Cemtrex Sees New Opportunities From the Cap and Trade Legislation

Jun 02, 2009, 10:00 ET from Cemtrex, Inc.

FARMINGDALE, N.Y., June 2 /PRNewswire-FirstCall/ -- Cemtrex Inc. (OTC: CTEI) announced that it sees new opportunities emerging due to the boost received by President Barack Obama's "cap and trade" climate change initiative to fight global warming by the House of Representatives Energy and Commerce Committee.

The bill introduced by the President details his plan for a new market-driven system for reducing greenhouse gas emissions. Representative Henry Waxman, the committee's chairman, supported the bill because he found tremendous support for this initiative from industry, labor and environmental groups all across the country.

The cap and trade bill aims to cut U.S. greenhouse gas emissions that contribute to global warming by 17 percent below 2005 levels by the year 2020 and 83 percent by 2050. This initiative also requires power plants to generate 15 percent of their electricity by 2020 from renewable energy sources, such as wind and solar power. The main part of the bill is a cap and trade system that would gradually reduce the amount of greenhouse gases from utilities, oil refineries, steelmakers and other companies by requiring them to have permits to discharge their emissions. Companies that pollute above their limit would have to buy permits from less polluting companies, thus encouraging firms to quickly cut their emissions so they can make a profit from selling the permits that initially will mostly be issued by the government for free.

Cemtrex expects tremendous growth for its greenhouse gas reduction technologies, energy efficiency products, and emission monitoring system in the coming year due to this legislation.

Cemtrex Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. and filtration products for the industry. Cemtrex also markets Green DCV, a innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems. Cemtrex provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the selling of carbon credits globally. 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.

    Contact Information:

    Arun Govil
    Cemtrex Inc.
    T: 516-816-1400


SOURCE Cemtrex, Inc.