EAWC Technologies (OTC: EAWD) Signs Revised Agreement to Build Waste to Energy Plants in Mexico
EAWC Technologies (OTC: EAWD) (also known as Eurosport Active World Corp) announces it has signed a revised Agreement with Mexican Company, Tecnologias Verdes SA de CV, to build its innovative Waste to Energy (WtE) plants in Mexico. The revised Agreement, originally signed in March 2015, extends and expands its plans to construct a WtE power plant in Chiapas, Mexico; the first of five planned for this area of the country. Each plant is expected to deliver 50 – 125 Mw/hour with all five scheduled to active no later than 2020.
Mexico’s energy sector had been under strict governmental management since 1938. This changed in 2013 and 2014 when Mexico amended its constitution and passed enabling legislation overhauling its energy sector to allow private and foreign investment. EAWC plans to finance construction of its WtE projects through the placement of bonds secured by energy contracts.
Orders for the five WtE plants are expected to provide over $300 million in equipment sales alone, and related royalties for use of EAWC licensed technology would provide about $90 million in fees annually beginning in 2019 for the next 15 years. EAWC is also expected to generate revenue from the supply of gas to the power plans.