Wireless Age Looks At Renewable Energy Options In North America

Even as process is on to finalize the bankruptcy formalities of its core entities, the Wireless Age Communications Ltd and Wireless Source Distribution, the parent company, Wireless Age Communications recently announced that post its sale of the entire asset base in its subsidiaries, the company will look at acquiring specific rights to plasma gasification business options in North America.

The concept of plasma gasification is fairly new and slowly catching on. Plasma gas is a renewable source of energy and the process of gasification is based on a conversion technology that has a high energy yield with very low impact on the environment. The company has announced that it is negotiating the rights to this environment friendly process with another development company which has made some key long term outlays in several energy projects across the world. Its interests in the project has been made on a concentrated model and project design, covering such areas such as energy resurgence from the plasma enhanced gasification, revenue from sale of electricity in strategic power acquisition contracts and revenue potential from tipping fees.

The company has extrapolated the strategic financial repercussion of the decision to bid for the rights of the prestigious plasma gasification development project taking into consideration the long term income earning potential of the project via the power purchase contracts route and the possibility of long term feedstock or community solid waste contracts. The opposing party has already executed several developer undertakings for multi energy recovery capabilities in Canada and is currently following renewable energy development initiatives in the United States.

The CEO of Wireless Age, John G. Simmonds, said: “It is now time to start talking about the rebirth of the Company. The global financial crisis and the events forced upon us by our former business partners earlier this year have made negotiating a go-forward plan long, slow and arduous. However, we believe that we are far enough down the road to make some of our intentions public”. The company asserted its belief that renewable, new age energy options could be encouraged and given funding even in the light of the recent economic recession. The company plans to clearly identify these options and to put together a strong team of professionals to once again propel the company to its former robust trading position. The plans devised are all long term but the company hopes that eventually, their efforts will pay off and their remaining loyal shareholders would be rewarded ultimately.