NanoStruck Signs Letter Of Intent For $2.2 MLN Leachate Treatment Plan
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--
NanoStruck Technologies Inc. (the “Company” or “NanoStruck”) (CSE:NSK) (OTCQX:NSKTF) (Frankfurt:8NSK) announces a Letter of Intent (LOI) signed with the Municipality of Puerto Vallarta, Mexico to treat the leachate water at the Puerto Vallarta Landfill site (the “Plant”).
Bundeep Singh Rangar, Interim CEO and Chairman of the Board said: "Leachate is among the most contaminated wastewaters on our planet. Using the capability of our nanotechnology, we are effectively treating the leachate water and are doing so in a way that protects the environment and saves the Mexican taxpayer money. We believe there is a large opportunity is present for us in this regard.”
NanoStruck and Puerto Vallarta Landfill are working towards finalizing an agreement for Puerto Vallarta Landfill to purchase the Plant for a price of approximately C$2.21M including financing costs, payable over 72 monthly payments (the “Contract”). The LOI spells out the technology and commercial terms for the proposed undertaking.
Incorporating NanoStruck’s proprietary NanoFiltration technology, the Plant reduces heavy metals and other contaminants by up to 99%, rendering the treated leachate fully compliant with the requirements of NOM-001-3 SEMARNAT (Mexico’s Environment Ministry). This will allow the Puerto Vallarta Landfill to clean water locally and safely dispose the treated wastewater into local water courses or use it for agricultural irrigation, saving money on offsite third party treatment and associated transportation charges.
There is a major problem with leachate disposal at a significant number of landfill sites in Mexico. NanoStruck’s on site leachate treatment solutions reduce costs and ensure municipalities and private landfill owners are fully compliant with the strictest regulatory requirements. Currently, Mexico has 370 major government owned landfill sites and numerous privately-owned landfills. By law, leachate, which is highly polluted drainage water from land field sites, must be treated to reduce containments before being released into the environment.
About the Company
NanoStruck Technologies Inc.is a Canadian Company with a suite of technologies that remove molecular sized particles using patented absorptive organic polymers. These versatile biomaterials are derived from crustacean shells or plant fibers, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes. These could be to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions. Or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the Company’s offers environmentally safe NanoPure solutions for water purification. The Company uses Environmental Protection Agency (EPA) and World Health Organization (WHO) guidelines as a benchmark for water quality and safety to conform to acceptable agricultural or drinking water standards in jurisdictions where the technology is used.
Additionally, the Company’s technology can be used to recover precious and base metals from mine tailings, which are the residual material from earlier mining activities. By retrieving valuable metals from old tailing dumps, the Company’s NanoMet solutions boosts the value of existing mining assets and reduces the need for new, costly and potentially environmentally harmful exploration and mining.
The Company’s current business model is based on either selling water remediation plants or leasing out units and charging customers on a price per liter basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metal recovered is shared with tailing site owners on a pre-agreed basis.
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FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Statements relating to "reserves" or "resources" are deemed to be forward-looking statements because they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be profitably produced in the future.
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