Peat Resources Limited (Toronto) First Shipment of Fuel Peat
April 21 2008 - 3:04PM
Marketwired
TORONTO, ONTARIO is pleased to announce the delivery of an
initial shipment of fuel peat pellets to the CANMET Energy
Technology Centre in Ottawa. This forms part of the Company's
ongoing commitments in its collaboration agreement with the Ontario
Centre for Excellence for Energy (OCE), and other partners, to
investigate the co-firing of peat with coal in power generation.
Other partners include Lakehead University and Ontario Power
Generation.
The fuel pellets were produced from peat harvested at the
Company's permitted site in western Newfoundland and then processed
by the Company's unique drying system which is being established in
a small-scale production facility in Stephenville. The initial
shipment consisted of 5 tonnes of fuel peat pellets at 30-35%
moisture content. The pellets have an energy value equivalent to
lignitic or subbituminous coal. The pellets will undergo pilot
scale trials at the CANMET laboratories to determine a full suite
of firing characteristics and chemical and physical parameters for
the fuel.
Under the OCE collaboration agreement, Peat Resources Limited
has a commitment to supply a further 500 tonnes of fuel peat
pellets from the Stephenville facility. These will be delivered to
Ontario Power Generation for a large-scale combustion trial and
stack test at the Atikokan Generating Station in northwestern
Ontario.
As reported previously, Peat Resources Limited has identified
large biomass resources of fuel-grade peat on its properties in
Ontario and Newfoundland. The northwestern Ontario peatlands,
centred on the town of Upsala on the Trans Canada Highway, about
130 km from Thunder Bay, contain over 200 million tonnes of
fuel-grade peat which is sufficient to supply the needs of Atikokan
and Thunder Bay generating stations for more than 20 years.
Peat Resources Limited was formed to explore, develop and
produce peat fuel, a biomass energy source, 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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