PMFG, Inc. (Parent Of Peerless Mfg. Co.) Enters Into Manufacturing License Agreement With CEFCO Global Clean Energy, LLC
DALLAS, July 12, 2010 (GLOBE NEWSWIRE) -- PMFG, Inc. (the "Company") (Nasdaq:PMFG), The Company announced today that through its wholly-owned subsidiary, Peerless Mfg. Co., it has entered into the CEFCO Process Manufacturing License Agreement (the "License Agreement") with CEFCO Global Clean Energy, LLC, a Texas limited liability company ("CEFCO"). Pursuant to the License Agreement and subject to the terms and conditions set forth therein, the Company was granted exclusive manufacturing rights in the continental United States to manufacture equipment and process units incorporating CEFCO's aerodynamic reactor technology used in the selective capture and removal of NOx, SOx, CO2 and Hg, and the subsequent conversion of sequestered pollutants into high-grade end-products thru chemical conversion of pollutants in a re-circulating and re-generating system, which can then be commercially sold by the end-user operator (the "CEFCO Process").
Peter J. Burlage, Chief Executive Officer, stated, "We believe that our partnership with CEFCO presents an exciting opportunity for Peerless to continue to expand and develop our commitment to providing Safe, Efficient, and Clean energy solutions to our customers. By adding the CEFCO technology to our Environmental Systems product offering, we have the potential to greatly enhance our overall capabilities, especially in solid fuel applications. This initiative correlates with our overall strategic growth plans which include addressing other pollutants, as well as enabling Peerless customers to economically meet current and future environmental air regulations. The CEFCO Process provides the end-user operator with a unique opportunity to have effective air emissions controls and a potential revenue stream from the sale of the converted captured pollutants.
"Certain components in the CEFCO Process have been previously applied to clean pollutants from emission control applications used by the Department of Defense and the Department of Energy. Peerless has the engineering expertise, manufacturing capabilities and a long standing leadership position in the marketplace in environmental control systems to successfully manufacture and apply the CEFCO Process to other combustion processes and across numerous industries."
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