OCTOBER 2010
                                        

Novo Energies acquires rights to new hybrid gasification technology

Novo Energies Corporation, an alternative energy company, announced that it has entered into a Technology Collaboration Agreement with Colorado based Precision Pipe and Vessel, LLC.

Novo Energies has been granted a worldwide exclusive license to use Precision’s proprietary gasification technology to convert plastic and tire waste into energy products including electricity, synthesis gases and other valuable commodities such as recovered steel.

Novo and Precision have agreed to collaborate to enhance and augment Precision’s existing operating pilot plant in Colorado, at which time Novo will seek multiple facilities in the United States and oversee the development of energy projects outside of North America through its partner, Novo Energies International, Ltd.

Antonio Treminio, CEO and chairman of Novo Energies, stated, “In our search for the most efficient and economical methods to convert plastic and used tires into valuable energy products, we have spent the last 12 months evaluating several technologies, including pyrolysis, gasification and microwave based systems. As a result of such efforts, we have selected Precision’s gasification technology based on the following:

  • Allows efficient conversion of tires and plastic feedstock to energy.
  • Environmentally friendly – the process produces zero toxic emissions, making it a green energy technology.
  • The preliminary synthesis gas resulting from conversion of tires and plastic meets strict standards on quality and consistency.
  • Has the highest carbon conversion of any known gasification system on the market.
  • Self sufficient by using the produced syngas to power the process.
  • Low cost of production.

Novo plans to demonstrate the pilot facility in Denver, Colorado, as a showcase unit for government officials, institutions, utility companies and the investment community, as well as augment its output to reach fully commercial quantities.