News Release
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NEWS RELEASE - September 9, 2004
First American Scientific Corp. (FASC.OTC. BB) signs $ 1,000,000 USD funding agreement with The Waste and Resources Action Programme ( WRAP ) in the UK
David Dungate, Vice President of First American Scientific Corp., is pleased to announce the signing of a $1,000,000 USD agreement which includes the sale of one complete KDS System to the UK government sponsored Waste Resources Action Program (WRAP).
Under the agreement, WRAP has agreed to provide funding to demonstrate the KDS technology and to develop value enhanced end-products from the output of the KDS machine, and will initially provide $ 1,000,000 USD for the purchase and installation of one complete “waste to energy KDS system” to be located at an industrial site in England. The fund will also pay for market research, scientific research, re-design and adaptation costs for the equipment and supplementary systems for industry-specific applications. FASC engineering staff will manage the project which will run for approximately 18 months. The goals of the project are to demonstrate the KDS technology in a working environment, optimize ancillary equipment to improve its efficiency, and identify markets for recycled end products.
WRAP was created by the UK Government to work with industry, the public sector and the wider community to bring about positive change in the management of waste in the UK by increasing recycling. Set up as a not-for-profit company in 2000, WRAP is backed by substantial Government funding in DEFRA, DTI and the devolved administrations in Scotland, Wales and Northern Ireland. Its particular focus is on creating stable and efficient markets for recycled materials and products and removing barriers to waste minimization, re-use and recycling. See www.wrap.org.uk
First American Scientific Corp. is the owner of the patented KDS Micronex™ System, a unique one step process for drying and grinding waste biomass and other waste materials into a fine dry combustible fuel or value added industrial feedstock. First American Scientific Corp.’s president, Brian Nichols comments, “We are extremely fortunate to have won the support of the UK government and to draw on the resources of the WRAP programme to assist us in introducing our KDS technology into the UK and the European Union market where stringent environmental legislation, high disposal for waste and high energy costs create a significant opportunity for our technology. The project will commence immediately.”
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
Brian Nichols, President
FASC: (NASD Bulletin Board)
Web Site: www.fasc.net
Investor Relations: Toll Free (877) 778 - 7101 or (800) 561- 8656
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