Waste2Tricity (W2T) is pleased to announce international expansion with the launch of its wholly owned subsidiary Waste2Tricity International (Thailand) Ltd; and the opening of its offices in the Rajchathewi district of Bangkok.
W2T hopes to take advantage of the subsidies that exist in the Thai region and the natural opportunities that exist in its expanding economy that has inherent issues with waste management and a shortage of power.
Waste2Tricity International (Thailand) Ltd will be seeking a number of opportunities to deploy the Alter NRG Westinghouse plasma technology in multiple locations; and is in advanced discussions with several potential partners. There has also been substantial interest in the future deployment of the AFC Energy fuel cell which will significantly enhance return on capital employed.
Waste2Tricity International (Thailand) Ltd is headed up by Piangkwan (PK) Thummukgool, a graduate engineer from Leeds University and a Thai national with extensive knowledge of both the Westinghouse plasma system and AFC Energy fuel cells. W2T is currently in the process of raising pre-IPO funding of up to £1 million with the intention of an AIM listing later in 2013; subject to market conditions.
Peter Jones, Chairman of W2T says, “Thailand presents an excellent opportunity for the immediate deployment of the Alter NRG technology. This will be in conjunction with conventional power island technologies similar to the Air Products Tees Valley programme, which is currently being built in the UK. We liken the opportunities for development of this technology in the Thai market, as being at least on a par with the UK market. With the future prospect of the AFC Energy fuel cell technology achieving commercial roll out by 2016, the prospects for investors in Waste2Tricity are very exciting.”
Waste2Tricity is a structured solutions provider for the waste to energy sector. Its shareholders include Ervington Investments (UBO Roman Abramovich), Age of Reason Foundation and Eturab, all of whom are substantial shareholders in AFC Energy and/or Alter NRG Westinghouse and represent approx. 30% of each company. For more information, visit Waste2Tricity at www.waste2tricity.com