Ontario Renews Commitment to Biogas Generated Renewable Energy
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/26/12 -- Organic Resource Management Inc. (TSX VENTURE: ORI) ("ORMI" or "the Company"), applauds the Government of Ontario for moving ahead with its clean energy program, taking immediate steps to ensure the long-term sustainability of renewable energy and underlining its commitment to biogas renewable energy following the first review of Ontario's signature Feed-in-Tariff (FIT) program.
The FIT review recommendations released last week clearly support biogas renewable energy's place in Ontario's renewable portfolio. Unlike solar and wind, that received a reduction in the tariff offered under the FIT program, the effective tariff for biogas will actually be increased through a more than doubling of the future inflation recovery formula. In addition, new rules for access to the electrical grid recognize biogas generation's beneficial impacts on the network through automatic qualification upon application, resulting in earlier access to the grid connection queue.
"The goals of this first FIT program review were to confirm that the value for electricity ratepayers was balanced against the reasonableness of the rates of return on the biogas investments. The outcome of this review is a clear thumbs-up for biogas, and sets the stage for continued collaboration with the Government of Ontario to expand biogas generation in Ontario." said Douglas Carruthers, Senior Vice President of ORMI, "We are pleased with the outcome of this review. ORMI identified biogas's value proposition early and has since been a strong advocate. We believe this report endorses that vision."
For a copy of Ontario's Feed-in Tariff Program review, please visit Industry News on ORMI's website at .
About Biogas
Biogas is the reliable renewable delivering efficient renewable energy 24/7. Flexible, efficient and low profile biogas distributed energy installations blend into the community on a scale tailored to local distribution grid demand. Biogas renewable energy generated locally and consumed locally supports local electrical grid integrity and avoids costly transmission line losses. Biogas renewable energy production utilizes organic residuals recovered from food service, food production and food retailing that would otherwise be landfilled. And, biogas production improves air and ground water quality by capturing and safely utilizing greenhouse gases and valuable nutrients that would otherwise be lost.
About Organic Resource Management Inc.
Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals into feedstock for biogas renewable energy production. ORMI and its biogas partners are on target to generate enough green energy to supply 2,000 households in 2012. ORMI services in excess of 10,000 grease interceptors for commercial, industrial and institutional customers across Canada on a regularly-scheduled basis. These services are a critical component of current program initiatives in North American landfill waste diversion and wastewater treatment. Further information about ORMI may be obtained at the Company's web site at .
Forward Looking Statements
Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Organic Resource Management Inc.
Charles Buehler
Chairman and CEO
416-580-8574
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Datum: 26.03.2012 - 15:33 Uhr
Sprache: Deutsch
News-ID 128432
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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