
GDT Tek, Inc., Provides Update on Equipment Move and Major Funding for PG&E PPA
ORLANDO, Fla., July 28, 2011 /PRNewswire/ -- GDT Tek, Inc. (OTC: GDTK) provides update on the equipment move and the status of the major funding for the PPA agreements with PG&E. As of this date the 150KW PHOENIX has been moved and is now being updated to make the equipment more efficient which will take about 4 weeks. The request for a quote for the manufacturing and installation of the equipment for the 6 PPAs with PG&E will be out by August 17, 2011. The Company will be spending $23 million to deploy GDTK's equipment at the 6 PG&E - Power Purchase Agreements (PPA) landfill sites. Those sites comprised of six 1.5 MW systems fully deployed will produce up to 9MW of electricity.
Bo Linton, President of GDT Tek stated, "GDT Tek suppliers have received over $200,000 to date of the $300,000 scheduled to fund the relocation of our 150KW PHOENIX system to American Canyon. We are expecting the system to be on line in 3 months generating revenue for the Company. The Company is now preparing a Request for Quote to manufacture and install the equipment at the six landfill sites to produce electricity as per our Power Purchase Agreements with PG&E. Our expectations are to start site development before the end of the year at each location preparing the sites for installations which should begin at the start of 2012."
Mr. Linton further stated, "Now that the Company has now filed its 10K for 2010 and is now working on the 10Q for September 2010, which we expect to file within four weeks, that will leave the 2 Qs for December 2010 and March 2011, and the 10K for 2011. Based upon our schedule we are expecting to be current with all our filings before the end of this year."
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About GDT Tek
GDT Tek, Inc. is an Orlando, Florida-based publicly traded company (OTC: GDTK) focused on renewable and sustainable energy technologies. The company has licensed patented waste heat to electric power generation technology and is driving its adoption by power plants, landfills and other waste-heat generating industries. GDT Tek's waste heat to electricity systems are powerful enough to serve as a primary energy source, highly efficient, immediately cash-flow positive when installed under a Power Purchase Agreement and are scalable with system sizes from 150 KW/Hr to 5000 KW/Hr currently available. The GDT Tek system has been proven through a long-term five year installation at a San Jose, California-area landfill. Waste heat captured from landfill-generated methane gas generator engine exhaust and radiator jacket coolant systems is used by the GDT Tek system to generate electricity which is then sold to the grid. Professor Robert W. Dibble of the University of California at Berkeley assessed the GDT Tek system and stated that, "Of the many technologies that I have evaluated over the course of the past several decades, GDT Tek's heat to power conversion solution has proven to be the most reliable, versatile, efficient, lowest emissions, and overall cost-effective solution available in today's changing world market."
RTR Global Investments, LLC is a wholly owned subsidiary of GDT Tek, Inc. It holds projects, contracts, and power purchase agreements for its parent company GDT Tek, Inc.
GDT Tek, Inc.'s website is www.gdttek.com, which is in the process of being updated; please sign up for our newsletter (http://www.gdttek.com/info-signup.php) for future information about the company.
Safe Harbor Statement: This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as GDTK or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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