Killick Capital Inc. Leads Investment In Plasco Energy Group
September 16th, 2005, St. John’s, Newfoundland/Ottawa, Ontario : Killick Capital Inc. (Killick) today announced a $4.5 million growth equity investment in Plasco Energy Group (Plasco), the world leader in the design and commercialization of plasma gasification technology applied to the generation of electricity by converting Municipal Solid Waste (MSW) to a synthetic gas. Investing alongside Killick are, The Rose Corporation (Rose) of Toronto, Ontario and Hera Holdings S.L. (Hera) of Barcelona, Spain for a total $7.3 million equity investment in Plasco.
Plasco Energy Group uses plasma generators to create extreme heat to convert waste into a synthetic gas, heat and an inert slag. It then uses the synthetic gas and heat in turbines or reciprocating engines to generate electricity. The slag can have many commercial uses – there is nothing that must be landfilled, and no air emissions in the gas production process.
Plasco Energy Group (formally RCL Plasma Inc.) was federally incorporated in 1973 to design, engineer, market and service industrial systems using plasma arc technology, using Plasco’s patented Plasma Gasification Process (PGP). A dedicated program has been carried on for more than three decades, supported by scientists of the National Research Council, commercial R&D activity and various government programs. The result is world leading technology and a depth of experience.
The Company’s patented technologies and its research and development facility near Barcelona, Spain, in cooperation with Spanish waste management firm Hera Holdings S.L., place Plasco's technology in the forefront of the limited field of plasma based process providers. The technology itself has moved into the final pre-commercial phase.
Hera has contracted for a 200 tonne per day Plasco Recovered Energy facility to be located near Barcelona, Spain. The first phase of this facility will process 85 tonnes per day of waste supplied by Hera, with the remaining 115 tonnes of capacity to be added following successful operation of Phase 1. The City of Ottawa is now considering providing a site and waste stream for a 75 tonnes per day plant to be built and operated for one year by Plasco at the City operated landfill site.
In making today’s announcement, Mark Dobbin, President of Killick Capital Inc., stated that “our investment in Plasco meets the criteria of Killick Capital, backing a strong entrepreneurial management team, investing in an industry with strong growth dynamics and high barriers to entry. We are extremely excited about partnering with the Plasco team to further the Company’s market leadership and accelerate its growth.”
Rod Bryden, CEO of Plasco Energy Group, welcomed the Killick led investment: "After decades of dedicated research and development Plasco now has a capacity to process MSW with pristine environmental results, while producing more than 1.25 mgwh of electricity for each tonne of waste. The urgent need to protect the environment from the impact of urban waste and the constant pressure on energy supplies makes this a technology whose time has come. The equity invested by the group led by Killick provides the fuel required by Plasco to move forward in seizing this opportunity,” Mr. Bryden said.
About Plasco Energy Group
Plasco Energy Group Inc. (Plasco) is a privately held Canadian company working in the alternative energy sector. It has evolved from RCL Plasma, Inc and uses plasma energy in high temperature converters to change/convert carbon based material into heat and a rich synthetic gas. This synthetic gas and heat are then used in combined cycle to power engines or turbines to deliver low-cost, clean electricity to communities. The Plasco process has no atmospheric emissions and the emissions from the power generating engines or turbines is equivalent to or better than emissions per unit of power produced using natural gas. Plasco uses MSW as the fuel to create the gas and heat which powers the generators to produce electricity – lessening dependence on fossil fuels and eliminating any requirement for disposal of residual from the waste, while bettering environmental standards and guidelines.
Plasco believes this to be an elegant contribution to the solution to two pressing problems – waste management and electric power.