International Power Group Makes Announcement
International Power Group, Ltd. (Pink Sheets: IPWG) and GiraSolar B.V. are pleased to announce that they have entered into an agreement. IPWG will acquire an affiliate company specifically geared to handle the large contracts IPWG is anticipating in the solar industry.
Peter Toscano, CEO of IPWG commented, “I am very proud to be working with Wieland Koonstra and his solar groups who understand the unique position of IPWG as a result of its tremendous inroads in the alternative energy sectors.”
As such the company’s felt the original Letter of Intent to acquire GiraSolar B.V. was outside the anticipated enormous purvue of IPWG and therefore by mutual consent allowed the Letter of Intent to expire without liability for either company, while working on an alternative, offering equal opportunities and benefits to both companies.
Wieland Koonstra, CEO of GiraSolar B.V. stated, “It is clear that GS revenue does not significantly contribute to IPWG when GS would be fully integrated.” He further commented, “We are very proud to be part of the expansion of IPWG into solar, introducing a part of IPWG’s WTE technology to work in this industry. Peter Toscano is a driving force behind this cross fertilization. The utility scale solar projects that IPWG is able to entaminate are currently being studied by GS engineers and are anticipated to offer an immense potential to generate electric power at fairly competitive prices. With the possibility to establish utility scale solar plants — not requiring scarce silicon while delivering power to the grid at competitive price levels — this industry will take an enormous leap forward.”
Peter Toscano commented, “This agreement to establish a joint company will yield both IPWG and GS the same benefits in operations and project management as would have been derived from an acquisition of GS, but it reduces costs on both sides and allows for mutual as well as independent development, best suited for the occasion in this fast developing solar industry.”
About International Power Group, Ltd:
International Power Group (IPWG) is a waste to energy company operating a proprietary technology that not only handles waste management in a more environmentally friendly manner, but also converts the energy generated from the process into meaningful amounts of cost effective electricity. Substantial amounts of purified drinking water can also be extracted from the process.
The Company will be contracting with governments to secure tipping fees for the removal of waste and will be processing the materials in company owned and operated plants. The Company will build these plants – estimated at $250 million each – in areas that can benefit from the electricity and water production by-products of the process.
The Company’s revenue streams include the tipping fees, fees for electricity, and fees for purified water. The Company will not be paying to receive the waste and will have costs limited to plant construction and operation only.
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