PRESS RELEASE TSX - V: CNXAlternext : ALCNX
Government of Quebec to contribute $500 000 to Conporec’s Becancour Project
Sorel-Tracy, May 21, 2008 - Conporec Inc ("Conporec" or the "Company"), received today a confirmation of the Government of Quebec’s participation to the first phase of its project to install a Sources Separated Organics composting plant, currently under construction at its La Prade Environmental Park, in Bécancour (CA). Mr. Raymond Bachand, Minister of Economic Development, Innovation and Export (MDEIE) has confirmed a contribution of 500 000$ to the project via the “Programme de soutien aux projets économiques (PSPE)”. This governmental participation is a loan without interest refundable within the next eight years.
The project aims, in its first phase, to build an ultramodern 40 000 tons/year in-vessel composting facility using the patented Biomax/Conporec’s technology. Because this capacity is already attained through Conporec’s current contracts, the Company is currently working on the second phase of the project to increase the capacity to 80 000 tons/year. The project is part of Conporec’s plan to redevelop the old La Prade Industrial Facilities by implementing a series of complementary and leading-edge technologies in the waste recovery and renewable energy sectors.
"The Government’s contribution reinforces our capacity to carry out this project, and furthers the recognition of Conporec’s technological orientations. Along with that contribution, the province of Quebec will benefit from one of the most modern and effective organic recovery installation" declared Mr. Jean Beaudoin, president and CEO of Conporec.
Conporec inc. develops, owns and operates various patented technologies for the treatment and the recycling of residues into valuable resources and energy. The company successfully delivered or is in the process of completing plants in Canada, France, United States and Australia. Conporec is a socially responsible organization listed on the Toronto Stock Exchange (Venture) and the NYSE/Euronext in Paris (Alternext).30 -
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties or other factors that may cause actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
The TSX Venture Exchange has not approved the information contained herein and accepts no responsibility for it, nor the validity of the operation planned.
Source: Conporec inc. www.conporec.com
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