Press Release Source: CSMG Technologies, Inc.
CSMG Technologies Finalizes Terms for Funding its Chastang Landfill Project Monday October 24, 10:30 am ET
CORPUS CHRISTI, Texas, Oct. 24, 2005 (PRIMEZONE) -- CSMG Technologies, Inc. (OTC BB:CTUM.OB - News) announced today that the company has signed a conditional term sheet for $1.75 million with Algonquin Power Income Fund for the landfill gas CO2 separator project in Chastang, (Mobile) Ala. Funds will be used for the plant's startup, operations and to construct a pipeline to deliver processed gas to an industrial customer.
onald S. Robbins, president and CEO of CTUM, said, ``I am proud that Algonquin Power Income Fund has chosen to partner with CSMG Technologies on our flagship plant in Chastang. Algonquin Power Income Fund executives who have visited the Chastang plant have indicated they would be interested in supporting other existing and future CSMG landfill projects.''
The ASME-certified 177-metric-ton complex includes compressors and technology for separating and removing high levels of CO2 content from raw landfill methane gas resulting in usable quality methane gas suitable for the commercial natural gas market.
There are approximately 18,000 landfills in the U.S. and Canada. The company believes its technology could fit production criteria of up to 15 percent to 20 percent of these landfills. CSMG Technologies, Inc. owns the patented technology for high quality landfill gas production.
Algonquin Power Income Fund is a publicly traded mutual fund trust which owns approximately $800 million of energy and infrastructure assets in the United States and Canada. Information on the Algonquin Power Income Fund may be found at http://www.AlgonquinPower.com.
Investors may contact Don Robbins or K. Bruce Jones, CSMG, at (361) 887-7546; e-mail: publicrelations*ctum.com; or Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info*hawkassociates.com.
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