Farmingdale, NY, Sept. 30, 2016 (GLOBE NEWSWIRE) --
Cemtrex Inc. (Nasdaq: CETX), a world leading industrial and manufacturing solutions company, announced today that it expects new markets for greenhouse gas monitoring and control technologies to open up due to the recent commitment of many nations to the Paris Climate Agreement. The Agreement calls on countries to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low-carbon future, as well as to adapt to the increasing impacts of climate change.
The Agreement will enter into force 30 days after at least 55 countries, accounting for 55 per cent of global greenhouse gas emissions, deposit their instruments of ratification. During the UN General Assembly this past week, 32 more countries deposited their instruments of ratification for the Agreement, bringing the total to 61 countries that have formally joined the pact, and officially crossing one of the two thresholds required to bring it into force. Those 61 countries, including the two biggest emitters, China & the US, together represent 47.79 per cent of global greenhouse gas emissions. Following the announcement last week that India will ratify on October 2nd, formal approval from countries representing slightly more than three per cent in global emissions is still needed.
Cemtrex’s Chairman and CEO, Saagar Govil, commented, “This global interest to curb climate change is an important step towards stronger domestic and international policy on CO2 reduction. This translates to companies implementing greenhouse gas monitoring technologies as a first step to better assess their carbon footprint and then subsequently technologies for CO2 capture and removal. At Cemtrex, we are positioned well to provide monitoring solutions for many industrial and manufacturing companies currently, and are focused on developing innovative solutions for a low carbon future. We believe this can open billion dollar markets for our products like IS2500 and VAMOX.”
About Cemtrex
Cemtrex, Inc. (NASDAQ:CETX) is a global, diversified industrial and manufacturing solutions company that provides a wide array of products and services to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial maintenance services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.