Startech Environmental Responds To Proposed Tender Offer Announcement
In its letter, Startech invited Friendly LRL to consider an equity investment in the Company that would afford a value opportunity to Friendly LRL, while at the same time allowing Startech’s public shareholders to participate in what the board believes to be the Company’s upside potential.
The Startech board of directors intends to carefully review any tender offer materials that Friendly LRL may disseminate, when and if they become available. The board will then communicate to shareholders its position on a Friendly LRL tender offer as required by law. Until that time, shareholders are urged not to take any action with respect to a tender offer by Friendly LRL, if it is commenced.
JF Longo, Startech president said, “The average Share Closing Price during the past five years has been
About Startech — The Environment and Energy Company
Startech is the internationally recognized, Award-winning, Environment and Energy Industry Company producing and selling of its innovative, proprietary plasma processing equipment known as the Plasma Converter System(TM).
The Plasma Converter System safely and economically destroys wastes, no matter how hazardous or lethal, and turns most into useful and valuable products. In doing so, the System protects the environment and helps to improve the Public Health and Safety. The System achieves closed-loop elemental recycling to safely and irreversibly destroy urban waste, organics and inorganics, solids, liquids and gases, hazardous and non-hazardous waste, industrial by-products and also items such as electronics-waste (e-waste), medical waste, chemical industry waste and other specialty wastes, while converting many of them into useful commodity products that can include silicates, metals and a synthesis-gas called Plasma Converted Gas (PCG)(TM).
Among the many commercial uses for PCG, is its use to produce “Carbonless Electric Power” from Startech Hydrogen, Gas-To-Liquid (GTL) fuels such as ethanol, synthetic diesel fuel and other higher alcohol “alternative” fuels. Startech Hydrogen, for commercial use and sale, can also be recovered from the PCG.
The Startech Plasma Converter is essentially a manufacturing system producing valuable commodity products from feedstock-materials that were previously regarded as wastes.
Startech regards all wastes, hazardous and non-hazardous, as valuable renewable resources and as feedstocks.
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the development and commercialization of its Plasma Converter(TM) technology. All forward-looking statements are subject to risk and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, failure of the customer to obtain appropriate financing for the project, general risks associated with product development, manufacturing, rapid technological change and competition as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.
SOURCE Startech Environmental Corp.