Increased NOx Emission Credit Prices to Benefit Kleenair NOx Reduction Systems
6 June 2000
Increased NOx Emission Credit Prices to Benefit Kleenair NOx Reduction Systems
NEWPORT BEACH, Calif. - KleenAir Systems, Inc. believes that it's NOx reduction technology will benefit significantly from the recent dramatic increase in the price of NOx RECLAIM Emission Trading Credits which recently topped $6.25 per pound, a record price in the electronic market operated by Automated Credit Exchange.In a May 31st announcement by ACE, tracking recent increases in NOx prices, they stated that "May's market prices represent a nearly 50% increase" and "the price jumps show the growing value of these credits to companies as their emissions reduction requirements become tighter." A total of more than 1.9 million pounds of NOx emissions credits were sold in the May market.
KleenAir has a unique computer controlled ammonia system, the NOxMaster(TM), which, when injected into the exhaust stream, interacts with NOx produced during combustion. The result converts environmentally hazardous NOx into harmless nitrogen and water. In addition, the Company is testing its system in combination with advanced technologies that reduce particulates dramatically.
The Company's strategy in the California market is to target RECLAIM companies that must meet Southern California Air Quality Management District (SCAQMD) pollution reduction targets. The Company's NOxMaster(TM) system enables a Company to install the devices on their fleets of automobiles and trucks and collect emission trading credits for NOx reductions achieved. The Company believes the reductions would earn sufficient credits for the system to pay for itself in a short period of time. The higher the price of the trading credits the more cost effective becomes the installation of the Company's NOx reduction systems.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially.
