http://www.digitaljournal.com/pr/1000094
Alter NRG announces USD$1.0 million torch order sale of Westinghouse Plasma torches for industrial furnace applications in China
Canada NewsWire
CALGARY, Jan. 7, 2013
TSX – NRG
OTCQX – ANRGF
CALGARY, Jan. 7, 2013 /CNW/ – (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. (“Alter NRG” or the “Company”) announces that it has signed a contract to deliver 4 of its Marc 3 Westinghouse Plasma torch systems for approximately USD$1 million. A 40% deposit has been received and the torches are expected to begin assembly immediately with final delivery in the first quarter of 2013. The initial order is part of a larger master agreement valued at approximately USD$12 million with additional orders expected in 2013.
Beijing Huanyu Guanchuan Plasma Technology Ltd. (GuanChuan) is using the torches for their industrial furnace applications related to the steel and iron industry in China. The application is focused on the retrofit of ferrous alloy furnaces to utilize plasma power as opposed to the conventional fossil fuels and electrodes currently used for heating. Through the use of plasma, the new furnace system will both improve economic efficiencies and environmental emissions of the steel manufacturing facilities in China.
According to Mr. Huang Geng, Chief Technology Officer of Guanchuan, “WPC is a proven leader in its field in plasma gasification and the plasma torch system. Their systems have been proven commercially and represent significant market potential for the industrial furnace retrofits in China. China is the world’s largest steel producer and this application of Westinghouse Plasma torches will be used to reduce the overall emissions profile and operating costs in the steel facilities.”
Walt Howard, CEO of Alter NRG believes that “the plasma torch market is a promising opportunity for our Company as customers look to reduce their cost structure and carbon footprint. The plasma torch sales have a much shorter sales cycle without the regulatory hurdles of a full energy facility, as well as being a mature product offering with significant commercial history. We have been working with this specific customer over the past 3 years and believe that this order is the first of multiple orders penetrating this large segment.”
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