TransGlobal Assets, Inc. Funds $500,000 for Biomass Waste Project in Romania
March 24 2011 - 12:06PM
Marketwired
TransGlobal Assets, Inc. (OTCQB: TMSH) (OTCBB: TMSH) is pleased to announce
that it has provided $500,000 (USD) funding to its Joint Venture
partner, Helios Inc. of India, in order to commence construction on
the biomass waste pilot project to be conducted for the Romania
municipality of Acatari.
The patented "MSW-TO-ENERGY SYSTEM"
invented by Helios Inc. and manufactured by Helios Assembly of
India allows for a non-polluting, environmentally friendly
conversion of landfill waste, also known as Municipal Solid Waste
(MSW), into earth-friendly energy and inert ash residue for
concrete and various concrete products (see www.tmshglobal.com
shareholder meeting PowerPoint for more details).
The MSW waste-to-energy project will utilize a 250 kW portable
unit, the smallest of the series, to run a test for 1 to 4 weeks.
Romanian municipalities, including Acatari, have committed to
acquire and operate 10 units of either 1-megawatt or 5-megawatt
capacity. Officials from Hungary, Bulgaria, England and several
Middle Eastern countries have also expressed strong interest in the
Helios patented system and are expected to be monitoring the 250 kW
project.
The JV agreement provides for TransGlobal Assets to receive 50%
of revenues from the multiple revenue streams generated by the
system. This includes revenues from unit sales and monthly revenues
from the sale of electricity, carbon credits, and ash residue.
Potential revenues for Helios and TransGlobal Assets will be
determined by the size of the systems that the municipalities
ultimately select.
Estimated revenues from unit sales:
- (10) 1-megawatt units = $45,000,000
USD
- (10) 5-megawatt units = $180,000,000
USD
Estimated revenues from the sale of green power to the Romanian
public power company as well as from the sale of carbon credits are
delineated by unit capacity:
1-MEGAWATT:
- Green Certificate per MW = $60 x 3 Carbon Credits
- Electricity Sold = $ 60/MW (As per power purchase agreement by
Acatari City Council)
- $180 x 24 hours / day = $4,320 per day(green certificate)
- $60x 24 hours/day = $ 1,440 per day
- Total = $ 5,760 per day
- Days operational = 25 / estimated 25 per month
- $5,760 per day /25 days = $144,000 per month, per unit.
- Estimated Units = 10 x 1MW Units x $144,000 = $1,440,000 on the
sale of electricity per month
- $1,440,000 x 12 months = $17,280,000 USD per year Revenue
TOTAL ANNUAL = $17,280,000 USD
5-MEGAWATT:
- 5MW = $300 x 3 Carbon Credits
- Electricity Sold = $ 300/ 5MW (As per power purchase agreement
by Acatari City Council*)
- $1200 x 24 hours / day = $28,800 per day
- Days operational = 25 / estimated 25 per month
- $28,800 per day /25 days = $720,000 per month, per unit.
- Estimated Units = 10x 5MW Units x $720,000 = $7,200,000 on the
sale of electricity per month
- $7,200,000 x 12 months = $86,400,000 USD per year Revenue
TOTAL ANNUAL = $86,400,000 USD
Following the announcement of the JV agreement 3 months ago, the
Helios patented system has received four Letters of Intent to
purchase several units. To meet current demand, Helios and
TransGlobal Assets are ramping up their production to build (15)
1-megawatt units and (10) 5-megawatt units.
"This is an extremely exciting time for TransGlobal Assets and
Helios as we are just beginning to show the world that we mean
business -- big GREEN business," says Paul Thompson, Vice President
of Investor Relations. "There has been interest springing up all
over the continent for the Helios system, such as cities in Egypt
that need to dispose of medical waste in environmentally safe
fashion, which is a very large concern for them. This is just one
of many winning ventures in our business plan for which we are
announcing financing."
About TransGlobal Assets, Inc.:
TransGlobal Assets, Inc. is a rapidly evolving global holding
corporation strategically poised to build a multi-billion dollar
asset base within diverse industries around the world. The
Company's initial emphasis is on Renewable Energy Ventures, Resort
and Hospitality Properties, Senior-Related Services, Commercial
Real Estate, select Manufacturing, and beyond. To learn more about
TransGlobal Assets, Inc., please visit:
http://www.tmshglobal.com/
Safe Harbor Statement This news release contains
"forward-looking statements" as that term is defined in Section 21E
of the Securities Exchange Act of 1934. Statements in this press
release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or
achievements to differ materially from the anticipated results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this
release include statements regarding the Company's projections
regarding Biogas, PV Solar Energy, Wind Energy other alternative
energy explorations in future periods. Factors that could cause
actual results to differ materially from anticipated results
include risks and uncertainties such as: risks relating to PV Solar
Energy, Wind Energy other alternative energy development risks; the
risk of commodity price fluctuations; political and regulatory
risks; risks of obtaining required operating permits and other
risks such as weather conditions uncertainties. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
General Inquiries: Paul Thompson Vice President, Investor
Relations TransGlobal Assets, Inc. - USA pthompson@tmshglobal.com
Visit us on the web at: www.tmshglobal.com
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