SPOKANE, Wash., July 7, 2014 (GLOBE NEWSWIRE) -- MPM Technologies, Inc., ("MPM") (OTC:MPML) subsidiary Carbon Cycle Power ("CCP") has completed engineering/design review for its gasification technology and is moving into the construction phase of a demonstration unit with Spokane manufacturer Wheeler Industries, Inc. CCP's waste-to-value solution — a patent-pending photon-induced plasma arc gasification technology — will process biomass, such as lumber mill waste and agricultural residue, and municipal solid waste, for the cogeneration of heat and power.
Carbon Cycle Investments ("CCI"), which acquired a controlling interest in MPM following a stock purchase agreement in April 2013, has spent the last year evaluating CCP assets and analyzing all existing engineering designs.
"Every design and technical document has been reviewed thoroughly by process, mechanical, electrical and chemical engineers," said Brian Burrow, interim CFO for CCI/MPM. "This deep-dive analysis created an opportunity to improve the technology and enhance efficiencies in the gasification process. We now have a state of the art waste-to-value solution."
Manufacturing will begin after Wheeler Industries completes sourcing materials for the project. The location of the demonstration unit has yet to be determined but CCP is evaluating several sites throughout the Pacific Northwest.
About MPM Technologies, Inc.: MPM is a leading global manufacturer of environmental control equipment and a developer of waste-to-value energy solutions. MPM has offices in Spokane, Wash., and Ramsey, NJ. www.mpmtech.com CCP is a wholly owned subsidiary of MPM Technology that develops waste-to-value energy solutions through the deployment of photon-induced plasma arc gasification technology. Based in Spokane, Wash. www.carboncyclepower.com
About Wheeler Industries, Inc.: Founded in 1981, Spokane's Wheeler Industries is diversified machining and manufacturing job-shop tailored to handle a variety of work, from simple turning and milling to prototyping to close tolerance CNC production. www.wheelerindustries.net
About Carbon Cycle Investments, LLC: CCI is a holding company that develops, acquires and manages businesses that stimulate social, economic and environmental sustainability. CCI is based in Spokane, Wash. www.carboncycleinvestments.com
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CONTACT: Brian Burrow, Interim Chief Financial Officer firstname.lastname@example.org 509-242-3036Source:MPM Technologies