TransAct Energy Secures Zero-Emission EfW Technology

TransAct Energy Corp., San Antonio, has announced a joint development agreement (JDA) with Bruce Hutchon, Utopial Ltd. and Halfuel Ltd. The JDA brings the emissions-free energy-from-waste (EfW) technology to a subsidiary of TransAct, which will then develop a series of municipal scale plants using the emissions-free technology.

TransAct initially signed a letter of intent with Hutchon in late 2011, contemplating the formation of a partnership to fund, develop and grow the emissions free, EfW technology globally. In May 2012, TransAct and the owners of the EfW technology ( Hutchon, Utopial and Halfuel) signed a JDA to form a joint venture corporation (JVC). Over the past six months TransAct has developed a business plan for the venture and sought capital to fund the same.

With the announcement of TransAct's memorandum of understanding (MOU) for the initial $25 million financing, TransAct will proceed with the JDA. The JVC will be called TransAct Energy from Waste. The partially owned subsidiary will form the core of TransAct's EfW business.

"We put our heads down nine months ago and started the due diligence necessary to bring this new business to TransAct," says Rod Bartlett, TransAct's CEO and president. "What we have accomplished in setting this EfW technology up for its municipal debut is not only significant for TransAct, but for the future processing of all waste. There will no longer be any reason to burn or bury our garbage."