DGAP-News: GRIT International Inc.: GRIT INTERNATIONAL INVESTS IN 'BLUE CASTLE HOLDINGS - NUCLEAR POWER PROJECT'
(firmenpresse) - GRIT International Inc. / Key word(s): Alliance/Contract
02.11.2010 11:11
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GRANDE PRAIRIE, AB, Tuesday November 2nd, 2010: GRIT International Inc.,
'GRIT' (FRANKFURT: 3GR1) is pleased to announce that it has signed an
agreement to financially participate in the 'Blue Castle Holdings - Nuclear
Project'. Blue Castle is developing the leading Western United
States-based new nuclear power station. Participation in this clean energy
project is a clear demonstration of GRIT's established corporate
principles. We will 'strive to be an environmentally friendly corporation
by leading the forefront of technological advances and innovations to drive
eco-friendly methods and technologies to new levels of efficiency'explained
Lawrence Zeiben, GRIT's CEO.
GRIT's financial participation in this project will give GRIT a minority
ownership stake in Blue Castle Holdings Inc. With the ownership stake, GRIT
is awarded a position on the Engineering-Procurement-Construction (EPC)
project committee. This enables GRIT to offer a wide range of services
during deployment of the 'Blue Castle Holdings - Nuclear Project'. The
synergies of GRIT's experience and expertise in sourcing materials for
industrial applications and its service companies in GRIT DYNAMICS create a
relationship that greatly benefits all parties within this project. GRIT
could be participating in the sourcing of 750,000 tons of steel and 200
miles of pipe for the new nuclear project.
The need for new electric generation resources in the Western U.S markets
is being accelerated by the recent changes to EPA emissions standards. In
2005 these changes led to the closing of the 1,500 megawatt Mohave Power
Station in Nevada. The EPA has targeted the 2,040 megawatt Four Corners
Power plant in New Mexico to either improve emission or shutdown.
Speculation is that the 2,280 megawatt Navajo Generation Station will be
next.Blue Castle reports having 17 electric utilities in different stages
of due diligence interested in participatingin the new nuclear project
because of the difficulty in developing new and operating existing coal
fired electric generating resources.
The Blue Castle Project is on the Nuclear Regulatory Commission's list of
expected new nuclear power plant applications.Four Early Site Permits for
new nuclear power plants have been issued in the U.S between 2007 and 2009,
17 applications for combined construction and operating licenses (COLAs)
are under review by the NRC, and the first COL license is scheduled to be
granted in December, 2012.
Another comment from GRIT CEO, Lawrence Zeiben 'I am sure that GRIT's
participation in this project will change how we and our children's
children look at power generation and emissions ; and how like-minded
people can set out to 'Change' and make the planet a better place for all
of us to live'.
GRIT INTERNATIONAL INC.
GRIT International is a Canadian based company, registered in the State of
Nevada; its goal is to become the leader of paint and coatings products in
North America. GRIT is already a specialized service provider of composite
abrasives, blasting, paintings and coatings. It is developing additional
interests and assets in minerals, oil and gas, utilities and engineering.
Blue Castle Holdings Inc. (BCH) is a Utah based company, focusing on
reducing the risk of deploying new clean power resources for electric
utilities. The Blue Castle Project isthe leading Western United
States-based new nuclear power plant site. The BCH business mission is to
select, acquire, enhance, and license plant sites which are uniquely well
suited for the deployment of new nuclear power generation. Website:
www.bluecastleproject.com
Safe Harbour Statement; under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission. Contact: GRIT International Inc.,
Investor Relations. Website: www.gritintl.com; E-mail:
grit-admin(at)gritintl.com
Investor Relations
Website: www.gritintl.com;
E-mail: grit-admin(at)gritintl.com
P : 780.513.1125
F : 780.814.5584
A : Suite 201, 9914 - 109th Avenue, Grande Prairie, AB, T8V 1R7
Investor Relations - German
Mr. James Stewart
P: +49 (0) 2161 49694870
E: jstewart(at)gritintl.com
02.11.2010 11:11 Dissemination of a Corporate News, transmitted by DGAP -
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Datum: 02.11.2010 - 11:11 Uhr
Sprache: Deutsch
News-ID 32465
Anzahl Zeichen: 0
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Kategorie:
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