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Plateau Mineral Development, Inc. Issues an Update on the Converter Project
Plateau Mineral Development, Inc..Related Quotes
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PMDP.PK 0.0006 0.0000

Press Release Source: Plateau Mineral Development Inc. On Tuesday January 5, 2010, 4:06 pm

WINSTON-SALEM, N.C., Jan. 5, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) announced today that the firm, in conjunction with Environmental Solutions, has completed a design for a converter unit that will transform tires into carbon black, oil, gas and petroleum solvents.



The market for carbon black includes the manufacturing of new tires as well as for producing batteries, making it an even more important commodity than the company had originally thought. Carbon black sells for approximately $0.46 per pound.



A prototype unit was put to the test, showing that the converter yields more than 95% of usable product after it converts the materials put into it. The fully-operational converter is the size of a truck bed. However, the goal is to fabricate and test a portable unit that can be taken to remote sites for conversion and environmental cleanup jobs. Funds are currently being raised to create a better, more efficient second generation unit.



Robert Matthews of Plateau Mineral Development, Inc. states, "The discovery that carbon black can be used for batteries is a leap in the right direction for us. Since the converter lends itself to the production of carbon black, and since carbon black can be used for batteries and the remanufacture of tires, there's a great deal of potential with regard to the profitability of creating and using the converter."

SSTP Board of Directors Appoints Michael Garjian as Chairman of the Board, Chief Technology Officer, and Vice-Chairman of the Scientific and Technical Advisory Board

BAYTOWN, TX -- (MARKET WIRE) -- 12/28/09 -- Sustainable Power Corp. (PINKSHEETS: SSTP) announced today that its Board of Directors has appointed Michael Garjian as Chairman of the Board, Chief Technology Officer, and Vice-Chairman of the Scientific and Technical Advisory Board . Following this board action, John H. Rivera, SSTP's majority stockholder, announced the transfer, by proxy, of all his stock voting rights to Mr. Garjian. "With this action, I am excited and confident that SSTP will continue to achieve everything I have been hoping for during my decades of development work," announced Rivera, who is now focusing his efforts on innovations that will further the success of SSTP.

M. Richard Cutler will continue as President and Chief Executive Officer of the Corporation. "I welcome the addition of Michael Garjian who will continue to help with the significant responsibilities for understanding the technology and commercialization of our products that are resulting from the verification of the company's licensed process by Texas A&M University ," said Cutler. "His substantial expertise in biofuel technologies and other energy technologies, as well as his presence as a seasoned innovator, manufacturer, business advisor, scientist, and community economic development leader will serve the corporation well as we move forward."

During 35 years as a manufacturer, Garjian was granted nine worldwide technology patents and employed more than 400 individuals manufacturing and distributing his inventions globally. His past work was derived from his knowledge in sciences and disciplines including agriculture, paper manufacture, materials science, glass manufacture and fabrication, plasma physics, high energy electronics, alternative fuels, biofuel production, biofuels in transportation, and biochar.

Of his appointment to the SSTP board, Garjian said, "I am honored by my appointment as Chairman of the SSTP Board of Directors. I look forward to working with the board of directors, President and CEO M. Richard Cutler, and company employees to meet our corporate and community goals.

"With the confirmation of the company's licensed process SSTP has entered a new era and we will move ahead immediately to begin commercialization of SSTP's worldclass Vertroleum biofuels, biogases and biochar products. Our corporate goal will be to provide these products at competitive prices regardless of the price of fossil fuels and to achieve lasting profitability and sustainable growth for the benefit of our employees, stockholders, and the community."

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