Largo, Florida based GDT Tek, a specialist in the use of the use of the Organic Rankin Cycle principal to generate electricity has entered into an agreement in principal to purchase 100% of a landfill gas to energy company.
According to GDT Tek (OTC: GDTK), which did not make specific details available, the landfill operation is located in the northern part of the U.S. near the Great Lakes.
The company said that the agreement requires it to make a payment of $8,950,000 to the current owners within 120 days from the date the agreement was signed.
GDT Tek has licensed patented waste heat to electric power generation technology and is pushing its adoption by power plants, landfills and other waste-heat generating industries.
According to the company its system has been proven through a long-term five year installation at a San Jose, California landfill, where waste heat captured from the generator's engine exhaust and cooling systems is used to generate electricity which is then sold to the grid.
"This acquisition once completed will allow GDT Tek to install our Phoenix units at the landfill location and increase revenue by up to 20%," explained Bo Linton, President of GDT Tek.
"Our second goal would be to present the Green USA Recycling process to the County officials and see if they have an interest in incorporating the recycling into the landfill operation thereby increasing the operating efficiently at that landfill," added Linton.
Green USA Recycling, a partner of GDT Tek, is an Indiana company focused on single stream waste recycling technologies and waste to energy technologies.
The company recycles waste products to RDF Pellets, Organic Fertiliser, Electricity, and many other products and is driving its adoption by power plants and other waste-heat generating industries.
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