Apr 28 2009
TREE TOP INDUSTRIES, INC. (OTCBB:TTII) announced today that it has entered into an agreement to acquire 100% of BIOENERGY APPLIED TECHNOLOGIES, INC. ("BAT") in a stock-for-stock exchange offer. The closing, to take place on or before May 1, 2009, was inadvertently previously announced as having closed.
BAT is the originator of various proprietary, environmentally friendly technologies and patents in the areas of waste destruction, energetic materials, chemical recycling processes, and coal gasification. Additionally, they have several patents currently pending. Specifically, BAT has key intellectual property which has been applied to the construction of systems and equipment for the destruction of medical, biological, chemical, red bag and other hazardous wastes completely, without the adverse effects and high cost of incineration.
BAT also provides novel electrolytic technology that simplifies the production of biofuels, specifically biodiesel and its byproducts. All these products offer green, sustainable solutions to the problems of waste generation, waste collection and storage, and waste destruction.
"This acquisition should be a very significant strategic move for our company," stated David Reichman, Chairman and CEO of Tree Top Industries, Inc. "It will provide us with a growth platform in the global bioenergy industry, while at the same time promoting green, sustainable solutions for companies and communities, helping them to deal with the problems of waste and the challenges of protecting their environment on a global basis."
Upon closing, this acquisition should strengthen Tree Top Industries, Inc.'s position in the evolving "Green Business" market segment, while BAT should be able to accelerate the commercialization of its technology, expand its partnerships and build on its existing business platforms.
Source: Business Wire