New Agreement in California for Waste Recycling, JV, and Funding for Waste Recovery in India, Plus Additional Green Energy, Carbon Reduction, and Waste Management Projects: Astra Energy Inc.
- Developing Renewable Clean Energy Projects in Key Markets Such as Vietnam, Tanzania, Zanzibar, and Others.
- Acquired Patented Waste Management Technology that Cleans Up Waste Sites Creating Residual Revenue via the Sale of Sterile Pellets, Biofuels, and Power Generation.
- Waste-to-Energy Technology to be Installed at Material Recycling Facility in Southern California
- Exclusive Sales, Marketing, and Distribution Agreement in India for Waste-to-Energy Project with Initial Funding in Place.
- Commitment from Zanzibar to Supply 200 Acres of Land on a 33-Year Renewable Lease for Proposed Clean and Renewable Energy Park Project.
Astra Energy Inc. is an integrated solutions provider investing in and developing renewable and clean energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs.
The ASRE corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology, and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet, and the Company's investors.
ASRE has a goal to create a more secure and sustainable power sector that supports the Company's purpose, mission, and values to transform the economic, environmental, and social landscape for generations to come.
For investors, ASRE has an attractive share structure with approximately 66.5 million shares outstanding and an approximate public float of 24 million. There are no preferred or outstanding shares issued and no long-term or convertible debt on the balance sheet.
Agreement to Install Waste-to-Energy Technology at Material Recycling Facility in Southern California
On May 25th ASRE announced that it subsidiary Regreen Technologies Inc. has finalized an agreement with one of the largest independent material recycling facilities ("MRFs") in Southern California. The agreement permits ASRE to install and operate its one-ton-per-hour waste material processing system that converts municipal solid waste ("MSW") into organic compostable pellets, which can be resold to multiple marketable solutions.
The MRF recently received approval from the Local Enforcement Agency ("LEA") of Southern California, which has some of the highest environmental standards in the world. As a result of the agreement, ASRE will establish a research and development project at its facility to demonstrate the capability to comply with the new regulations of California SB 1383 enacted by the state of California. The regulations require all residents and businesses to recycle organic materials such as food waste, food-soiled paper, and yard debris. SB 1383 is a bill designed to reduce the disposal of organic waste, including edible food, in landfills while establishing methane reduction targets for California. The purpose of the bill is to reduce greenhouse gas emissions such as methane while addressing food insecurity.
In part, the LEA granted approval based on independent lab test results from pellet material processed by the ASRE system. The material showed that the moisture content was below 7%, the leading indicator pathogens were reduced by 95% (fecal coliform/salmonella), and the 503 heavy metals by over 60% (pass/fail), to comply with the standards established for Senate Bill 1383. The ASRE technology converts municipal solid waste and organic waste into a non-waste pellet suitable for conversion to high-yield commodities.
The MRF processes approximately 400 tons of MSW per day, which can result in approximately 160 tons of usable and resalable pellets per day. The goal is to expand to a commercial scale and become a reliable source for this type of feedstock supply. The commercial-scale volume is upwards of 2,400 tons per day, which is the type of facility that will help California reach its goal of methane reduction and landfill remediation.
The ASRE goal for this installation is to establish the MRF as the first MRF in North America to be 95% divergent from the landfill. The byproduct of the permanent installation of this technology will result in a lower carbon footprint, scaled collection and processing for neighboring communities, a significant reduction to the MRF's bottom-line costs due to lower tipping fees than the customary landfill expense, and production of valuable commodities to be sold both domestically and internationally. ASRE has laid the groundwork with many state and municipal governmental entities, both in the U.S. and internationally, and is poised to become the standard waste remediation solution in the world.
Exclusive Sales, Marketing and Distribution Agreement in the Republic of India for the ASRE Waste-to-Energy Technology
On April 18th ASRE announced an initial equipment sale and the formation of a joint venture with Astra Regreen India ("ARI"), an Indian corporation. ARI will hold exclusive rights for sales, marketing, and distribution and establish a first-of-its-kind Municipal Recovery Waste Facility ("MRF") in the Southern States of the Republic of India.
ASRE will receive a project deposit of $100,000 USD, an equipment deposit of $1,800,000 USD for the sale of the first 15 Ton Per Hour ("TPH") Regreen Total Waste System ("TWS"), and the balance first tier from operations. Upon successful implementation of the first installation, ARI is required to place orders for five more Regreen TWSs ranging between 3TPH to 15TPH capacity within 36 months. Additionally, Astra will hold a carried interest in the revenues of all future projects within the territory.
The ASRE "India Green Project" will consist of constructing a 30,000-square-foot facility at a designated landfill that will initially host a 15TPH Regreen TWS to process a minimum of 300 tons of municipal solid waste and agricultural waste per day. The landfill will provide a 25-year concession on land and feedstock (MSW and agricultural waste). Once processed through the Regreen TWS, the output will consist of low sulfur, bacteria and odor-free, high BTU, and calorific-value energy pellets, as well as other valuable and marketable commodities to be sold in the global market. The first deployment will begin within six months.
Acquisition of Land for Zanzibar Clean and Renewable Energy Park
On March 20th ASRE announced that it has received a commitment letter from the revolutionary government of Zanzibar to supply approximately 200 acres of land by way of a 33-year renewable lease, for the ASRE proposed Zanzibar Clean and Renewable Energy Park Project.
The Project will generate 50 MW of clean and renewable energy on Unguja Island, the largest island in the Zanzibar Archipelago and the seat of Zanzibar's semi-autonomous government. It will be comprised of 42.5 megawatts of solar generation, coupled with the ASRE proprietary Regreen waste-to-energy technology, which will generate the remaining 7.5 megawatts while consuming and eliminating approximately 300 tons of municipal solid waste (MSW) daily.
The Project will also include a battery energy storage system (BESS), a much-needed source of grid stability, and a peak power source for the island. ASRE intends to own and operate the Project as an independent power producer (IPP), selling the power to Zanzibar Electricity Corporation (ZECO), Zanzibar's state-owned utility, via a long-term power purchase agreement. The Project will complement the Zanzibar Energy Sector Transformation Project (ZESTA), a $142M World Bank and Clean Technology Fund initiative whose objective is to "expand access to electricity service and to create an enabling environment for private-sector participation in the Zanzibar electricity sector."