SAN JOSE, Calif., May 28, 2013 (GLOBE NEWSWIRE) -- On May 15, 2013 Pacific Green Technologies Inc. (OTCQB:PGTK) entered into and closed an agreement to acquire Pacific Green Energy Parks Limited, the sole shareholder of Energy Park Sutton Bridge Limited ("EPSB"), a company incorporated in the UK.
EPSB has obtained planning permission to develop a 49 MWe biomass power plant on land located at Sutton Bridge, Lincolnshire, UK (the "Plant") and holds the option to purchase the property on which the Plant will be built.
The entire Plant is currently anticipated to cost GBP165m (US$250m) and intends to use the ENVI-PureTM Emission Control System for removal of any hazardous gases and pollutants generated by the Plant. PGTK owns the marketing rights to the ENVI-PureTM Emission Control System.
EPSB Managing Director, Chris Williams said; "We are very pleased to be the first step within PGTK's strategy to build a dedicated Biomass and Waste to Energy Power Plant Development Group."
Pacific Green Technologies Inc.-"Where energy no longer needs to cost the earth"
Forward Looking Statement
Certain statements in this document that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pacific Green Technologies Inc. to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings".
CONTACT: Jordan Starkman 408-538-3373Source:Pacific Green Technologies Inc.