Calgary, Alberta – July 3, 2012 – West Mountain Capital Corp. (“the Company” or “WMT”) today announces that its 100% owned subsidiary Phase Separation Solutions Inc. (“PS2”) has completed the demonstration of its Thermal Phase Separator (TPS) technology in Suzhou, China.
With the cooperation of its Chinese partner, the Nanjing Institute of Environmental Science (“NIES”), the Company completed the treatment of an inventory of pesticide contaminated soil that had been stockpiled by NIES in Suzhou, China. The demonstration was completed by a joint Sino-Canadian operations team and overseen by NIES on behalf of the Chinese Ministry of Environmental Protection. All required data from the demonstration was collected and evaluated by NIES who then confirmed it was an unquestionable success.
“We have now demonstrated and proven the effectiveness of our TPS technology in China. Analyses of the treated soil for pesticides such as DDT, DDD and DDE indicate contaminant removal below the accepted local criteria, and in most cases was non-detectable,” reports Paul Antle, President and CEO. “I am extremely proud of our Canadian and Chinese personnel who worked very hard to support and execute the demonstration.”
Prior to the start of the demonstration NIES organized an official Opening Ceremony attended by special guests and VIPs. “We were extremely pleased to host a number of China’s Ministry of Environmental Protection officials, provincial environmental protection bureau personnel, as well as various local and provincial Chinese government representatives. Representatives from the Canadian Consulate in Shanghai and the Embassy in Beijing were also in attendance to support our company,” said Antle. “NIES did an outstanding job promoting the demonstration project, our technology, and supporting the demonstration operations.”
The path is now clear for PS2 to deploy the TPS technology for commercial projects throughout China, the first of such deployments is expected before the end of 2012.
About Phase Separation Solutions:
PS2 is an established Canadian environmental solutions company specializing in the thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge and waste converting much of it into reusable oil and synthetic natural gas that it uses to sustain the process. This methodology offers significant opportunity for greenhouse gas reduction over traditional hazardous waste destruction technologies. PS2’s management team maintains expertise in hazardous waste management and contaminated site remediation with experience spanning North America and internationally throughout 14 countries.
The Nanjing Institute of Environmental Sciences of the State Environmental Protection Agency, Ministry of Environmental Protection (MEP) for the People’s Republic of China is a key technical provider for policies, legislation, action plans and technical guidelines on biodiversity conservation in China, with research areas in rural environmental protection, nature conservation and biodiversity protection. NIES carries out research on rural ecology, nature conservation, pollution prevention of township and village enterprises and agriculture chemicals. NIES undertakes key national research programs and scientific research projects on the rural environment and provide scientific basis and technical support for the management of rural environments and nature and ecological conservation while assisting in the formulation and implementation of relevant action plans.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements in respect of the volume of soil to be processed under its Strategic Cooperation Agreement in China and in general all soil volumes whether domestic or international from any source. The forward-looking statements and information are based on certain key expectations and assumptions made by West Mountain, including expectations and assumptions concerning the plan to be awarded contracts to treat such material. Although West Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because West Mountain can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the removal and treatment of pesticide contaminated soils in general, attempting to secure work, the uncertainty of estimates and projections relating to the value of the contract, health, safety and environmental risks, transportation costs, environmental risks, failure to realize the anticipated benefits of the contract, failure to obtain required regulatory and other approvals, and changes in legislation, including but not limited to environmental regulations, and risks associated with doing business in China. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and West Mountain undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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For Inquires Contact:
Mr. Paul Antle, President and CEO
Tel: 709 726 0336
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