SALT LAKE CITY, April 24, 2013 /PRNewswire/ -- Terra Systems, Inc. (TSYI.PK) is pleased to announce the company's expansion into Indonesia where it will use its patented coal drying technologies to process Low Rank Lignitic Coal (LRC) into high value, custom formulated briquettes to be sold for power generation throughout Asia.
Company President George Ford stated "Coal usage in the US is in decline, but in Asia it is rapidly expanding. This move will re-position Terra Systems to become a leading player for upgrading Indonesian coal. Our processes have been commercially proven at 28 plants here in the US, and we know we can replicate that again in Indonesia."
The company is finalizing the takeover of a joint venture agreement from GeoPacific Energy Corporation on a 90,000-hectare (347 square mile) coal concession in Lampung, Indonesia that contains 2 Billion tons of proven and inferred reserves of LRC. The company expects to ship its first vessel of processed coal briquettes by the end of the year.
TSYI is a US coal technology company specializing in drying, processing and briquetting low grade coals using patented technologies developed over the last 20 years by its senior engineers.
Note: Certain statements herein may be forward-looking statements within the meaning of federal securities laws and Terra Systems, Inc. intends that such forward-looking statements to be subject to the safe-harbor created hereby. Forward-looking statements include Terra Systems, Inc. expectations as to the managing and marketing of its business within the meaning if the Private Securities Litigation Reform Act of 1995 regarding future events and our future results that are based on current expectations, estimates, forecasts and projections about the industries in which we operate and the beliefs and assumption of our management. Actual results may vary materially from such expectations. Words such as "expects" "anticipates" 'targets" "goals" "believes" "seeks" "estimates" variations of such words and similar expressions are intended to identify such forward-looking statements. Any statements that refer to projections of our future performance, our anticipated growth and trends in our business and other characterizations of futures events or circumstances are forward-looking. Although Terra Systems, Inc. believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no reassurance that our results of operations will not be adversely affected by such factors. Unless legally required, we undertake no obligation to revise or update any forward-looking statements of any reasons. Readers are cautioned not to place undue reliance on these forward-looking statement, which speak only as of the date of this statement.
SOURCE Terra Systems, Inc.