Mass Megawatts Inc MMMW

Mass Megawatts (MMMW) Announces Aluminum Micro Smelter

[AveragePenny]

BOSTON, Mass., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Mass Megawatts (OTC Pink: MMMW) www.massmegawatts.com announces that much of its electricity generated from the recently announced 160 kW community solar project will be used to power a small aluminum recycling facility. The solar energy will power at least one electric induction furnace. The electric current goes through an inductor of copper coil and the aluminum to be heated is placed inside the inductor. The small 160kW kW community solar project using the patent pending solar tracker is taking advantage of the finance incentives of developing on a brownfield area or location with environmental challenges. Although this project is outside the designated opportunity zone which would also provide incentives for low-income communities, larger projects are being planned in the same neighborhood that are inside in geographical location designated as an opportunity zone. Those projects would take advantage of government incentives for selling to low-income electric users. Most importantly, the use of virtual net metering protects the finance interest of the project by having the actual project at a different location than the residence of the low-income customer. If the electricity user cannot pay the electric bill, it would be easier to redesignate another user for maintaining the revenue stream of that solar power unit.

The project is projected to have a pay for itself in about three to four years based on Massachusetts electric prices with current federal and state incentives. The 160-kilowatt project is designed to be able to reduce the cost of solar power by employing a furling technology borrowed from wind technology for protection in the case of high wind events. The technique improves the efficiency of solar arrays without adding significant additional expense. Mass Megawatts is responsible for the site development, fabrication, installation, and the interconnection obligations of the solar project. The solar project is in a low-income area in Worcester, Massachusetts.

https://www.globenewswire.com/news-release/2022/01/10/2363910/0/en/Mass-Megawatts-MMMW-Announces-Aluminum-Micro-Smelter-as-Anchor-for-its-Small-Community-Solar-Project.html