EAWC Technologies Signs Revised Agreement to Build Waste to Energy Plants in Mexico
EAWC Technologies (OTC: EAWD) (also known as Eurosport Active World Corp) announces it has signed a revised Agreement with Mexican Company, Tecnologias Verdes SA de CV, to build its innovative Waste to Energy (WtE) plants in Mexico. The revised Agreement, originally signed in March 2015, extends and expands its plans to construct a WtE power plant in Chiapas, Mexico; the first of five planned for this area of the country. Each plant is expected to deliver 50 - 125 Mw/hour with all five scheduled to active no later than 2020.
Mexico's energy sector had been under strict governmental management since 1938. This changed in 2013 and 2014 when Mexico amended its constitution and passed enabling legislation overhauling its energy sector to allow private and foreign investment. EAWC plans to finance construction of its WtE projects through the placement of bonds secured by energy contracts.
Orders for the five WtE plants are expected to provide over $300 million in equipment sales alone, and related royalties for use of EAWC licensed technology would provide about $90 million in fees annually beginning in 2019 for the next 15 years. EAWC is also expected to generate revenue from the supply of gas to the power plans.
About EAWC Technologies:
EAWC Technologies operates under the public company Eurosport Active World Corp, a Florida Corporation. To meet ever-increasing worldwide demand for water and energy, EAWC endeavors to make available environmentally-friendly and sustainable methods of producing and purifying water, in addition to the generation of energy through its Waste-to-Energy technologies. Towards these ends, it has acquired the relevant licenses that give it the right to sell and produce the associated technologies while ensuring, through its partnership with Swiss Water Tech R&D, the provision of related services including research & development, technical maintenance, education and training.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at https:www.sec.gov