|
|
Vista International Inc. Announces
Waste to Energy Project in Bulgaria
ENGLEWOOD, Colo., March 17 /PRNewswire-FirstCall/
-- Vista International Technologies, Inc. (OTC BB: VVIT), is
pleased to provide investors with an update on the execution of its
global development strategy in southeastern Europe. Vista International
Inc., the parent company of VVIT has been working to expand its reach
into SE Europe over the past year and has chosen Bulgaria as the
location for its first project in the region. Vista International and
VVIT, working closely with ID Global Capital, a Vista partner in
southern Europe, are pleased to announce that the municipal government
of Kostinbrod, Bulgaria has initiated the process of establishing a
waste to energy project in this city just outside the Bulgarian capital
of Sofia.
The project will be a public/private joint venture between Vista
International, Inc., ID Global Capital, and the city of Kostinbrod,
Bulgaria. The facility will utilize VVIT's Thermal Gasifier technology
which has met EPA and EU emissions standards, to handle over 70,000 tons
per year of municipal solid waste, with the capability to handle other
waste streams as well. ID Global Capital has secured the rights to the
project and is now focusing on finalizing the exact site location. Vista
International estimates the investment into this project could be in the
range of approximately $35-50 Million USD. The investment amount will
depend on a number of factors, including the volume of MSW, any other
waste that might come to the project, and whether the desired end
product of the gasification process is electrical power and/or a high
octane liquid fuel product. Early estimates put the revenues from this
project at $10-15 million per year, and with timely regulatory approval
the project can be operational within 24 months.
Barry Kemble, CEO of Vista International Technologies Inc. commented,
'Our foray into the European market is a perfect example of the public
and private sector working together to address and maximize waste issues
effecting the regional and global environment. We have made our initial
project in Bulgaria the focal point of our European operations. As such,
we fully expect our Thermal Gasifier Technology will showcase VVIT's
abilities into additional markets within Vista's European development
zone.' Mr. Kemble continued, 'As we have seen in various other projects,
we expect this venture will also help spur economic development in the
region, and will further enhance our promise of reducing the carbon
footprint, one step at a time.'
ABOUT VISTA INTERNATIONAL TECHNOLOGIES
Vista International Technologies, Inc. is presently comprised of two
divisions devoted to providing environmentally friendly technology
solutions for businesses and communities. Our divisions are focused in
the areas of Waste-to-Energy. For more information on our solutions,
please visit us at
http://www.viti.us.com
'Reducing the carbon footprint, one step at a
time.'
Statements in this press release other than
historical facts are 'forward-looking' statements within the meaning of
section 27A of the Securities Act of 1933, section 21E of the Securities
Exchange Act of 1934. Since these statements involve risks and
uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results. Future
operating results of the Company are impossible to predict and no
representation, guaranty, or warranty is to be inferred from those
forward-looking statements. Readers are advised to review the
'forward-looking statements' included in our reports which are filed
with the Securities and Exchange Commission.
SOURCE Vista International Technologies, Inc.
Source: PR Newswire (March 17, 2008 - 1:16 PM EDT)
News by QuoteMedia
www.quotemedia.com
|
 |
| |
|
