RESTON, Va., May 3, 2005 (PRIMEZONE) -- Triton Technologies (Pink Sheets:TNTG) today announced the start of Phase I in the development of its initial power generation plant. The plant, scheduled to be built at UK Coal's Doncaster facility, is expected to produce 50 MW of electricity and be completed in September of this year. Triton's ethanol division, Starbourn-Triton, will operate the plant.
Utilizing its patented gas synthesis technology, Starbourn-Triton can process and refine various biomass feed stocks to produce an ultra-pure form of methane gas. This refined syn-gas can either be used in gas form directly as fuel for power generation or, in connection with Starbourn-Triton's proprietary liquification syn-gas technology, to produce liquid high-grade ethanol. For the initial UK Coal project, the methane gas produced will be utilized only for power generation.
Using Starbourn-Triton's proprietary and patented technology, the cost to produce high-grade ethanol is almost 50 percent less than current fermentation-based methods (an estimated $0.80 per gallon compared to industry standard costs of $1.50 per gallon). In addition, ethanol produced by Starbourn-Triton has little moisture content making the product more stable and portable than conventional ethanol.
"This a very exciting time for Starbourn-Triton," said Triton CEO Christopher Zanardi, "Our first power plant provides the Company with an excellent entry point into Europe. We feel very confidant that our unique technology will allow the Company to be highly competitive in the ethanol and power generation markets."
U.S. Government regulatory measures including EPACT and Clean Air Standards, as well as new policies banning the use of MTBE are acting as a major catalyst towards ethanol industry growth. The ethanol market is expected to grow from $6.8 billion in 2003 to more than $24 billion by 2010 as ethanol is increasingly used as a fuel oxygenate and energy alternative. Aggregate US demand for ethanol is expected to reach over 12 billion gallons by 2010 from an estimated 3.4 billion gallons in 2004, creating a significant supply crisis as producers seek to expand their production capabilities.
On the international level, ethanol usage is also expected to ramp significantly. Key international markets where ethanol demand is expected to expand dramatically include the European Union (where stringent regulations are targeting levels of 2% by 2005 and 5.75% by 2010 for biofuels in transport fuel) and China (annual consumption of 3 billion liters per year, growing by over 10% per annum).
"The growing global demand for a higher grade and low cost ethanol provides Triton with an excellent opportunity to maximize revenue and increase shareholder value," continued Mr. Zanardi.
The ethanol market has been recognized as a significant market by fellow energy producers, including Pacific Ethanol, Inc. (Nasdaq:PEIX), agribusiness player Archer-Daniels Midland Company (NYSE:ADM) and energy conglomerate The Williams Companies (NYSE:WMB).
About Triton Technologies
Based in Reston, Virginia, USA, Triton Technologies is a single source supplier of renewable and clean technologies to the global commercial, industrial, municipal and federal marketplace. The Company's current portfolio of assets includes high-grade ethanol production; ultra-pure drinking (potable) water production; and rechargeable battery manufacturing technologies. Triton plans to grow through the acquisition of distributor, manufacturing and licensing rights to innovative and market-ready clean technologies that will produce significant and profitable revenue streams for the Company. For more information on the Company or the events above please contact Triton Technologies at 703.725.7391 or info@triton-technologies.com
This news release contains forward-looking statements within the meaning of Section 37 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 of the United States. These forward-looking statements involve risks and uncertainties. The Company undertakes no obligation to publicly update or revise the forward-looking statements whether as a result of new information, future events or otherwise.