Worldwide Commitment to Paris Climate Agreement To Open Up New Opportunities for Cemtrex
September 30 2016 - 09:00AM
Cemtrex Inc. (Nasdaq: CETX), a world leading industrial and
manufacturing solutions company, announced today that it expects
new markets for greenhouse gas monitoring and control technologies
to open up due to the recent commitment of many nations to the
Paris Climate Agreement. The Agreement calls on countries to
combat climate change and to accelerate and intensify the actions
and investments needed for a sustainable low-carbon future, as well
as to adapt to the increasing impacts of climate change.
The Agreement will enter into force 30 days after at least 55
countries, accounting for 55 per cent of global greenhouse gas
emissions, deposit their instruments of ratification. During the UN
General Assembly this past week, 32 more countries deposited
their instruments of ratification for the Agreement, bringing the
total to 61 countries that have formally joined the pact, and
officially crossing one of the two thresholds required to bring it
into force. Those 61 countries, including the two biggest emitters,
China & the US, together represent 47.79 per cent of global
greenhouse gas emissions. Following the announcement last week that
India will ratify on October 2nd, formal approval from countries
representing slightly more than three per cent in global emissions
is still needed.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “This
global interest to curb climate change is an important step towards
stronger domestic and international policy on CO2 reduction. This
translates to companies implementing greenhouse gas monitoring
technologies as a first step to better assess their carbon
footprint and then subsequently technologies for CO2 capture and
removal. At Cemtrex, we are positioned well to provide monitoring
solutions for many industrial and manufacturing companies
currently, and are focused on developing innovative solutions for a
low carbon future. We believe this can open billion dollar markets
for our products like IS2500 and VAMOX.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a global, diversified industrial
and manufacturing solutions company that provides a wide array of
products and services to meet today's technology challenges and is
rapidly growing through acquisitions. Cemtrex provides:
manufacturing services of advanced custom engineered electronics,
industrial maintenance services, monitoring instruments for
industrial processes and environmental compliance, and equipment
for controlling particulates, hazardous pollutants, and Greenhouse
gases used in carbon trading globally.
www.cemtrex.com
Safe Harbor Statement
This press release contains forward-looking statements. Actual
results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. Statements made herein are as of the date of this
press release and should not be relied upon as of any subsequent
date.
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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