SOURCE: Harmonic Energy Inc.
LONDON--(Marketwire - Sep 11, 2012) - Harmonic Energy Inc. (OTCQB: ASUV) (ASUV: US) is a company focused on tire manufacturing and recycling, using an innovative approach to energy efficiency and sustainability. Harmonic is pleased to recap the company's recent milestones and update its shareholders as to the continued focus of its executive team.
MILESTONES AND HIGHLIGHTS FROM 2012
Building a World Class Team: Harmonic had found and appointed directors with relevant industrial tire carbonization and tire manufacturing experience and is committed to expanding the executive Team as they continue to advance the company and its projects.
Selection of Best-in-Class Technologies: The Company had chosen its technologies and selected the most reliable equipment designs and has begun reviewing project equipment layouts. Harmonic is currently in talks with potential EPC engineering contractors.
Acquired Exclusive Rights: The Company had acquired exclusive rights to the Kouei Technology which has been commercially successful and fully proven as a tire specific carbonization technology. The rights are for Europe and North America.
Completion of Feedstock Contract: The Company signed a 10 year contract for 7.5 million scrap tires a year.
Completion of a Private Placement: The Company had closed a $500,000 private placement.
The Company was also very pleased to be now listed on the S&P.
FOCUS AND GOALS FOR THE REMAINDER OF 2012 AND BEYOND
The Company's future plans include focusing on securing processing facility site locations and additional long term tire feedstock contracts. Some of the minimum requirements for the European processing facility will be WID compliance or have planning consent for the change of zoning and permits. Any potential site must allow truck traffic with a major highway near and/or have rail access on site. The company is currently reviewing potential processing locations in the United States.
Mr. Mann will continue focusing on trying to secure further mono fill tire feedstock contracts in both Europe and the United States. These tire depots will be ideally located with good transportation options to remove the tires from the site to the processing facility.
For more information on ASUV, please visit www.harmonicenergyinc.com
About Harmonic Energy Inc.
Harmonic Energy Inc. is a company that focuses on a comprehensive solution to the disposition of scrap tires worldwide. Harmonic plans include the utilization of proven technologies that ensure each scrap tire is either remanufactured and put back on the road as a new tire or is completely recycled and reduced into marketable chemical commodity products. Both the tire remanufacturing and carbonization technologies that will be utilized by Harmonic are commercially proven and have viable operating commercial facilities.
Harmonic plans to be the first company to integrate these two technologies to provide a comprehensive 'closed-loop' solution for the management of scrap tires. By design, Harmonic plans to offer a solution that replicates nature's intentions by developing symbiosis between waste, energy supply and sustainable growth.