We are excited to announce this LOI for the proposed joint venture with Cake Energy
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Ponoma, CA (Vocus) October 20, 2009
General Environmental Management, Inc. (GEM) (OTCBB: GEVI) announced that it has signed a Letter of Intent (LOI) with Cake Energy, LLC, a privately held waste-to-energy technology company, to build and operate leading edge waste-to-energy (WTE) facilities in the Western United States.
"We are excited to announce this LOI for the proposed joint venture with Cake Energy," said GEM CEO Tim Koziol. "As previously announced, GEM has committed to entering the WTE market and we could not have found a better partner than Cake Energy. Their technology is truly unique and revolutionary in dealing with the growing problem of managing primary sewage waste, also known as sludge. A single Cake WTE plant can process up to 120 tons a day of sludge. Their process dries and atomizes wet sludge for use as the primary dry fuel for the ongoing drying, deodorizing and sterilizing of all toxins. Surplus fuel, produced from the drying process, is used as a high grade atomized fuel for alternate power generation. Additionally, 60% of the evaporated water can be recaptured for recycle. It is a truly remarkable technology."
Koziol continued, "The goal of this joint venture is for GEM and Cake to design, build, own and operate these proprietary sludge processing WTE plants. The anticipate revenue model is to charge municipalities a flat price per ton of waste processed as well as sell the excess energy generated from the process. We are currently working with Cake on several proposals for large metropolitan municipalities and hope to build the first WTE plant in the next 24 months."
Cake Energy CEO Peter Douglas commented, "The design engineers have devoted their energies over the past four years to ensure the technical specifications and performance of pilot projects deliver the outputs that have been predicted in the design specifications. The Chief Design Engineer and Inventor, Mr. Patrick Potter, has specialized in the design, installation and operation of many energy recuperation projects, specifically in the elimination of waste materials, throughout the UK and Australasia for more than 40 years. Additionally, Cake has worldwide patent applications for four of the critical process components, as well as the overall process."
Lisa Heinz, Director and Executive Vice President of Corporate Finance for Cake Energy, added, "The Heinz family has invested into this technology and we are very excited about the partnership and its environmentally friendly initiatives. We've evaluated countless technologies to deal with this seldom referenced but highly pertinent issue. In our search we found this waste-to-energy process superior to all others, offering a total solution to managing sewer waste while generating renewable energy."
About General Environmental Management, Inc.
General Environmental Management, Inc. (http://www.GeneralEnvironmental.com) is a full-service hazardous waste management and environmental services firm providing integrated environmental solutions managed through its proprietary web-based enterprise software, GEMWare, including the following service offering: management and transportation of waste; design and management of on-site waste treatment systems; management of large remediation projects; response to environmental incidents and spills; and environmental, health and safety compliance. Headquartered in Pomona, California, GEM operates five field service locations and one Treatment, Storage, Disposal facility (TSDF), servicing all markets in the Western U.S.
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About Cake Energy, LLC
Cake Energy, LLC (CAKE) is a Nevada corporation with a location in Irvine, California. Cake is a privately held company and is the exclusive owner of the worldwide intellectual rights to the Duplex Integrated Bio-solids Solution (DIBS) technology. The Chief Design Engineer and Inventor, Mr. Patrick Potter, C.Eng, MIMechE, MIMarE, MIPENZ MI Energy, Registered Engineer, provides technical and design development expertise and manages continuing research and development of the DIBS technology. Mr. Potter has more than 40 years experience in the design, installation and operation of many energy recuperation projects, specifically in the elimination of waste materials, throughout the UK and Australasia. The management of CAKE and its Joint Venture Partners comprise executives, mechanical, electrical and structural engineers, and waste treatment system engineers.
This press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or development that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual results to differ materially from those implied or expressed by the forward-looking statements. The Company assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.
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