Calgary, Canada based Alter NRG, a specialist in the use of plasma gasification to treat wastes, has reported an increase in revenues for the first quarter of 217% over the same period last year.
The company said that its revenues for the first quarter of this year rose to $4.4 million, which reflects the progress on the fabrication of its large-scale Westinghouse Plasma gasifier for a 50 MW facility under construction by Air Products on Teesside, UK. (See WMW story)
During the first quarter of 2013 the company said that there were three facilities under construction or commissioning, which highlights the growth potential of its Westinghouse Plasma Technology.
In addition to the Air Products project, Alter NRG said that Wuhan Kaidi which had previously ordered engineering and torches, completed construction of its demonstration facility in China for which the Westinghouse Plasma Gasifier was commissioned during the first quarter of 2013.
The facility is expected to take 100 tonnes per day of biomass waste and convert it into liquid fuels. Upon successful demonstration (expected in early 2013), Alter NRG said that
Walter Howard, CEO of Alter NRG explained that the first quarter of 2013 was about execution, with construction of the world's largest plasma gasification facility by Air Products being a "tipping point" for the company.
"Delivering the main portion of the 950 tonne per day gasifier to Air Products. This was a major milestone for the Corporation and this large scale vessel is now being shipped to the site," he said.
"Execution also continues related to our opportunities for co-investment into projects that are being developed by capable partners and have strong financial returns," added the CEO.
According to Howard most developers welcome the core technology provider as a project owner. However, he stressed that Alter NRG itself is not a developer as it is a time consuming and often expensive process best left to larger institutions and specialised local teams.
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