditions or circumstances on
which any such statement is based.
Please see the Startech web page: http://www.startech.net
SOURCE Startech Environmental Corporation
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Related links:
http://www.startech.net
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
CONTACT:
Joseph F. Longo of Startech Environmental
Corporation, 1-888-807-9443, +1-203-210-0141, or
jlongo@startech.net; or David Resnic or Lorra Gosselin of
Schwartz Communications, +1-781-684-0770,
startech@schwartz-pr.com, for Startech Environmental Corporation
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