Peat Resources Limited Signs Research Collaboration Agreement
December 12 2007 - 3:12PM
Marketwired
TORONTO, ONTARIO will collaborate with the Ontario Centre for
Excellence for Energy (OCE), Lakehead University and other partners
on a research program to examine peat fuel harvesting and
processing systems. Funding for the program is managed by OCE under
the auspices of the provincially-financed Atikokan Bioenergy
Research Centre. OCE has allocated $720,000 over two years to the
project.
The project, Environmental Effects of Wet Harvesting Peat as an
Alternative Energy Source for the Atikokan Generating Station, will
be led by scientists at Lakehead University (Thunder Bay) in
conjunction with peatland experts from McMaster University
(Hamilton). Peat Resources Limited is contributing to the project
through provision of its unique knowledge and experience in peat
fuel development and by providing access to peatlands in its
licensed areas near Upsala (northwest Ontario) for demonstration
and monitoring of restoration models. Results of related activities
by the Company on its licensed peatland areas in western
Newfoundland will also be contributed to the project.
In a second project, OCE is allocating $880,000 for the
Co-firing of Peat and Biomass with Coal for Power Generation. This
project is also being led by Lakehead University in partnership
with CANMET Energy Technology Centre (Ottawa) and Ontario Power
Generation. Peat Resources Limited will be supplying processed peat
fuel pellets from its small-scale production facility in
Stephenville (Newfoundland), firstly for pilot scale trials at
CANMET and later, in 2008, for a large 500 tonne combustion trial
by Ontario Power Generation at the Atikokan Generating Station.
Together, these research projects will provide important
scientific and technical data supporting the application of peat
fuel as an economic and environmentally attractive alternative to
fossil fuels, such as coal, for power generation in Ontario and
other North American jurisdictions.
Peat Resources Limited was formed to explore, develop and
produce peat fuel for use in electricity generating stations and
other facilities that require a long-term assured supply of
economically competitive, environmentally favourable, and
consistent quality fuel. With a strong resource base in Ontario and
Newfoundland, an expert management team and unique knowledge of
peat processing technology, the Company is positioned to be the
pre-eminent leader in this new North American energy industry.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this news release.
Contacts: Peat Resources Limited Peter Telford President and CEO
(416) 862-7885 (416) 862-7889 (FAX) Email:
peatfuel@peatresources.com Website: www.peatresources.com
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