For Immediate Release
Powerspan
Partners with The Andersons
to Produce and Market ECO™ Fertilizer Co-Products
NEW DURHAM, N.H., November 4, 2002 —
Powerspan Corp., developer of ECO™ multi-pollutant control
technology for power plants, has signed an agreement with The Andersons
Agriculture Group, LLP, whereby The Andersons will manage production
and marketing of fertilizer co-products from ECO systems for power
generating customers. The Andersons, Inc. is a diversified agricultural
company with expertise in the formulation, marketing, and transport
of nitrogen, phosphate, potassium, and compounded fertilizer products
for agricultural use.
The ECO system oxidizes pollutants in the flue
gas of coal-fired power plants and collects them in a compact wet
scrubber and wet electrostatic precipitator. The technology avoids
landfill disposal of waste by converting the sulfur dioxide and
nitrogen oxides removed from the flue gas into high-quality, environmentally
safe ammonium sulfate nitrate fertilizer. Under this alliance, The
Andersons will operate the co-product production plants at ECO sites.
In addition, The Andersons will market the fertilizer using its
extensive regional network of dealers and distributors.
Powerspan Chairman and CEO Frank Alix noted
the importance of this partnership in deploying ECO technology.
"The alliance of Powerspan and The Andersons will allow the
power generator to focus on running the power plant while The Andersons
operates a valuable income-generating asset that will lower the
overall cost of air emission control."
Mike Anderson, President and CEO, The Andersons,
Inc., said, "We are excited to be working with Powerspan and
the electric utility industry on this promising new technology that
will provide benefits to both the environment and the agricultural
community. This is a great opportunity to create value for our agricultural
customers while reducing both air emissions and landfill wastes."
About Powerspan
Powerspan Corp., a clean-energy technology company based in New
Durham, N.H., is engaged in the development and commercialization
of proprietary multi-pollutant control technology for the electric
power industry. Company research and development efforts focus on
the application of its technology to reduce the environmental impact
of power generation. More information can be obtained at www.powerspan.com.
About The Andersons
The Andersons, Inc. (NASDAQ: ANDE) is a diversified agribusiness
and retailing company based in Maumee, Ohio. A prominent player
in the grain and agricultural nutrient supply industry, the company
has diversified into other operations, including several processing
and manufacturing businesses. The company formulates and distributes
one and a half million tons of dry and liquid fertilizers every
year to a network of hundreds of dealers and distributors throughout
the U.S. Corn Belt. Visit www.andersonsinc.com
for more information.
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Contacts:
Powerspan Corp.
Stephanie Procopis
Director of Marketing
Phone: (603) 859-2500, ext. 20
Email: sprocopis@powerspan.com
The Andersons, Inc.
Gary Smith
Vice President, Finance & Treasurer
Phone: (419) 891-6417
E-mail: gary_smith@andersonsinc.com
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