General Environmental Management Announces LOI with Cake Energy - The Heinz Family Has Invested into This Technology…
19 October 2009 - 9:00PM
Business Wire
General Environmental Management, Inc. (GEM) (OTCBB: GEVI)
announced that it has signed a Letter of Intent (LOI) with Cake
Energy, LLC, a privately held waste-to-energy technology company,
to build and operate leading-edge waste-to-energy (WTE) facilities
in the Western United States.
“We are excited to announce this LOI for the proposed joint
venture with Cake Energy,” said GEM CEO Tim Koziol. “As previously
announced, GEM has committed to entering the WTE market and we
could not have found a better partner than Cake Energy. Their
technology is truly unique and revolutionary in dealing with the
growing problem of managing primary sewage waste, also known as
sludge. A single Cake WTE plant can process up to 120 tons a day of
sludge. Their process dries and atomizes wet sludge for use as the
primary dry fuel for the ongoing drying, deodorizing and
sterilizing of all toxins. Surplus fuel, produced from the drying
process, is used as a high grade atomized fuel for alternate power
generation. Additionally, 60% of the evaporated water can be
recaptured for recycle. It is a truly remarkable technology.”
Koziol continued, “The goal of this joint venture is for GEM and
Cake to design, build, own and operate these proprietary sludge
processing WTE plants. The anticipated revenue model is to charge
municipalities a flat price per ton of waste processed as well as
sell the excess energy generated from the process. We are currently
working with Cake on several proposals for large metropolitan
municipalities and hope to build the first WTE plant in the next 24
months.”
Cake Energy CEO Peter Douglas commented, “The design engineers
have devoted their energies over the past four years to ensure the
technical specifications and performance of pilot projects deliver
the outputs that have been predicted in the design specifications.
The Chief Design Engineer and Inventor, Mr. Patrick Potter, has
specialized in the design, installation and operation of many
energy recuperation projects, specifically in the elimination of
waste materials, throughout the UK and Australasia for more than 40
years. Additionally, Cake has worldwide patent applications for
four of the critical process components, as well as the overall
process.”
Lisa Heinz, Director and Executive Vice President of Corporate
Finance for Cake Energy, added, “The Heinz family has invested into
this technology and we are very excited about the partnership and
its environmentally friendly initiatives. We’ve evaluated countless
technologies to deal with this seldom referenced but highly
pertinent issue. In our search we found this waste-to-energy
process superior to all others, offering a total solution to
managing sewer waste while generating renewable energy.”
About General Environmental Management, Inc.
General Environmental Management, Inc.
(www.GeneralEnvironmental.com) is a full-service hazardous waste
management and environmental services firm providing integrated
environmental solutions managed through its proprietary web-based
enterprise software, GEMWare, including the following service
offering: management and transportation of waste; design and
management of on-site waste treatment systems; management of large
remediation projects; response to environmental incidents and
spills; and environmental, health and safety compliance.
Headquartered in Pomona, California, GEM operates five field
service locations and one Treatment, Storage, Disposal facility
(TSDF), servicing all markets in the Western U.S.
Send an email to investors@go-gem.com if you are interested in
GEVI and would like to have a reminder email about the GEVI
Earnings Conference Call on Monday, November 16. We would like to
add your email to the GEVI database and will send you a
reminder.
About Cake Energy, LLC
Cake Energy, LLC (CAKE) is a Nevada corporation with a location
in Irvine, California. Cake is a privately held company and is the
exclusive owner of the worldwide intellectual rights to the Duplex
Integrated Bio-solids Solution (DIBS) technology. The Chief Design
Engineer and Inventor, Mr. Patrick Potter, C.Eng, MIMechE, MIMarE,
MIPENZ MI Energy, Registered Engineer, provides technical and
design development expertise and manages continuing research and
development of the DIBS technology. Mr. Potter has more than 40
years experience in the design, installation and operation of many
energy recuperation projects, specifically in the elimination of
waste materials, throughout the UK and Australasia. The management
of CAKE and its Joint Venture Partners comprise executives,
mechanical, electrical and structural engineers, and waste
treatment system engineers.
FORWARD-LOOKING STATEMENTS
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this press release that address activities, events or
development that the company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause the Company's actual results to differ materially
from those implied or expressed by the forward-looking statements.
The Company assumes no duty whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
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