WILTON, Conn., Dec. 4 /PRNewswire-FirstCall/ -- Startech Environmental
Corporation announced today that it has received an additional $250,000
progress payment for its $1,250,000 contract with Mihama Inc. to modify the
Plasma Converter(TM) in Japan to safely and irreversibly destroy PCBs
(polychlorinated byphenyls). Mihama is a Startech distributor for Japan.
The PCB modification project is scheduled for completion in three months.
The balance of the contract's $500,000 will be paid in progress-payment
increments during the next three months. In addition to processing PCBs, the
system will also be used to process hazardous incinerator ash.
About PCBs
The World Wildlife Fund reports that, "PCBs interfere with many biological
functions, including the immune system, the nervous system and several
endocrine systems, and that fetuses appear to be particularly vulnerable to
these actions. Chronic low level PCB exposures can cause liver damage,
reproductive abnormalities, immune suppression, neurological and endocrine
system disorders, retarded infant development, and stunted intellectual
function.
Of the estimated 3.4 billion pounds of PCBs manufactured worldwide (not
including the PCBs in the former Soviet Union) by 1989, up to two-thirds
remain in use or in the environment."
About the Japanese PCB program
In 2001, the Japanese Ministry of the Environment reported that there are
about 270,000 high-voltage transformers and capacitors stored in Japan that
contain 70% of the PCB that was ever deployed in the country. In October
2002, the Ministry of the Environment notified various prefectures that they
have to develop plans and facilities to take care of the PCB-containing
products and maintain control of them until they are safely and irreversibly
destroyed. The Ministry envisions establishing PCB Processing facilities in
approximately six areas in the country.
About Mihama Inc.
Mihama Inc. is a Startech Environmental distributor headquartered in
Nagano-Ken, Japan. It is a well established manufacturer and seller of
automotive parts and accessories. Mihama is now expanding into the recycling
of wastes, environmental technologies, the irreversible destruction of PCBs,
the development and sale of major capital equipment and the management of
industrial plants. Mihama's customers are eminent international companies
including Toyota Motor Corporation, General Motors, NTN Corporation and major
trading companies that include Toyota Tsusho, among others.
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. This ruggedly built system achieves closed-loop
elemental recycling to safely and irreversibly destroy hazardous and non-
hazardous waste, solids, liquids, gases, and industrial by-products while
converting them into useful commercial products that can include chemical
feed-stocks, synthesis gas, hydrogen and energy for use and sale.
The system is available for demonstration, by appointment, at the
company's facilities in Technology Park in Bristol, Connecticut.
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, 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
Corp, 1-888-807-9443, or +1-203-210-0141, jlongo@startech.net
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