SAN JOSE, CA / ACCESSWIRE / March 23, 2017 / Pacific Green Technologies, Inc. ("PGT") (OTCQB: PGTK) is very pleased to confirm that following its successful installation and commencement of operation in January 2017 of the ENVI-Clean™ System on the 93MW power plant at the Yancheng Lianxin Steel Company the system has substantially exceeded the performance criteria of PGT's contractual obligations with POWERCHINA SPEM and the client.
The performance obligation is that the ENVI-Clean™ will reduce the plant's SO2 emissions to levels less than 35 mg/m3 and particulate levels to less than 5 mg/m3.
The system has gone far beyond this by consistently removing SO2 to levels with an average range of 6 to 7 mg/m3. Initial particulate records from the Continuous Emissions Monitoring System show emissions down to 1 mg/m3.
The ENVI-Clean™ System has been installed on the 93 MWe power plant at the Lianxin Steel Company's plant near the city of Yancheng in the Chinese province of Jiangsu by PGT as its first project through the Chinese Joint Venture with POWERCHINA SPEM.
PGT's engineering team has completed an operator training program and have handed over daily operations to the Lianxin Steel team who are now running the ENVI-Clean™ System on a full-time basis.
"We are very pleased that we have exceeded the expectations of both our client and Joint Venture partner (POWERCHINA SPEM) at this commercial installation. Based upon these results it is clear that our partnership now has the potential to establish the ENVI-Clean™ System as the market leader in the emissions control industry in China and throughout Asia," said Alex Shead, PGT's CEO for Asia.
PGT's CEO, Neil Carmichael added, "This is another big milestone for the PGT Group and it shows real team spirit working with our partners POWERCHINA SPEM to design, engineer and install the system and now its performance confirms the system's credibility in this market. We anticipate substantial growth as POWERCHINA SPEM use the Yancheng plant as a high quality reference in the China market."
About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world's need for cleaner and more sustainable energy. The company's strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting edge technologies designed to meet increasingly stringent environmental standards.
For more information, visit PGT's website:
www.pacificgreentechnologies.com
Contact:
Neil Carmichael, President and Director
Pacific Green Technologies
T: +1 (408) 538-3373
About POWERCHINA SPEM Co. Ltd.
POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC and owned by the Chinese Government. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGT technology throughout China.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that PGT's emission control system has significant potential to be a market leader in China.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, and the continuation of the JV with POWERCHINA SPEM resulting in definitive agreements. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE: Pacific Green Technologies, Inc.
ReleaseID: 457979
