WILTON, Conn., Oct. 23 /PRNewswire-FirstCall/ --
Startech Environmental Corp. (Nasdaq: STHK), a leading manufacturer of plasma-
based systems for the conversion of waste into useful commodity products,
announced today that Dobrow-based Chempol, Sp. Z o.o., a private chemical
company in the Silesian coal-producing region of Poland, has signed a sales
contract to buy a 10-ton-per-day Plasma Converter System.
The system is expected to be shipped to Poland during the summer of next
year. Chempol will be using Startech's Plasma Converter System to process
pesticides. The sales contract follows the previously disclosed Letter of
Selection announced in Startech Environmental's third quarter 10-Q. With this
sales contract, Startech will exceed the previously announced guidance of $10
million in sales/backlog for calendar year 2002.
"Chempol, Ltd. is proud to be one of the first companies to use the
Startech Plasma Converter Systems for the destruction of pesticides in Poland.
Our facility is ready to accept delivery next summer and I look forward to
continuing cooperation of our companies," stated Wieslaw Grudzien, president
and chairman of the board of Chempol.
Joseph Klimek, president and CEO of Startech Environmental, said, "We are
pleased to have Chempol's endorsement of our technology. With our technology,
Chempol will be positioned to help eliminate hazardous pesticides and work for
a better environment in Poland. This sales contract is testimony to
Startech's commitment to fulfill our promises to our shareholders."
About Startech Environmental Corp:
Startech is an environmental equipment company whose Plasma Converter is
essentially an electrochemical system that, while safely destroying wastes,
even hazardous wastes, converts those materials into useful and valuable
commodity products. It does this economically, efficiently, with relatively
few moving parts, and without combustion. The prime mover in the Plasma
Converter process is the chemical dissociation (decomposition) of the feed
materials after which their elemental components (atoms) are reformed into
useful commodities. The United States Environmental Protection Agency has
designated materials, even if they may have once been regarded as wastes, or
hazardous wastes, undergoing such a recycling process, no longer as wastes,
but as "feedstocks." StarCell(TM) is the Company's new, patented hydrogen
selective membrane system that separates hydrogen from the PCG(TM) produced
from wastes. PCG is a clean synthesis fuel-gas mixture with many commercial
uses. StarCell is not a fuel cell; it is a ceramic membrane filtration system
that extracts hydrogen from PCG. PCG contains a large quantity of hydrogen.
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) and StarCell(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,
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 Corp.
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Related links:
http://www.startech.net
Company News On-Call:
http://www.prnewswire.com/comp/113537.html
CONTACT:
Robert DeRochie, CFO & VP of Investor
Relations of Startech Environmental Corp., +1-203-762-2499,
rlderoch@startech.net; or Investor Relations: Truc N Nguyen of
Stern & Co., +1-212-888-0044, tnguyen@sternco.com
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