WILTON, Conn., July 24 /PRNewswire-FirstCall/ -- Startech Environmental
Corporation (OTC Bulletin Board: STHK), a fully reporting company,
announced that it has received a $100,000 initial payment from GlobalTech
Environmental Inc., the Company's distributor for the Peoples Republic of
China, to start the production of the definitive installation drawings and
engineering documentation for the 20,000 pound-per-day Plasma Converter
System to be located in Liaoning Province, China. This initial payment is
in addition to the $250,000 distributor-fee paid to the Company by
GlobalTech.
Pat Quinn, GlobalTech's Chief Executive Officer, said, "GlobalTech has
recently completed excellent discussions in Northern China with the newly
appointed Director of the Liaoning Environmental Protection Bureau, Mr.
Wang Bing Jie. Mr. Wang said that the establishment of the new Environment
Protection Park for the treatment of hazardous waste, centered around the
Startech Plasma Converter System, is of the highest priority for the LEPB,
and to show his full support, he has appointed a dedicated team to our
Liaoning project headed by Mr. Hong, the Assistant Director of the Liaoning
Environment Protection Bureau and also Mr. Xu, the President of the
Liaoning Environmental Association. To assure the success of the program,
the project will be managed by Mr. Hong of the LEPB."
Pat Quinn, also said, "In addition, GlobalTech has recently begun very
productive discussions with senior government officials in China to
establish the first-of-its-kind Startech 'Waste-To-Ethanol Facility' in
China to produce fuel-grade ethanol from discarded tires, refinery tank
bottoms and plastics."
Joseph F. Longo, Startech President, said, "With 20 percent of the
world's population and the dynamics of rapidly developing
industrialization, China has put environmental stewardship and sustainable
development high on its list of priorities.
"The year 2005 was the first year of the Beijing Olympiad; it was also
the key year for organizing a Green Olympics that begins two years from
now. As one of the three themes of Beijing 2008 Olympics, Green Olympics
means to prepare Olympic Games in accordance with the principle of
sustainable development, which calls for the protection of environment,
conservation of resources and maintenance of ecological balance.
"China is a very important market for the Company; one that we have had
in development during the past five years."
About Startech -- an Environment and Energy Company
Startech Environmental is an environment and energy industry company
engaged in the production and sale of its innovative, proprietary plasma
processing equipment known as the Plasma Converter System(TM).
The Plasma Converter System safely and economically destroys wastes, no
matter how hazardous or lethal, and turns them into useful and valuable
products. In doing so, the System protects the environment and helps to
improve the public health and safety. The System achieves closed-loop
elemental recycling to safely and irreversibly destroy Municipal Solid
Waste, organics and inorganics, solids, liquids and gases, hazardous and
non-hazardous waste, industrial by-products and also items such as
"e-waste," medical waste, chemical industry waste and other specialty
wastes while converting many of them into useful commodity products that
can include metals and a synthesis-gas called Plasma Converted Gas
(PCG)(TM).
Among the many commercial uses for PCG, it can, for example, be used to
produce "green power," ethanol and other alcohol fuels, synthetic diesel
fuels and also hydrogen for sale.
The Startech Plasma Converter is essentially a manufacturing system
producing commodity products from feedstocks that were previously regarded
as wastes. Startech regards all wastes, hazardous and non-hazardous, as
valuable renewable resources.
For further information, please visit http://www.startech.net or contact Steve
Landa at (888) 807-9443, (203) 762-2499 x148 or sales@startech.net
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,
failure of the customer to obtain appropriate financing for the project,
general risks associated with product development, manufacturing, 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.
SOURCE Startech Environmental Corporation
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Related links:
http://www.startech.net
CONTACT:
Steve Landa of Startech Environmental
Corporation, +1-888-807-9443, or +1-203-762-2499, ext. 148,
sales@startech.net
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