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NEWS RELEASE - February 10, 2003
First American Scientific Corp (FASC ) and Alternative Green Energy Systems Inc. (AGES) announce receipt of an additional investment of $ 400,000 from HydroQuebec Capitech Inc. (HQC) C. Kantonen, Chief Financial Officer, and Bill Barber, President of AGES, are pleased to announce the receipt of a cheque in the amount of $ 400,000 Cdn from Hydro Quebec Capitech Inc. This is the second installment under an agreement reached last year between First American Scientific Corp, Thermix Combustion Systems Inc. and HQC to develop and market the KDS Combustion System. Total investment to date from HydroQuebec Capitech Inc is $ 1,000,000 Cdn. Over the past 12 months, engineers from AGES and FASC, supported by HydroQuebec, have been preparing and adapting FASC's KDS Micronex System to convert heavily moisture laden bio-mass and pulp sludge into a fine, dry, combustible fuel. The drying takes place during KDS process, eliminating the necessity to add costly supplement fuel for drying. For large saw mills or pulp & paper operations, energy costs, disposal and transportation costs can be dramatically reduced while at the same time, reducing harmful materials from polluting the environment. The first system to be put on line is currently being installed at Atlantic Packaging Limited's de-inking plant in Whitby, Ontario, Canada. The KDS system will be part of a full run 24 hour a day pulp mill operation and will be improved and adapted to de-water Atlantic's bio-solids/ sludge waste stream. However, Atlantic's interest lies not only in the KDS system's ability to produce a combustible powder from its waste sludge, but our engineers have proven the system's ability to separate out the inert non-combustible clay, leaving a higher BTU value in the combustible fiber and a valuable pure white kaolin clay by-product that can be sold or re-cycled back into the paper making process. The bottom line is no more disposal costs, a burnable high BTU fiber, and a kaolin by-product that may be recycled into certain paper products. TRUE TOTAL RECYCLING for many applications in the forest industry. According to Mr. Barber " Primary/Secondary pulp sludge is typically contains 80 % + water, making it difficult and costly to handle. Through a system of recycling, the patented KDS Micronex machine can dewater these materials down to 16% water content or less. At that point, the material may be burned as conventional fuel in a hog boiler, in a standard boiler using the Thermix combustion technology, or transported and disposed of at a much reduced cost. Testing has also proven that the KDS system will remove a significant level of all pathogens from sludge in addition to eliminating more than 98% of all fecal coli forms, salmonella and e-coli bacteria. We thank HydroQuebec Capitech for their confidence and support in our project as we progress through the final stages of development, and into the marketing phase." Certain information and statements included in this release constitute forward-looking statements within the meaning of Federal Private Securities Litigation Reform Act of 1995. ON BEHALF OF THE BOARD OF DIRECTORS |