Harmonic Energy Announces Funding Goals & Review of Grant Applications
LONDON--(Marketwire - Jan 21, 2013) - Harmonic Energy Inc. (OTCQB: ASUV) is a company focused on vertically integrated tyre manufacturing and recycling using an innovative approach to energy efficiency and sustainability, has initiated its funding negotiations and due diligence on investment structuring with several lenders. The effort is being led by Jamie Mann, Chief Executive who states, "The objective is to achieve a combination of equity based financing, combined with possible asset backed lending using innovative loan, leasing and project financing structures that will allow the company to achieve its goals while also offering the least amount of dilution to its stock. The total funding objective in our business plan calls for approximately thirty million dollars over the next twenty four to thirty six months. The reception to the business plan and cash flows for the company has had excellent response" stated Mr. Mann. The anticipated funding will provide the necessary capital to complete the acquisition of the company's strategic targets and begin the work on the detailed engineering and construction of the company's integrated pyrolysis and gasification units.
Harmonic's financial advisors are currently reviewing grant applications which could also help support the establishment and demonstration of its integrated tire technology applications in the United States and the United Kingdom. Within the EU and U.S. there are substantial incentives for green and sustainable environmental companies providing advanced solutions to waste and energy. Applying for a number of these grants could unlock an estimated ten million in additional funding sources for the company.
The management team is also preparing presentations for universities and educational institutions who may be interested in forming strategic alliances and partnerships in application research for expanding the company's business plan. Harmonic is interested in working with those educational institutions that are interested and suitable for the establishing and creating an Environmental Engineering Apprenticeship Programme which is a key part of Harmonic's progressive approach to career development in the tyre manufacturing and recycling sector. Harmonic also believes that the establishment of such a programme would give the company access to highly qualified staff to aid in the role out of its manufacturing and recycling facilities.
ASUV believes that its vertically integrated tyre manufacturing and recycling systems hold the key to a profitable, sustainable market for the growth of a greener tyre manufacturing sector. ASUV plans to compete alongside major international corporations striving for more sustainable tyre manufacturing solutions and commodities, such as Cooper Tire and Rubber Company, Kumho Tire Co., and Pirelli & C. SpA.
About Harmonic Energy Inc.
Harmonic is a company that focuses on a comprehensive solution to the disposition of scrap tyres worldwide. Harmonic's plans include the utilization of proven technologies that ensure each scrap tyre is either remanufactured and put back on the road as a new tyre or is completely recycled and reduced into marketable chemical commodity products. Both the tyre remanufacturing and carbonization technologies that will be utilized by Harmonic are commercially proven and have viable operating commercial facilities.
Harmonic plans to be the first company to integrate these two technologies to provide a comprehensive 'closed-loop' solution for the management of scrap tyres. By design, Harmonic plans to offer a solution that replicates nature's intentions by developing symbiosis between waste, energy supply and sustainable growth. For more information please visit ASUV's website ~ www.harmonicenergyinc.com.
Safe Harbor
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act 1933 and Section 21B of the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Harmonic Energy Inc and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Harmonic Energy Inc will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
