NanoLogix Announces Completion of Welch's Hydrogen Bioreactor Facility and Commencement of Hydrogen Production Mar 13, 2006 10:47:00 AM Copyright Business Wire 2006 SHARON, Pa.--(BUSINESS WIRE)--March 13, 2006--
NanoLogix, Inc. (Pink Sheets:NNLX) announced today that the Company has completed the construction of its first commercial hydrogen bioreactor facility at a Welch's Food plant in North East, Pennsylvania. The company also announced that the facility will begin hydrogen generation from Welch's waste organic matter on or about the first of April 2006.
The technology behind the hydrogen bioreactor, developed and patented by NanoLogix in coordination with the Gannon University Department of Environmental Science & Engineering, allows for the limitless production of hydrogen from organic containing waste waters and any waste organic materials, such as sewer water, ground up garbage, etc.
David F. Rivers, a director of NanoLogix, CEO of Patriot Lift Company (http://www.patriotlift.com) spent more than 30 years with Pfizer's (NYSE:PFE) Schick & Wilkinson Sword business unit and General Motors' (NYSE:GM) Fisher Body Division in Senior Research, Development and Engineering operations, commented that, "This level of activity allows NanoLogix to demonstrate capabilities of its prolific intellectual property portfolio."
David C. McClelland, President of NanoLogix, commented, "We are delighted that construction of the facility has been completed and that hydrogen generation from Welch's waste streams is beginning. Beyond our own satisfaction of creating nano-products with great utility in real-world applications, comes the satisfaction of developing technology that greatly impacts the global community to everyone's benefit. Our ability to produce hydrogen in this manner represents a crowning achievement in the worldwide search for alternative fuel sources and a lessened global dependency on fossil fuels."
About NanoLogix, Inc.
NanoLogix is a nano-biotechnology company whose extensive portfolio of patents have application and marketability in the following areas: nanoscale microfluidics for the rapid identification of disease causing pathogens utilizing BioMEMS; production of high value hydrogen from agricultural feedstock, industrial waste water and municipal waste streams; nontoxic induction of apoptosis (a method for inducing a genetically based induction of "cell suicide") in cancer cells utilizing hydrophobic hydrocarbons; and the bio-remediation of air, water and soils of harmful contaminants.
Welch's is the world's leading marketer of Concord and Niagara grape-based products, including grape juice and jelly. The company produces a variety of other fruit-based products, including 100% juices, juice cocktails, and drinks in the following forms: single serve, bottled, refrigerated, and frozen and shelf-stable concentrates. In addition, Welch's produces a number of fruit spread products under both the Welch's and BAMA brand names. Welch's Web site can be found at http://www.welchs.com.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of NanoLogix, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
I placed an order at .09 while the ask was .075 and got nothing. Ended up canceling thinking it might dip but now it's back at the HOD.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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who likes this stock? I do. Great sector to be in and I have been watching this for about 3 months, I really like it. They recently announced success at producing hydrogen, as a plus.
Posts: 200 | From: Rhode Island | Registered: Mar 2006
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I love this stock, the guys working there and everything about it. Was in at .09 sold half at .24 and just hangin in. Could be monstrous in the long run if and when they talk about the relative efficiency of their hydrogen production. Trad Hydrogen production requires huge amounts of energy (costs a lot to make a lot), and these guys are redirecting the heat output from the Welches plant, thereby using already existing energy. They then send it and organic waste through a smorgasborg of evil sounding, naturally occuring organisms that breath out methane free hydrogen.
I have a thing for Sci-fi stocks so don't take my advice.
Posts: 6 | From: Ottawa | Registered: May 2006
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