SNV signs MOU in EUROPE! VANCOUVER, June 21 /CNW/ - Adam Sumel, President and CEO of Sonic
Environmental Solutions Inc. (SNV-TSX Venture Exchange) today announced that
the Company has completed preliminary discussions in eastern Europe which
could lead to a joint venture operation with an established environmental
remediation company. The two companies signed a Memorandum of Understanding
(MOU) which calls for the completion of a preliminary business plan and
includes a priority negotiation agreement.
Adam Sumel commented "We were very pleased with our initial meetings in
Canada and Europe with this group. The immediate opportunities are for the
treatment of liquid PCB wastes and by entering this market we will be well
established with a proven operator of our technology when the market demand to
address PCB contaminated soils increases. Many eastern European countries are
in the process of applying for membership, or have been recently accepted, to
the European Union. Environmental regulations in these countries are therefore
rapidly changing along with the need for cost-effective and environmentally
sustainable solutions, such as those offered by Sonic."
The treatment of liquid PCB wastes can be achieved through a simplified
and smaller scale version of Sonic's PCB Sonoprocess(TM) which is already
operational at commercial scale in Canada. Sonic has focused on the PCB soils
market in North America and Japan as this is where the primary market
opportunity lies in the industrialized countries which have already dealt with
much of the PCB liquid waste treatment issues. In many parts of the world
where economies are in transition and the pace of environmental stewardship is
just now accelerating, the priority is to first address the source of
contamination such as PCB oils and capacitors, etc.
Paul Austin, Vice President of Sales and Marketing for Sonic, stated
"Sonic is utilizing a joint venture approach in all markets where possible as
we believe that this offers the greatest return to our shareholders. This
market entry model enables Sonic to address more opportunities at this time
than would be possible by establishing our own operations in new markets. The
key to success is finding and establishing relationships with the right
partners who are eager to introduce an environmentally-friendly and
competitive solution."
Sonic is a technology company with a patented sonic generator technology
that can be used to create or enhance physical, chemical and biological
processes. Sonic intends to develop each Sonoprocess(TM) application in
partnership with industry leaders in the application area. Through such joint
venture partnerships, the Company plans to exploit a number of commercial
opportunities.
Sonic Environmental Solutions Inc.
The Sonoprocess(TM) Company
Adam R. Sumel
President & CEO
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