Nathaniel suspends Italian test of Thermal Combustor
What follows is a press release posted on Nathaniel Energy's website- Ed.
Englewood, Colo. Nov. 2, 2004) — Nathaniel Energy Corporation (OTC BB) a leader in renewable energy, announces the successful gasification of refuse derived fuel (RDF) in Italy, proving that its patented technology is successful and viable on a commercial level.
The Company successfully gasified and combusted RDF and produced over one megawatt of electricity with one of its Thermal Combustors in Cologna, Veneta, Italy.
Although the Company proved out its technology, the Company was unable to complete the functionality test process required under its contract to receive its first payment of $1,500,000 representing 50 percent of its total contract price.
Nathaniel Energy stopped the testing process to address the poor quality fuel being supplied by other contract parties that is and remains outside the specifications and densification requirements to successfully operate the Thermal Combustors.
We believe that it was necessary for the company to stop the testing process to protect equipment from damage and to discuss the contract issues surrounding the fuel specifications with the other contract parties. To date we are continuing a dialog with the other parties, but we have not come to a mutual understanding to address the contract issues. We have retained Sonnenschein Nath & Rosenthal LLP as special counsel to preserve the company's rights and remedies, and to protect our interests with respect to the contract
The one Thermal Combustor successfully gasifying waste in Italy proves that the company's technology is viable for commercialization on a wide scale level in the 5 – 50 Megawatt markets. Nathaniel Energy is currently focusing on its plan to market its technology to niche energy markets
“This is a major event for Nathaniel Energy, as the first of our next generation Thermal Combustors are successfully gasifying waste. I am extremely excited and optimistic with the future prospects for the technology. Nathaniel Energy is committed to providing reliable, clean energy solutions. The demand for our technology has been increasing and we are currently evaluating several project offers worldwide”, says George Cretecos, Chief Operating Officer of Nathaniel Energy.
“Witnessing the Thermal Combustor perform as it was designed and proving it on a commercial scale was one of the high points of my career. This technology will be in the forefront of the biomass conversion industry in the years to come. The performance of the technology was spectacular considering the circumstances in which it was started up and tested. I believe this was a real breakthrough for gasification and combustion technology”, says James G. Taylor, P.E. Senior Project Manager, Merrick & Company.
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