DGAP-News: AsiaPac Capital Services Starts Construction of 500KW BioGas Project in Philippines
(firmenpresse) - Asiapac Capital Services Inc. / Product Launch
09.04.2010 17:08
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Toronto, Canada - (For immediate release) - April 9th, 2010
AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www
.asiapaccapital.ca), has begun construction of a biogas electrical
generation project to generate electricity using farm waste from 300 sows
and 200 cows, through its wholly owned subsidiary Asiapac Green Renewable
Energy Corp.
A biogas digester is under construction, whichwill generate methane gas to
be used to generate electricity to power the farm. The methane gas
generated will be used as fuel to run an electrical generator on site to
meet the electrical needs of the farm. Any excess electricity will be fed
back into the electrical grid.
Under the Build, Operateand Transfer (BOT) agreement, the farm will pay
AsiaPac approximately Php 200,000 per month (EUR3,300) for a period of 8
years, after which the farm will take ownership of the facility. This is
based on the farm's current monthly electricity costs. The power generator
will be rated for 500KW, withan estimated construction cost of
approximately EUR150,000 contrasted to roughly EUR300,000 in revenue during
the corresponding period.
In addition, AsiaPac will retain all revenues associated with carbon
credits for which the facility may be eligible.
Company President, Mr. Samuel Lee, advises;'Based upon the results, we may
look for additional similar projects throughout the Philippines. As our
investors may be aware, the Philippine government is anxious to reduce its
reliance on imported energy products, and become self-sufficient. This is
an excellent application of green technologythat has multiple benefits
socially, economically and from an environmental standpoint. Pollution
from animal waste, and importantly, emission of green house gases will be
significantly reduced, and the residual sediment from the biogas generation
will be suitable as fertilizer.'
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of AsiaPac Capital Services Ltd.'s plans, goals and expectations
regarding its future financial condition, performance, results, strategy
and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans',
'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will'
and variations of these words or similar expressions are intended to
identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or
other characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. Forward-looking
statements in this press release are not promises or guarantees of future
performance and are subject to risks and uncertainties that could cause
AsiaPac Capital Services Ltd.'s actual results to differ materially from
those anticipated. AsiaPac Capital Services Ltd. cautions the reader not to
place undue reliance upon any such forward-looking statements. These
forward-looking statements involve known and unknown risks as well as
uncertainties, including those discussed herein as well as the following:
(i) domestic and global economic and business conditions; (ii) market
related risks and the performance of financial markets generally; (iii) the
policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future
acquisitions or combinations within relevant industries; and (vi) changes
in capital, solvency or accounting standards as well as tax and other
relevant legislation or regulations in the jurisdictions in which AsiaPac
Capital Services Ltd. operates. The actual results that AsiaPac Capital
Services Ltd. achieves may differ materially from any forward-looking
statements which are based on management's beliefs and opinions at the time
the statements are made. AsiaPac Capital Services Ltd. does not undertake
any obligation to update forward-looking statements should circumstances or
management's beliefs or opinions change.
For further information please contact:
AsiaPac Capital Services Ltd.
Suite 3500
Hudson Bay Center
No. 2 Bloor Street East
Toronto ON
M4W 1A8
Email: info(at)asiapaccapital.ca
09.04.2010 17:08 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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