Company Receives Quarter Million Dollars in Cash for the China Distributorship
WILTON, Conn., Oct. 3 /PRNewswire-FirstCall/ -- Startech Environmental
Corporation (OTC Bulletin Board: STHK), a fully reporting company, announced
today the appointment of GlobalTech Environmental Incorporated of Central,
Hong Kong, with offices in Shanghai, Beijing and Changzhou in China as its
exclusive distributor for the Peoples Republic of China. The Company has
received $250,000 as the cash fee cash for that Distributorship. The
Distributorship Agreement requires GlobalTech to purchase its first 25 ton-
per-day Plasma Converter System (PCS), or larger, by June 30, 2006. The
Agreement also requires GlobalTech to purchase $40 million worth of Startech
Plasma Converter Systems by March 27, 2007 and also $150 million worth of
Plasma Converter Systems each year for the ten years following as a minimum to
maintain the Distributorship.
Joseph F. Longo, president and CEO of Startech Environmental, said,
"GlobalTech will be managing the Distributorship with its principal operating
partner the Jingu Group. Jingu is a preeminent company with diversified
businesses in urban infrastructure development and planning, construction and
also environmental engineering. The Jingu world headquarters is located in
Changzhou, Jiangsu on the east coast of China near Shanghai."
"Even beyond China," he said, "a Shanghai operation is also very important
to all of our Western Pacific Rim marketing and sales initiatives."
Blake Edwards, GlobalTech Managing Director said, "The market for
Converters in China is enormous. It's an economy growing by leaps and bounds.
Beijing is getting ready to host the 2008 Summer Olympics, the Green Olympics.
Shanghai is hosting the 2007 Asia Pacific Games and recently won the bid from
the Bureau of International Expositions in Monte Carlo to host the 2010 World
Exposition. These will be incredibly valuable platforms from which to show
Plasma Converters to the world."
Blake Edwards also said, "GlobalTech has already selected a site in
Zhengzhou to install its first Plasma Converter System and it expects this to
be closely followed by systems in Shanghai and Beijing. GlobalTech currently
markets its black water re-use technology throughout the Asia Pacific Region
and will use its environmental solutions consulting and marketing expertise to
produce sales in China."
For further information on GlobalTech, please contact its website -
http://www.globaltechenviro.com
About Startech Environmental Corp.
Startech is a Waste Industry company engaged in the production and sale of
its innovative, proprietary plasma processing equipment known as the Plasma
Converter System. 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 them into useful commodity products that can include metals,
surplus energy and also hydrogen for use and for sale.
Startech regards all wastes as valuable renewable resources. Plasma
Converters process, as feedstocks, materials previously regarded as wastes.
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
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
CONTACT:
Steve Landa, 1-888-807-9443, +1-203-762-2499,
x148, or sales@startech.net
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