SunSi Enters Into Definitive Agreement for 1.3 Megawatt Renewable Energy Project
(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY -- (Marketwire) -- 01/18/13 --
SunSi Energies Inc. ("SunSi") (OTCQB: SSIE), an international manufacturer, seller and distributor of energy products and solutions, today announced that it has entered into a definitive agreement to install up to four of its proprietary, modular Organic Rankine Cycle systems ("ORC units") at the Zibo Qilin Fushan Iron & Steel Company ("Qilin"). The definitive agreement finalizes the terms set forth in the Letter of Intent previously announced by the Company in late 2012. Qilin, a steel producing company that is located in the Shandong province of China, is the subsidiary of a $28 billion entity.
The ORC units will create significant value through the use of enhanced heat transfer techniques to maximize heat recovery and efficiently convert waste heat directly into renewable electrical energy. TransPacific Energy, Inc., a SunSi subsidiary, determined that the Qilin plant can host four ORC units and generate up to 1.3 Megawatts of incremental electrical energy, annually.
In the first phase of the project, SunSi will install two ORC units that will generate approximately 650 Kilowatts of supplemental electricity. SunSi will retain ownership of the ORC units and sell the supplemental electricity generated back to Qilin at a price discounted from the price they pay to their local utility company to purchase electricity. The first two ORC units are expected to generate at least $600,000 in revenue annually for SunSi, for a twenty year period. Upon successful completion of the first phase, SunSi at its discretion can install two additional ORC units also generating 650 Kilowatts of supplemental electricity.
Richard St-Julien, SunSi's Chairman, stated, "We are very pleased to enter into this agreement with a company as prestigious as Qilin. We are confident that the successful implementation of this project will offer a tremendous testimonial to the value of our technology. This is an excellent opportunity to provide a strong, annuitized revenue stream for our Company while simultaneously mitigating the greenhouse emissions generated at this particular location. We believe the compelling economics, new energy generation and environmentally beneficial results at Qilin will help showcase and demonstrate that our proprietary technology can generate comparable results at thousands of similarly configured locations throughout the world."
About SunSi Energies Inc.SunSi Energies is a global company whose products and solutions focus on renewable energy and improved energy efficiency. SunSi's subsidiary, TransPacific Energy, Inc. ("TPE") has patented a technology which uses proprietary multiple component fluids that are environmentally sound, non-toxic and non-flammable. Custom formulated mixtures efficiently capture and convert heat directly from the heat source at temperatures ranging from 80 degrees F to 1000 degrees F. TPE's technology offers applications at broader temperature ranges than other energy recovery systems. TPE's systems in certain applications reduce operating and maintenance costs thereby significantly improving return on capital expenditures thus making the purchase of waste heat recovery systems which previously yielded nominal savings, economically viable.
SunSi is the exclusive distributor in the U.S., Canada, and Mexico of Light Emitting Diode ("LED") commercial lighting products and fixtures for a premier LED manufacturer, Lightsky. An LED is a semiconductor device which converts electricity into light. The LED light is considered "green" because of the absence of dangerous chemicals and an accompanying significant reduction in energy consumption depending on the application, from 50% to 70% of traditional lighting products.
SunSi, is also a significant manufacturer and distributor of trichlorosilane ("TCS") in China. TCS is a specialty chemical primarily used in the production of polysilicon, which is an essential raw material in the production of solar cells for PV panels that convert sunlight to electricity. TCS is considered to be the first product in the solar PV value chain before polysilicon, and is also the principal source of ultrapure silicon in the semiconductor industry. For additional information regarding SunSi Energies Inc. or Transpacific Energy, Inc., please visit the companies' websites at www.sunsienergies.com, www.transpacenergy.com, www.lightsky-led.com or contact Richard St-Julien at (646) 205-0291.
Forward-Looking StatementsExcept for statements of historical fact, the matters discussed in this press release are forward-looking. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) SunSi's ability to obtain project financing to build the first two ORC units (ii) that SunSi's two ORC units will generate 650 kilowatts of supplemental electricity at a net value of $600,000, (iii) determination that there are thousands of other potential ORC sites with similar economics who could use the Company's ORC technology, and (iv) other factors detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at www.sec.gov.
ProActive Capital Resources Group, LLC
Source: SunSi Energies Inc.
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