Vencor International Introduces First Torrefaction Machine
01/29/2015
BOULDER, CO--(Marketwired - Jan 29, 2015) - VENCOR INTERNATIONAL, INC. (OTC PINK: VCOR) announced today that the first torrefaction unit utilizing recently acquired technology has been completed and is now online.
The machine pictured here is the first of its kind and is now online and capable of producing 30,000 tons of torrefied wood annually. Vencor's Business Plan includes several of the machines operating at full capacity to meet the growing demand for its products. As a result of the Company's recent acquisition of torrefaction technology, the machines manufactured by Virginia based, Torretherm, LLC are produced for a fraction of the cost of other machines with similar capabilities. The reduced cost of the machines allows Vencor to manufacture its torrefied wood products at a price necessary to compete in the alternative energy marketplace.
Vencor International is in the business of providing torrefied wood products to customers around the world. Torrefied wood is made from timber field waste using a process called torrefaction. Torrefied wood is a renewable energy source that can replace traditional coal in coal-fired power plants around the world.
James Gaspard, CEO of Vencor International, Inc., stated, "We are pleased to have the first machine completed and in operation. Our plan is to have three of these machines operating during 2015. We are now moving very aggressively to capture as much business as possible and we couldn't have done it without the Torretherm machine. We recently announced that we have received a Purchase Order to produce 3,000 tons of torrefied wood called Bio-coal. This order will be produced using the new machine. We are always looking for ways to trim our costs in order to compete with other renewable energy products. The money saved in capital expenditures will be used to maximize production in order to complete the orders that we have in hand. This machine is capable of generating approximately $4 million dollars in annual revenue for us. We will be placing an order for our second machine in the next few weeks."
For more information about Vencor International, Inc., visit the Company's corporate website: vencorintl.com.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "plan," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
CONTACT:
Vencor International, Inc.
303-476-9998
Email Contact
vencorintl.com
@vencorintl
