The company has announced today that its subsidiary Future Fuels, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTCBB: NSOL) in Washington, D.C., has formed a Strategic Alliance Agreement with Nuclear Solutions Inc. (OTCBB: NSOL) that will lead to both companies obtaining contracts for waste-to-ethanol facilities and the construction of FFI’s own $84 million waste-to-ethanol facility in Toms River.
Likewise, FFI has provided the Company with a Letter Of Intent regarding FFI’s purchase of a 100-ton-per-day Startech Plasma Converter System (PCS) for installation in Toms River’s first-of-its-kind Waste-to-Ethanol Plant scheduled for completion late 2007. Through its process, the Plasma Converted Gas (PCG)TM is created from the tires that will be destroyed safely and completely. The Plasma Converter will be attached to the front of the FFI system. In addition to including a series of additional Startech 100-ton-per-day modular Plasma Converter Systems at the Toms River Facility, PCG produced will also be piped directly into the FFI system to make fuel-grade ethanol.
According to Jack Young, President of FFI, “FFI welcomes the opportunity to partner with Startech in the conversion of abundant waste feedstocks into ethanol.
FFI provides the back-end catalytic process that converts a variety of waste products into syngas, while Startech provides the front-end technology for transforming waste products into syngas. Aside from ethanol, higher alcohol fuels and synthetic fuels like diesel, gasoline, and kerosene (jet fuel), FFI provides the back-end catalytic process.).”
“We are pleased to be partnering with Startech on this Strategic Alliance that will offer both companies an opportunity to enter the U.S. ethanol market, as well as expand to other markets like Europe, Asia, and South America where Startech has initiatives.
As Startech’s president, Joseph F. Longo said, “This partnership will help Startech penetrate the domestic and foreign markets and increase its sales.” Since the FFI press release announcing the Alliance on March 13, 2006, our Sales Representatives, Distributors, and potential customers in the U.S., Central America, Australia, Asia, and Europe have already expressed interest.
” We are particularly pleased to learn we will be a significant component of the new Toms River Ethanol Facility, which will cost $84 million.
” When added to gasoline, ethanol contributes to America’s energy independence and reduces emissions of greenhouse gases. It is a renewable fuel derived from material previously considered waste.
“At the front end of the Startech processing system, customers receive waste feed stocks and at the back end, they produce and sell the commercial products they produce. We have added FFI fuel-grade ethanol fuel to the many commodity products that can be made from PCG. Fuel-grade ethanol is 199 proof. Two hundred proof is 100% ethanol. Paint thinners, solvents, and so forth are typically 160 proof, and so on.
“It is very important to keep in mind that waste is an inexhaustible, renewable, and ever-recurring resource.”
About Future Fuels (FFI)
A subsidiary of Nuclear Solutions Inc., Future Fuels Inc. is converting low-end carbonaceous wastes into ethanol, a clean renewable fuel, by utilizing a proprietary technology and process. The company uses used tires, petro-waste, coal, wood waste, raw sewage, corn stalks, residential waste, industrial waste, and agricultural byproducts.
FFI’s preliminary tax-exempt bond financing of $84 million has been approved and officially adopted by the State of New Jersey, according to the New Jersey Economic Development Authority.
This tax-exempt bond will be used to build and start the first-of-its-kind waste to ethanol plant in Toms River, NJ that will produce 52 million gallons of ethanol per year. In order to secure the funds, FFI must obtain approval from the resolution before proceeding with bond ratings, underwriting, and placement.
Besides having secured pre-approvals for state and local environmental permits to operate the new facility, FFI has also signed a lease agreement to construct the facility in Toms River. In addition to having the feedstock on site, it also has a tire recycling network available for a complete life cycle of clean ethanol production.
The new waste-to-ethanol facility at FFI also has a 10-year contract with Eco-Energy, Inc., of Tennessee, under which Eco-Energy will purchase approximately 50 million gallons of ethanol produced each year. With ethanol being the largest share of the company’s business, Eco-Energy is one of the country’s largest marketing companies in the ethanol industry.
In the United States, FFI is exploring the possibility of building waste-to-ethanol plants in additional locations.
A commercial use of ethanol started in 1978, even though it has been used in motor fuels for more than a century. Congress adopted a public policy at that time in order to create fuel-grade ethanol and incentivize the production of ethanol from renewable sources by enacting an excise tax exemption. As a result, the industry grew from virtually zero production in 1978 to approximately 4 billion gallons in 2005. Beginning in 2006, the Energy Policy Act of 2005 requires refineries to add 700 million gallons of ethanol to their annual consumption per year, reaching 7.5 billion gallons by 2012.
Refiners reduced MTBE use as a clean air contributor, which contributed to ethanol’s increased use. Due to the potential for contamination of groundwater, MTBE was banned in New York and other states, including New Jersey, in 2008, which increased ethanol demand in the Northeast corridor. At present, ethanol is added to gasoline in a 10% blend. Several initiatives have been initiated by the automobile industry to increase the use of E-85 engines, which contain 85% ethanol. In response to the ongoing energy crisis, Congress is considering requiring that all gasoline sold in the United States contain ethanol.
In the past, corn crops were grown for ethanol production and then purchased at market prices, but FFI will produce fuel-grade ethanol from abundant waste products that it will receive for free. With the Plasma Converter included, FFI can even earn money for the waste feedstocks it uses to produce ethanol now.
It is important and growing to export fuel-grade ethanol worldwide.
About Startech – a Waste Industry and Energy Company
An innovative, proprietary plasma processing system known as the Plasma Converter SystemTM is the product of Startech Environmental, a Waste Industry and Energy company. Wastes of all hazards and lethal forms can be safely and economically destroyed using the Plasma Converter System, which makes them useful and valuable products. As a result, the System protects the environment and improves public health and safety.
Closed-loop elemental recycling is used by the System to destroy municipal solid waste, organic and inorganic wastes, solids, liquids, gases, hazardous and non-hazardous waste, industrial by-products, as well as “e-waste,” medical wastes, chemical industry wastes, and specialty wastes, converting many of them into useful commodities such as metals and Plasma Converted GasTM, a synthesis gas. Among PCG’s many commercial uses are the production of “green power”, alcohol fuels, and hydrogen for sale, among others.
Plasma Converters operate on the principle of converting wastes into valuable renewable resource feedstocks. Startech views all wastes, hazardous and non-hazardous, as valuable renewable resources.
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