Attached files
Exhibit 99
ecoTECH Energy Prepares for Site Construction of
Eco-Industrial Complex in McBride, BC
and Receives $55 Million Debt Financing
Feb 22, 2012 (ACCESSWIRE-TNW via COMTEX) -- In preparation for what will be one
of the most advanced complexes of its type in North America, ecoTECH Energy
Group, Inc. (OTCBB:ECTH) has begun to clear the McBride, British Columbia
Lamming Mills site for its Aquaponics and Combined Heat and Power (CHP) facility
that is slated for construction this Spring. The Canadian Ministry of Forests
and Range has granted ecoTECH its Timber Mark Certificate and a local logging
company has been contracted to selectively cut enough trees to allow room for
the development, whilst retaining as many trees as possible on the site.
Only trees that must be cut for the complex will be cleared, with the larger,
high quality timber sold to generate revenue for ecoTECH. The smaller trees and
shrubs will be cleared and stockpiled at a later date to be used as the first
biomass fuel for the 5 Megawatt carbon-neutral CHP plant to be built on the
site. The CHP plant will provide the heat and electricity for the Aquaponics
facility which will grow "beyond organic" fruits, vegetables and fish for the
company's $61.3 million supply contract with Overwaitea Food Group Limited
Partnership (OWFG), a division of the multi-billion dollar Jim Pattison Group of
Companies. Product shipments are slated for the second quarter of 2013.
Taking "green" to the extreme, the facility will use the carbon dioxide gleaned
from the ecoPHASER exhaust to augment the transpiration effect of the 8 hectares
(approximately 20 acres) of oxygen-emitting plants which takes the facility from
being "carbon neutral" to having a "carbon negative" output.
Financing for the McBride project has been addressed through a non-dilutive debt
financing package from Corpfinance International Limited (CFI) to fund 60
percent, or CDN$55 Million. CFI is partially-owned by the Canada Life Assurance
Company, a wholly owned subsidiary of The Great-West Life Assurance Company.
Importantly, ecoTECH is receiving support from all directions, including CFI
(one of the largest capital pools in Canada), political support from the Village
of McBride, regulatory committees and organizations. The economic opportunities
involved with such a large, environmentally-friendly complex are unparalleled to
revitalize the area.
Green technologies are moving progressively into the mainstream as the U.S.
looks to wean itself off its dependence on foreign oil. Nothing could better
exemplify the support being received more than some of America's biggest brands,
including Nike (NYSE:NKE), Starbucks (NASDAQ:SBUX), Yahoo! (NASDAQ:YHOO) and
Staples (NASDAQ:SPLS) sending a letter last week to Congressional leaders urging
them to sign extensions for production tax credits for wind energy production.
Most of these major companies are now deriving a portion of their power from
green energy with initiatives for increases. Starbucks has a two-year goal to
derive 100 percent of its energy from renewables. OWFG is moving forward with
its own initiatives through its purchase agreement with ecoTECH. It would seem
only a matter of time before another household name seeks-out ecoTECH and its
pioneering products.
Government incentives and commercial consciousness are going to continue to
drive growth in the renewable energy space with ecoTECH positioning itself as an
industry leader with its CHP, Aquaponics and Garbage-to-Concrete (Gar-Crete)
technologies. As such, the company poses a value proposition at its current
price point of 50 cents with nearly $100 million in orders already on the books;
orders which are base-level and expandable. Revenue of at least $6 million is
expected in Q2 2012 from the delivery of the first of six Gar-Crete systems
ordered by Hospital Medical Express of Ecuador. The first CHP facility will be
under construction in a few months with the company intending to build five more
in coming years with the proprietary technology it has been developing for three
decades
