GreenWave Bio LTD
Greenwave Bio LTD: Greenwave Bio (Ghana) Limited announces 25 year concession of 1,000 tons per day for Waste to Energy Plant in Ghana
Greenwave Bio LTD / Key word(s): Miscellaneous Greenwave Bio (Ghana) Limited announces 25 year concession of 1,000 tons per day for Waste to Energy Plant in Ghana Accra, Ghana, November 12th 2012. After 6 months of discussions with Greenwave Bio Limited and its subsidiary Greenwave Bio (Ghana) Limited, the Ministry of Local Government and Rural Development Ghana agreed to grant to the company a concession to guarantee the supply of waste matter in the Kpone dump/landfill in the Tema Metropolitan Authority. The Tema Metropolitan Authority, GA East Municipality, GA South Municipality and Ministry of Local Government and Rural Development of Ghana agreed to give unfettered access to the sites for the disposal of waste matter utilizing Greenwave Bio’s disposal technology for a period of twenty five (25) years and to process up to 1,000 tons of waste per day per site. The Government agreed to authorize and grant to the Company all necessary approvals to set-up the Company’s plants in these areas when requested by the Company. – As part of the concession, the company has agreed to hire local pickers and labor to assist in sorting and running of the collection for the plant; and – The Company will share in revenue from the sale of biodiesel 10% of net profits to the local municipality ‘We are very excited about the 25 year concession we have been granted for 1,000 tons of waste conversion per day, which equates to over $100 million estimated in biodiesel production per annum at full capacity, with a 7 year tax holiday for waste disposal utilizing green technology such as ours, this is a multibillion dollar opportunity for our company and stakeholders. This is also an opportunity to give back to the local community, and reduce waste while utilizing green fuel. ‘ Says Neels Blignaut, Greenwave Bio Limited CEO Greenwave Bio (Ghana) Limited intends on offering investment as a subsidiary company to professional and institutional investors to take ‘project interest’ in the development of the plant. About Greenwave Bio Limited About Greenwave Bio (Ghana) Limited Disclaimer: End of Corporate News 12.11.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
192609 12.11.2012 |