NEW YORK, November -- Adama Technologies Corp. (OTCBB: ADAC) a company in the Cleantech sector, is pleased to announce that it will establish a landfill in Bucharest, Romania, for the installation of a waste-to-energy system with the right to negotiate for renewable electricity generation or Diesel production. The Project consists of the installation of a municipal Waste collection system and waste to energy Solution in landfill sites in the surrounding area of Bucharest, Romania. The landfill waste to energy component consists of installing a flare to capture methane gas contained in landfills for the production of electricity or Waste to Diesel production facility. The Landfill will collect approximately 750,000 tones of municipal solid waste each year at start. After the landfill gas collection system is operational and demonstrates sufficient flow and quality of gas or Diesel, Adama Technologies will look to expend its abilities in the field for other waste to energy opportunities in Romania.
Adama Technology will be an investor in the Project and will be a project co-developer. Revenues to Adama Technologies will come from the sale of tipping fee, CERS and, if power is produced, the sale of electricity or Diesel. Adama Technologies to finance certain capital and other expenditures of the Project. 'Romania is a country where we have anticipated we can work with operators of landfills and other commercial projects that are interested in reducing greenhouse gases, selling carbon credits and producing renewable energy. There is demand in Europe to purchase carbon credits and there is a shortage of energy in Romania. As a project developer we will seek to put buyers and sellers together.' said Aviram Malik, CEO of Adama Technologies, ' No doubt, this project is the most significant development ever made by Adama technologies team'.
This project is expected to generate a minimum of $30,000 a day and $10,000,000 annually on the first year of its operation. The Landfill operation is expected to double itself each year and in four years to generate up to $250,000 a day and approx. $100,000,000 annually.