LAS VEGAS, Oct. 10, 2001 — Malahat Energy Corp. announces that it has placed its first commercial M-500 BioFuelâ„- energy system.
An agreement signed with Van Den Bosch Trading Corporation, a mid-sized greenhouse grower in Chilliwack, B.C., Canada, provides this grower with a reliable, environmentally friendly source of energy at a fraction of the conventional energy supply cost. This agreement propels Malahat’s business into a revenue-generating status.
Recent increases in the price of conventional energy sources, such as electricity and natural gas, have caused enormous cost increases for greenhouse growers throughout North America. This announcement furthers management’s commitment to grow and mature the horticultural sector for future placements of its cost-cutting M-500 BioFuelâ„- “green-energy” product line. Spurred interest from this first placement at Van Den Bosch, initiated manufacturing for additional M-500s.
As Malahat moves into a commercial revenue status, Jo Yi Wei has joined the Company to coordinate this M-500 launch and the future production and supply within this targeted sector. Having worked with NOVA Gas Transmission Ltd., TransCanada PipeLines Ltd. and other energy companies, J.Y. Wei’s extensive acumen in project management and engineering operations will certainly contribute enormously to the on-going successes at Malahat.
Ben Dulley, Malahat’s President states: “Our management team views this first M-500 BioFuelâ„- system placement and energy agreement as a significant milestone for Malahat, the energy sector, the greenhouse growers and, of course, our shareholders. With a successful conversion from prototype to revenue, this begins a series of commitments from greenhouse growers in North America”.
Malahat Energy Corporation’s proprietary, patent pending biofuel system enables it to deliver lower cost power to high-energy consumption industries. The Malahat BioFuelâ„- system converts biomass waste to produce a green renewable fuel replacement for natural gas yielding thermal and electrical energy at a fraction of the prevailing market prices. Malahat’s M-500 gives a cost effective energy solution for the agricultural, horticultural and timber industries. Municipalities with abundant biodegradable waste resource for recycling can cut utility expenses as well as diminishing municipal waste when utilizing Malahat’s M-500.