Nupower Signs Letter of Intent to Acquire Equipment from Remetco

MPM Technologies, Inc. announced that its wholly owned subsidiary Nupower, Inc. has received a Letter of Intent from Remetco Inc. for the purchase of Skygas equipment for on-going projects and technology usage rights for the future development of waste-to-energy projects in Canada.

Remetco Inc. has developed a new closed loop recovery system for both precious metals and its secondary by-products from electronic scrap, as well as spent tires, plastics, municipal solid wastes, automotive catalytic converters, as well as other industrial and pharmaceutical spent catalysts.

The first plant, located in Welland, Ontario, will process waste at the capacity of 500 tons per day. The capacity of the Welland plant will be expanded to 5,000 tons per day in five years.