2013-05-08 14:34:20 -
Vancouver, British Columbia CANADA, May 08, 2013 /FSC/ - Carbon Friendly Solutions Inc. (CFQ - CNSX, CFQSF - OTC_Pink),(the "Company" or "Carbon Friendly") is pleased to report that it has accomplished the following goals in the previous six months:
* Signed a binding Letter of Intent (LOI) to build the first MicroCoal(tm) plant in Asia, to be located in Indonesia;
* Acquired 100% ownership of the MicroCoal technology;
* Completed and submitted additional patent applications for exposing solid material, such as coal and biomass, to microwave radiation;
* Granted a trademark registration on "MicroCoal" by the US Patent and Trade Mark Office;
* Entered into a consortium with a state-owned agency to apply for a funding grant to establish a
European test facility;
* Appointed Dr. Isaac Yaniv, a renowned scientist and founder of MicroCoal Inc., to Carbon Friendly's Advisory Board. (He is responsible for more than 20 patents related to materials and mineral processing, including key patents on separation of contaminants from coal.);
* Established representatives in key international markets to market and sell MicroCoal in Europe, Asia, North America, and Africa;
* Recruited Mr. Robert Randall Johnson, a former Vice President of Operations and Chief Engineer at Massey Energy, as MicroCoal's Senior Project Manager. (He will oversee deployment of MicroCoal plants in Indonesia and other countries.); and
* Successfully completed coal testing for an Indonesian utility, and advanced the project to the Design Stage.
The Company intends to work diligently with parties interested in the MicroCoal technology to secure binding agreements that generate revenue. Based on the foregoing, the Company reports that it anticipates the Operating Profit to be in the range of $4 Million to $5 Million for its June 2014 year-end. In the June 2015 year-end, the Company forecasts the Operating Profit to be between $24 Million and $25 Million, reflecting increased adoption of the MicroCoal(tm) technology in key international markets.
The 2013 guidance represents initial capital expenditures for a MicroCoal plant in the USA, and license fees for Europe and Asia. The Company is in advanced discussion with utilities in Canada, USA, Indonesia, and Europe and expects to convert this interest into sales in 2013 and 2014.
Slawek Smulewicz, CEO and Director of the Company, states: "The growing interest for the Company's MicroCoal Technology is an indicator of the global need for a clean coal technology. As more MicroCoal plants are built, the majority of the Company's revenue will be driven by its MicroCoal subsidiaries, resulting in strong cash flow and enabling the Company to deliver sustainable, long-term value to its shareholders."
About Carbon Friendly Solutions Inc.:
Carbon Friendly Solutions Inc., through its subsidiaries, is focused on the development of energy efficiency technology, renewable energy, and reforestation projects that have the potential to generate significant revenue. MicroCoal Inc. has an internationally patented technology that is expected to improve coal-fired utilities' economic performance by reducing input costs, improving operations and simultaneously reducing their environmental footprint. Global CO2 Reduction generates Carbon Offsets from forestry projects that may be transacted through international voluntary markets. Carbiopel S.A. aggregates biomass supply and produces biomass fuel pellets for the European market, including large European utilities and independent renewable energy providers, in line with EU renewable energy directives.
On behalf of the Board of Directors
Carbon Friendly Solutions Inc.
CEO and Director
Forward Looking Statement
Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management's assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "estimates", "expects" "anticipates", "believes", "projects", "plans", "outlook", "capacity" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the actual production or sales for the 2013 or 2014 fiscal years will be less than projected production or sales for these periods; risks that the prices for MicroCoal facilities and Biomass will be less than projected or expected; technical problems; the effects of competition and pricing pressures in the Biomass and MicroCoal markets; the oversupply of, or lack of demand for, coal or biomass; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; various events which could disrupt operations, engineering, and sales, construction, including labour stoppages and severe weather conditions; and management's ability to anticipate and manage the foregoing factors and risks. The forward-looking statements and information contained in this press release are based on certain assumptions regarding, among other things, future prices for MicroCoal and Biomass; future currency and exchange rates; the Company's ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; the regulatory framework representing royalties, taxes and environmental matters where the Company conducts business; coal consumption levels; and the Company's ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this press release unless required by law. The statements as to the Company's capacity to achieve revenue are no assurance that it will achieve these levels of revenue or that it will be able to achieve these sales levels. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.
We seek safe harbor.
CEO and Director,
Carbon Friendly Solutions Inc.
Telephone: (604) 676 9792
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Source: Carbon Friendly Solutions Inc. (CNSX: CFQ)
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