Nass Valley Gateway acquires global License for manufacturing and
distributing a unique and patented Energy Conversion and Disposal Technology
VANCOUVER, Nov. 16 /CNW/ - NASS VALLEY GATEWAY LTD, (the “Company” or “Nass Valley”) , is pleased to announce that it has entered into a Technology Acquisition Agreement (the “TAA”) with the Inventor and Patent Owner of a unique patented pyrolysis process for the granting of an interim License to its subsidiary company Global Environomic Systems Corp.(“Environomic”). The Interim License provides Environomic with the global rights to manufacture and distribute Energy Conversion machines, (“Env-X Production Units”) worldwide with the exception of China. Under the TAA the Company has to issue 36% of Environomic’s outstanding shares to the inventor and invest two million US Dollars over a period of 12 months (the “Exercise Period”) which will earn Environomic a 60% interest in new factory to be set up in order to produce the Env-X Production Units. After fulfilling its obligations during the Exercise period, the Interim License will revert into a permanent unrestricted License for Environomic, and Nass Valley will have to issue to the inventor two million common shares in stages over a period of three years.
The Company’s “Environomic System” is a leading edge pyrolysis Energy Conversion and Waste Disposal Technology to convert organic waste to fuel oil and other valuable by-products such as carbon black, activated carbon and fertilizers. It is uniquely designed to answer the challenges of waste management of municipal solid waste, and petrochemical compounds while providing quality recycled-content products and usable forms of power. This revolutionary green technology reduces CO2 emissions and sequesters the carbon. It combines the thermal pyrolysis, steam pyrolysis, fast pyrolysis, and a patented two stage process into one system, incorporating the best attributes of all these processes.
Nass Valley has completed its due diligence including its negotiations for future investments and certain international participation in overseas distribution of its Env-X Production Units. In North America the Company will operate directly with other enterprises and/or communities the Env-X Production Units on a joint venture basis and will set up an effective operating and distribution team for the Bio-Fuel and the other products derived from the Env-X Production Units.
Mr. Mel Stevens, President and Mr. Dieter Peter, Chairman and CEO stated “After our commitment to an environmentally responsible Energy Conversion and Disposal Technology and investigating several systems within this market segment we are thrilled about this exciting technology and the opportunity it will provide for our Company, especially that we were able to offer a real cutting edge waste management solution to our environmental challenges, affordable and perfectly suitable for small communities. In addition to its contribution to environmentally responsible waste management, Nass Valley will also be positioned to generate revenues and sustainable employment through the pursuit of its business and extension of its joint venture activities”.
ABOUT NASS VALLEY GATEWAY LTD.
Nass Valley Gateway is exploring industrial minerals and precious metals through its wholly owned subsidiary Greenville Precious Metal Ltd and developing, marketing and establishing its environmentally responsible Energy Converting and Waste Disposal Technology through its subsidiary Global Environomic Systems Corp. The Company and its subsidiaries are devoted to building value for their shareholders and employees, contributing to the improvement of the communities in which they operate through employment creation, and implementing sustainable practices designed to preserve and enhance our environment.
The CNSX has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
For further information:
Mel Stevens President Telephone: (250) 621-3286 |
Dieter Peter Chairman & CEO Telephone: (604) 685-4170 |
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