MEDIA RELEASE 6 October 2006
EESTech and Chinese City of Fuxin plan to build power plant
Renewable energy and water purification specialist EESTech, Inc., (EESH.OB)
has signed a letter of intent with Liaoning Fuxin Coal Group and the Fuxin City
Government, Liaoning Province, China to build a 30 megawatt power plant.
EESTech, Inc. is a network member of the Methane to Market initiative, a United
States Environmental Protection Agency sponsored organization.
The intention of Fuxin City and EESTech is to use the Australian developed HCGT
technology to mitigate waste coal and methane in the production of electricity.
The project is supported by the National Reform and Development Commission of
When negotiations are completed EESTech, Inc. plans to build a HCGT power plant
and sell the electricity to the Liaoning Fuxin Coal Group through a twenty year
power purchase agreement. This agreement is expected to generate an estimated
income of over $200 USD million for the contract period.
ComEnergy Pty Ltd, an Australian Government Research Agency and Industry
partnership company, developed the Hybrid Coal and Gas Turbine (HCGT) and has
assigned EESTech the marketing rights to establish the required 30 megawatt
power generating capacity using the HCGT technology.
HCGT technology will significantly reduce the environmental impacts of coal
mining by lowering fugitive methane emissions from underground mines, reducing
acid run-off and gaseous emissions from waste coal stockpiles. At the same time
it will deliver potentially significant savings on power and waste coal
The US and Australian Federal Governments have signed a “Climate Action
Partnership” agreement with 18 member countries including China. Under this
agreement, the HCGT technology has been identified as one of seven technologies
that the partnership will collaborate to ensure the rapid uptake of this
technology into the market place.
The HCGT process involves burning gas, waste coal or biomass in a rotating kiln
to produce hot exhaust gases which in turn pass through a specially adapted heat
exchanger to produce steam which spins the turbine to produce electricity.
HCGT technology can use low quality energy sources, high sulphur and high ash
content coal, tailings, lignite, biomass or municipal waste as its fuel to
generate power and turn what is currently regarded as waste into electricity.
The third conference of the United Nations Framework Convention on Global Change
concluded that methane gas is one of the target greenhouse gases.
An outstanding asset of the HCGT technology is its ability to convert coal mine
methane into carbon dioxide and earn Green House Gas Abatement Credits, an
additional income source.
For contact details and further information please visit the EESTech, Inc.
Released on behalf of EESTech Inc., by Dennis Rutzou Public Relations (www.drpr.com.au).
For further information please contact Dennis Rutzou on (+612) 9413 4244
Forward Looking Statement:
This media release includes statements that may constitute ‘forward-looking’
statements. The statements can generally be identified by phrases such as
EESTech, Inc or its management ‘believes’ ‘forecasts’, ‘estimates’ or other
words or phrases of similar import. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Similarly, such statements herein that describe the Company’s business strategy,
outlook, objectives, plans, intentions or goals are forward-looking statements.
Forward-looking statements inherently involve risks and uncertainties that could
cause actual results to differ materially from forward-looking statements.
Factors which would cause or contribute to such differences include, but are not
limited to our ability to recruit and retain key personnel, the availability of
funding for future operating requirements, our ability to protect our
intellectual property, our ability to secure contracts for the installation of
our products and our ability to develop and operate such projects successfully.
We urge you to carefully consider these factors and the information detailing
other factors (which could cause actual results to differ materially) included
in EESTech, Inc.’s forms 10Q and 10K filed with the SEC. The forward-looking
statements are based on current expectations and neither the Company nor its
management assumes any obligation to update these statements.