Phase Separation Solutions Increases Plant Utilization at Wolseley for 2009
Phase Separation Solutions Inc. (“PS2”), a wholly owned subsidiary of West Mountain Capital Corp. (TSX-V:WMT), now has commitments for PCB soil treatment services that exceed 75% of its treatment capacity for 2009 at its facility in Wolseley, Saskatchewan.
PS2 is pleased to announce that it has an agreement with Bennett Environmental Inc. (TSX:BEV) pursuant to which it will provide standby treatment capacity in support of Bennett’s recently announced Pottersburg Creek Remediation Project in Ontario. Pursuant to this standby capacity agreement, PS2 has agreed to hold between 4,400 and 8,580 tonnes of processing capacity for PCB-impacted material removed from the Pottersburg Creek site. Bennett has recently been notified that it will be subcontracted to receive and treat PCB-impacted material removed from the storage vaults at the Pottersburg Creek site. Previous government announcements have indicated that there is approximately 78,000 tonnes of PCB-impacted material stored at Pottersburg Creek however there is no certainty as to the volume of material to be removed and treated from the site. The Pottersburg Creek Remediation Project is expected to commence by the second quarter of 2009.
In addition to the project noted above, PS2 previously announced that is has been contracted to remove and treat 6,300 tonnes of PCB contaminated material stored in an interim storage facility located in Western Canada. The contract has an expected value of $6.4 million dollars and is scheduled to commence in the spring of 2009.
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.
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 contract to remove and treat 6,300 tonnes of PCB contaminated material. In addition, there is no certainty to the volume of soil to be processed by PS2 under the agreement with Bennett Environmental Inc. 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 remove and 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 PCB contaminated materials in general, 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. 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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