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Posted On: 09/04/2024 9:51:04 AM
Post# of 13035
$SNPW>Ceo setting record straight on Previous Projects.
* Corporate Ads: Is there a future for the SNPW MedRecycler project?
Nick Campanella: We have not taken that project off the table but we did not renew
MedRecycler LLC since it was a non-entity holding company. After the Rhode Island State changes we decided to let that non-renew. MedRecycler-RI Inc was removed from SNPW when we could not obtain a state bond unless we removed it from the SNPW business plan. For doing that we provided a 51% profit participation rights agreement with no liabilities or expenses to the company. We have since settled all our debts and obligations for that entity which did not impact SNPW with any legal or financial burdens.
* Corporate Ads: Are plans still going forward for the Durango, Mexico solar project?
Nick Campanella: We had all funding lined up and property and designers/EPC prepared. When we were ready to proceed the Mexican government made some drastic changes to the rule for 3rd party power generation which made our funders and banks BBVA concerned and so the project was put off for now. SNPW may entertain this opportunity again when the Mexican administration changes their regulations.
https://www.einpresswire.com/article/63786702...y-projects
icymi
* Corporate Ads: Is there a future for the SNPW MedRecycler project?
Nick Campanella: We have not taken that project off the table but we did not renew
MedRecycler LLC since it was a non-entity holding company. After the Rhode Island State changes we decided to let that non-renew. MedRecycler-RI Inc was removed from SNPW when we could not obtain a state bond unless we removed it from the SNPW business plan. For doing that we provided a 51% profit participation rights agreement with no liabilities or expenses to the company. We have since settled all our debts and obligations for that entity which did not impact SNPW with any legal or financial burdens.
* Corporate Ads: Are plans still going forward for the Durango, Mexico solar project?
Nick Campanella: We had all funding lined up and property and designers/EPC prepared. When we were ready to proceed the Mexican government made some drastic changes to the rule for 3rd party power generation which made our funders and banks BBVA concerned and so the project was put off for now. SNPW may entertain this opportunity again when the Mexican administration changes their regulations.
https://www.einpresswire.com/article/63786702...y-projects
icymi
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