Carbon Jungle's Subsidiary Cobal-USA Alternative Fuels Receives Agreement to Convert 1000 Tons Per Day of Municipal Solid Waste into Alternative Fuels and a LOI from Mayor in Uganda, Africa.
8:46 ET August 27, 2008 (Business Wire)
Newport Beach, CA. -(BUSINESS WIRE)—Carbon Jungle, Inc. (Pink Sheets: CBJG.pk - News) announced today that its wholly owned subsidiary waste-to-fuel company, Cobal-USA Alternative Fuels, LLC, received a Pre-Agreement from Dag & Bragan Ltd. for processing 1000 Tons per day of MSW (Municipal Solid Waste) accompanied with a letter of interest from the Mayor of Kampala City in Uganda, Africa.
In order to process this waste, Cobal USA will form a joint venture with W2 Energy, Inc. (www.w2energy.com) to build and operate this waste-to-energy plant. W2 Energy will build a plasma reactor and gas-to-liquid conversion system which will convert the 1000 tons per day of MSW into 52,000 gallons daily of Ultra Low Sulfur Diesel and 50 MWh continuous of clean electricity. The project estimated sales may exceed $82 million per year.
Jorge Reyes, Director of Research and Development and one of the founders of Cobal-USA, stated, "This is a great opportunity for both Cobal and W2 Energy. Cobal is extending the reach of our waste-to-energy development work, and W2 Energy is extending the global reach of its technology. It's a win/win," says Mr. Reyes. "This project will create new jobs, increase the local economy, giving a complete and final solution for the MSW while producing clean fuel and energy."
Petr Lisa, President of Cobal-USA, Inc., stated, "This agreement in Africa is a direct result of Carbon Jungle's international presence and further solidifies the decision to be acquired by Carbon Jungle." Mr. Lisa later stated, "If Kampala City, Uganda can convert waste-to-energy with the help of Cobal-USA, it is a wake up call for the rest of the World to match the African's efforts and there is no doubt that Carbon Jungle's marketing efforts will help us acquire more customers."
Mike McLaren, CEO of W2 Energy, stated, "This is such an exciting project. Cobal-USA not only sees the future, they are helping to create the future. W2 Energy's cutting-edge technologies fit perfectly with the development expertise of Cobal-USA."
About Carbon Jungle, Inc.
Carbon Jungle, Inc.(beta site www.carbonjungle.cobal-usa.com) (www.carbonjungle.com) is a California-based company quoted on the Pink Sheets: CBJG.PK. Carbon Jungle's mission is to help relieve the stresses that the human race has placed on its global ecosystem. The company owns land in Cambodia used to plant hundreds of thousands of CO2 absorbing Teak Trees, and has invested in the spiritual docudrama Feature Film "Living Luminaries" www.LivingLuminaries.tv.
About Cobal-USA Alternative Fuels a wholly owned subsidiary of Carbon Jungle
Cobal-USA (www.cobal-usa.com) develops waste-to-fuel projects converting materials such as MSW("municipal solid waste"), waste coal (culm), coal, anthrocyte, scrap tires, biomass, dried sludge, and other carbon based non-metal and silicate materials into synthetic diesel or electricity.
About W2 Energy Inc.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Exchange Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: Carbon Jungle, Inc.
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