OnMay 15, 2013 Pacific Green Technologies Inc. (Ticker Symbol “PGTK”) enteredinto and closed an agreement to acquire Pacific Green Energy Parks Limited, thesole shareholder of Energy Park Sutton Bridge Limited (“EPSB”), a companyincorporated in the UK.
EPSBhas obtained planning permission to develop a 49 MWe biomass power plant onland located at Sutton Bridge, Lincolnshire, UK (the “Plant”) and holds theoption to purchase the property on which the Plant will be built.
Theentire Plant is currently anticipated to cost GBP165m (US$250m) and intends touse the ENVI-PureTM Emission Control System for removal of anyhazardous gases and pollutants generated by the Plant. PGTK owns the marketing rights to theENVI-PureTM Emission Control System.
EPSBManaging Director, Chris Williams said; “We are very pleased to be the firststep within PGTK’s strategy to build a dedicated Biomass and Waste to Energy PowerPlant Development Group”.
PacificGreen Technologies Inc.-“Where energy no longer needs to cost the earth”