Cemtrex Expanding into Energy Efficiency Carbon Credits Market
FARMINGDALE, N.Y., Oct. 26 /PRNewswire-FirstCall/ -- Cemtrex, Inc. (OTC: CTEX) announced today that the Company is expanding its scope of activities in the carbon credits market to include energy efficiency projects. Energy efficiency projects characterized by reduction in energy inputs and emissions include: refurbishment of power plants, combined cycle turbines, improvements of heating plants, process heat recovery, and facility space heating and lighting. "More than ever, companies are facing increased competitive pressures to produce high-quality products at lower cost and where energy is a significant cost component, companies will need to bring energy costs in line with best practice standards," said Mr. Aron Govil, CEO & President of Cemtrex. "If assessed and implemented properly, the returns from energy efficiency investments can be high and the technical risks relatively low and these energy efficiency projects once implemented will bring an average 5-20% overall reduction in energy consumption, thus providing subsequent CO2 emission reductions." Carbon credits are emission offsets, per the Kyoto Protocol, that are generated from energy efficiency projects which displace carbon emissions from traditional fossil fuel sources like coal, oil or gas with the subsequent reduction in greenhouse gas emissions. Companies, agencies and governments buy, sell, bank and trade carbon credits called Certified Emission Reductions or CERs. The Kyoto Protocol, adopted in 1997, went into effect on February 16, 2005. The agreement legally binds participating industrialized countries to reduce their emissions of greenhouse gases during the five-year commitment period of calendar years 2008-2012 as compared to baseline emissions in the year 1990. The Protocol does not set limits on the greenhouse gas emissions of developing nations. So far, the agreement has been ratified by 141 countries, representing over 61% of global emissions. The U.S. has not ratified the agreement. However, even though companies in the U.S. are not subject to Kyoto's emission caps, U.S. companies that operate in nations complying with the Kyoto Protocol do have to meet those countries' caps. Cemtrex is engaged in manufacturing and selling the most advanced and custom-engineered instruments for emission monitoring. The Company offers a complete range of Process and Air Emissions monitoring instruments and software for all pollutants regulated by the EPA, including dust, opacity, CO2, O2, SO2, NOx, CO, flow, moisture, ammonia, mercury and hydrocarbons. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies. Safe Harbor Statement This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. For further information please contact: Cemtrex, Inc. URL: http://www.cemtrex.com Email: firstname.lastname@example.org Aron Govil, CEO @ (516) 816-1400 This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.
SOURCE Cemtrex, Inc.
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