World Waste Technologies, Inc. (OTCBB:WDWT), San Diego, has announced that it is shifting its focus and will now concentrate on producing renewable energy from post-recycled residual municipal waste (MSW). To accelerate the development of this renewable energy platform, the company plans to add a small-scale gasifier to its Anaheim Research Facility in order to demonstrate and gain operating experience with the unique aspects of MSW gasification. This enhanced research capability is also expected to enable piloting technologies related to the company's previously announced provisional patent for ethanol production from catalytic conversion of syngas.
Consistent with this new direction, the company also announced today that it has been short-listed in the selection process to provide a total of 60 megawatts of renewable electric power to a major California utility. World Waste has made a good faith deposit to the utility of $60,000 for each of three sites in order to continue negotiations toward completing power purchase agreements (PPAs) with the utility. Each of the three projects are expected to process approximately 1,000 tons per day of residual municipal solid waste that has already gone through curbside recycling programs or certified recycling facilities, and which is currently destined for landfills.
World Waste's short-listing selection was made in response to a request for offers (RFO) made by the utility as part of its effort to increase the amount of energy generated from renewable sources. This mandate exists due to the California Renewable Portfolio Standard established by SB 1078 in 2002 which requires certain retail electricity sellers to have 20% of their retail sales come from renewable energy sources. The California Energy Commission reports that currently only 11% of the State's electricity is derived from renewable sources.
John Pimentel, CEO of World Waste Technologies, Inc. said, "We believe a significant opportunity in California and numerous other states has been created by the desire to produce more power using renewable fuels. The Schwarzenegger Administration has expressed a desire to raise the California requirements to 33% renewable sources by 2020, and at least 22 other states have instituted some form of Renewable Portfolio Standard. We are delighted to be in the process to negotiate for these three long-term power purchase agreements."
Pimentel continued, "For each site we will need to specify the facility...