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GDT TEK Subsidiary RTR Acquires Financing for 1.5 Megawatt Waste Heat to Electricity Project to Supply Power via PPA to Pacific

^{Published on 2010-06-29 06:20:45 - Market Wire}
 

ORLANDO, FL--(Marketwire - June 29, 2010) - Ewire -- GDT TEK (PINKSHEETS: [ GDTK ]) today announced that wholly-owned subsidiary RTR Global Investments, LLC has acquired financing from Saulsbury Hill Financial LLC ([ www.saulhill.com ]) for the building and deployment of waste heat to electricity conversion equipment to supply electrical power to Pacific Gas and Electric as per the Company's previously announced Power Purchase Agreement (PPA) with PG&E.

The twenty (20) year term of the PPA starts upon completion of GDT TEK's waste heat to electricity system and when the facility begins generating and delivering power to the PG&E grid. The PPA details that PG&E will purchase all electricity produced by GDT TEK's subsidiary LLC up to 1.5 Megawatt (MW) at the Company's installation at the Milpitas Landfill at 1600 Dixon Landing, Milpitas, California. The price of the electricity is tiered over the twenty year term of the PPA and purchase prices ranges between $.09/KW to $.12/KW.

GDT TEK CEO Al Reda stated, "Saulsbury concentrates on renewable energy, ESPC, DG, DHCP and related financings, and they have funded over $720 million in such projects for a diverse range of customers. Their client base ranges from the United States Federal Government to the most rural of public schools -- and we are pleased to have the opportunity to work with them. Having such a highly qualified financial partner will be integral to driving the successful implementation of our waste heat to electricity systems. We look forward to working with them to build the economic foundation for our Company, which will allow us to begin the site engineering studies and equipment specification process for expansion of the Milpitas installation."

For the full release please follow this link: [ http://www.ewire.com/display.cfm/Wire_ID/5489 ]