DGAP-News: AsiaPac Capital Services BioGas Project to Reduce Greenhouse Gas While Generating Electricity
30. April 2010 16:41
Asiapac Capital Services Inc. / Product Launch30.04.2010 16:41 Dissemination of a Corporate News, transmitted byDGAP - a company of EquityStory AG.The issuer / publisher is solely responsible for the content of this announcement.--------------------------------------------------Toronto, Canada - (For immediate release) - April 30, 2010AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP (www.asiapaccapital.ca), is pleased to advise that its subsidiary, AsiapacGreen Renewable Energy Corp. reports that construction of its first biogasproject in the Philippines is proceeding on schedule. Excavation for theanaerobic treatment tank is almost complete, and construction of the sidewalls is well under way.When complete, the treatment tank will process animal waste from 300 sowsand 200 cows. When operational, the project will divert greenhouse gasemissions from the animal waste and convert the captured methane intoelectrical power to run the farm.Methane is the second largest contributor to greenhouse gasses that can beattributed to man's activity. Importantly, methane gas is twenty times moreeffective than carbon dioxide at trapping heat in the atmosphere.Of the 300 million tons of methane that we generate each year, about onefourth is from domestic animals. The methane generated by the manurefermentation of five pigs is enough to cook three hot meals each day for anaverage family.Cow dung gas is 55-65% methane, 30-35% carbon dioxide, with some hydrogen,nitrogen and other traces. The manure produced by one cow in one year canbe converted to methane equivalent to over 50 gallons of gasoline. Thus,the methane harvested from the cow manure alone on this project will be inthe order of nearly 2.25 million cubic feet of natural gas a year or theequivalent of 10,000 gallons of gasoline.Additionally, the remaining sludge that will be treated by the processor isan excellent fertilizer. It will be practically odourless, entirely free ofharmful bacteria, and much richer in nitrogen than manure composted in anopen-air heap.Company President, Mr. Samuel Lee, advises; 'We are committed to bringingrenewable energy into the Philippine market, in line with governmentpolicy. This project, unlike our mini-hydro stations, has the addedbenefit of diverting greenhouse gas emissions while generating electricity.We anticipate that there will be significant excess electricity that can befed back into the national grid from this project, while at the same time,providing for all the electrical needs of our client.'Disclaimer & Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respectto certain of AsiaPac Capital Services Ltd.'s plans, goals and expectationsregarding its future financial condition, performance, results, strategyand objectives. Words such as 'anticipates', 'expects', 'intends', 'plans','believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will'and variations of these words or similar expressions are intended toidentify forward-looking statements. In addition, any statements that referto expectations, beliefs, plans, projections, objections, performance orother characterizations of future events or circumstances, including anyunderlying assumptions, are forward-looking statements. Forward-lookingstatements in this press release are not promises or guarantees of futureperformance and are subject to risks and uncertainties that could causeAsiaPac Capital Services Ltd.'s actual results to differ materially fromthose anticipated. AsiaPac Capital Services Ltd. cautions the reader not toplace undue reliance upon any such forward-looking statements. Theseforward-looking statements involve known and unknown risks as well asuncertainties, including those discussed herein as well as the following:(i) domestic and global economic and business conditions; (ii) marketrelated risks and the performance of financial markets generally; (iii) thepolicies and actions of regulatory authorities; (iv) the impact ofcompetitive factors; (v) risks and uncertainties associated with futureacquisitions or combinations within relevant industries; and (vi) changesin capital, solvency or accounting standards as well as tax and otherrelevant legislation or regulations in the jurisdictions in which AsiaPacCapital Services Ltd. operates. The actual results that AsiaPac CapitalServices Ltd. achieves may differ materially from any forward-lookingstatements which are based on management's beliefs and opinions at the timethe statements are made. AsiaPac Capital Services Ltd. does not undertakeany obligation to update forward-looking statements should circumstances ormanagement's beliefs or opinions change.For further information please contact: AsiaPac Capital Services Ltd.Suite 3500Hudson Bay CenterNo. 2 Bloor Street EastToronto ON M4W 1A8Email: info@asiapaccapital.ca investor@asiapaccapital.ca30.04.2010 16:41 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------
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