SPOKANE VALLEY, Wash., Dec. 22, 2014 (GLOBE NEWSWIRE) -- MPM Technologies, Inc., ("MPM") (OTC:MPML) subsidiary Carbon Cycle Power ("CCP") signed a lease agreement with an affiliate of Spokane Valley manufacturer Wheeler Industries, Inc., to house the demonstration unit of CCP's waste-to-value solution — a patent-pending photon-induced, electric-arc gasification technology — that will process biomass (such as lumber mill waste and agricultural residue) and municipal solid waste for the cogeneration of heat and power. CCP also announced that the website www.carboncyclepower.com is now live. The website provides an overview of the company and its technology.
Carbon Cycle Investments ("CCI"), which acquired a controlling interest in MPM following a stock purchase agreement in April 2013, already has an agreement with Wheeler as the manufacturer of the reaction chamber of its gasification technology.
"After reviewing several viable options, the one that made the most fiscal sense was to manufacture and demonstrate in the same location," said Brian Burrow, interim CFO for CCI/MPM. "We're literally building the unit on one side of the street and deploying the demo on the other side of the street. It really is an ideal scenario."
Manufacturing will begin immediately now that the lease agreement has been signed. Additional news regarding manufacturing progress will appear on the website's news page: www.carboncyclepower.com/news.
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 Valley, Wash., and Ramsey, N.J. 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, electric-arc gasification technology. Based in Spokane Valley, Wash. www.carboncyclepower.com
About Wheeler Industries, Inc.: Founded in 1981, Spokane Valley's Wheeler Industries is a 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 Valley, Wash. www.carboncycleinvestments.com
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CONTACT: Brian Burrow, Interim Chief Financial Officer email@example.com 509-242-3036Source:MPM Technologies