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U.S. Energy Quest, Italy’s COFAMM Set Up Energy-From-Waste Venture In Romania

U.S. Energy Quest Inc. on Monday said it has signed a memorandum of understanding (MOU) with Italy’s recycling machine manufacturer COFAMM on the construction of a 500 ton per day municipal solid waste gasification plant in Romania, which will generate 20 megawatts of power.
U.S. Energy Quest, Italy’s COFAMM Set Up Energy-From-Waste Venture In Romania
20 oct. 2008, 19:48, English

Energy Quest and COFAMM are to set up a joint venture that will invest EUR73 million in the Romanian facility, the American company said in a statement.
 
Energy Quest will provide the proprietary technologies, equipment and project management for the facility. COFAMM will provide a solution to sort municipal solid waste, providing refuse derived fuel as a feedstock.
 
“(…) the facility is extremely environmentally friendly since it will be a near zero emitter in terms or air pollution and greenhouse gases,” said Wilf Ouellette, president and chief executive officer of Energy Quest.
 
The plant will take approximately one year to build. Energy Quest officials estimate the facility will bring in annual revenues of some EUR20 million, yielding net profit of EUR8.3 million after taxes and debt payment.