CalciTech Ltd. (Plus Markets:CLK)(OTCBB:CLKTF)
announces that it has secured rights to a 1.5 million tonne waste carbide lime deposit located at Guardo in Northern Spain. This waste originates from the manufacture of carbide produced from local limestone and coal from the region for acetylene gas production, which was used to make PVC. This facility is now closed leaving an extensive waste deposit stored on open land adjacent to the river running through the town and is highly alkaline and classed as hazardous.
The waste lime will be converted into high quality Synthetic Calcium Carbonate for customers in the paper industry and finished product will be mainly for export. Although production may be feasible at Guardo, a production site near the port of Santander may be a more economic alternative. The production benchmark will be determined from the feasibility study now to be conducted.
Michael Watts, Marketing Director comments “This material will provide an excellent economic source of high quality SCC to meet paper industry specification with a strong positive environmental impact to the region.”
The Guardo Township would benefit from recovery of the land with the elimination of this polluting source of waste and the site can be returned to its natural state. The waste material use will allow the sequester of CO
emissions and permit carbon credits to be claimed. Potential employment will be created and CalciTech expects to receive state assistance to build this plant when the feasibility is successfully completed.
The directors of the company take responsibility for this announcement.
This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for production and obtaining appropriate permits.
It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission.