Jul 28 2005
Global Environmental Energy Corp. confirmed today that its subsidiary, Biosphere Development Corp., a corporation registered in the Commonwealth of the Bahamas, has signed a letter of intent to purchase 1 million tones of pozzalanic ash with its partner LENR.
LENR intends to make the 1 million tones of pozzalanic ash available to Biosphere's clients in the construction industry in Europe and in China. At current market values, LENR's expected revenues from the sale of this ash will be in excess of $150 million.
Biosphere recently announced a new joint venture with Environmental Concrete Company Ltd.
Environmental Concrete Company Ltd has large road and construction projects in China and other developing countries.
China's cement requirements from 2001 to 2005 were estimated at 200 million tones per annum. Domestic production meets approximately 50% of this demand. The Chinese road market receives government investment in the region of $42 billion per annum. Environmental Concrete Company Ltd estimates that the Chinese construction market is some six times this value. Over 30% of the worlds concrete is supplied to the Chinese domestic market with volumes expected to reach 1 billion tones annually by 2007. This represents a market value in excess of USD$70 billion at current cement prices.
At current market values, Biosphere(TM) Process Systems' byproducts in this cement marketplace would increase Biosphere's gross sales per each 5 tonne Biosphere(TM) Process System in excess of USD$350,000 per annum per Biosphere(TM) Process System.