source26
December 5th, 2005, 06:06 AM
NGB Technologies to generate power from household waste
Each $3.5 million facility can serve four 30-storey high-rises, and electricity will be sold to tenants at half the IEC rate.
NGB Technologies For Industry & Conveying Ltd. has started representing Vista International, which is proposing alternative energy projects in residential neighborhoods. Under the proposal, the company will collect garbage and sludge resulting from sewage treatment, and incinerate it to generate electricity. The company plans to sell the electricity to residents, as alternative energy. Each $3.5 million facility can serve four 30-storey high-rises. The 100-sq.m. installations are built underground, above which a park can be built.
NGB Technologies CEO Meni Shani believes that the company can obtain discounts on local property taxes interested in installing the facilities, because local authorities can save of garbage disposal and sewage treatment costs. He said electricity produced by the generators could be sold to residents at $0.045 per kilowatt/hour, half the rate charged by Israel Electric Corporation (IEC). The lower rate is made possible by subsidies the power producers will obtain from the Ministry of National Infrastructures alternative energy encouragement fund.
Shani predicts that the generators will make a make back the investment within five years. A pilot facility is currently operating in China. He said a similar facility would soon be built in the US, where operating standards have already been set. Israel currently lacks operating standards for building similar facilities.
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2005
Each $3.5 million facility can serve four 30-storey high-rises, and electricity will be sold to tenants at half the IEC rate.
NGB Technologies For Industry & Conveying Ltd. has started representing Vista International, which is proposing alternative energy projects in residential neighborhoods. Under the proposal, the company will collect garbage and sludge resulting from sewage treatment, and incinerate it to generate electricity. The company plans to sell the electricity to residents, as alternative energy. Each $3.5 million facility can serve four 30-storey high-rises. The 100-sq.m. installations are built underground, above which a park can be built.
NGB Technologies CEO Meni Shani believes that the company can obtain discounts on local property taxes interested in installing the facilities, because local authorities can save of garbage disposal and sewage treatment costs. He said electricity produced by the generators could be sold to residents at $0.045 per kilowatt/hour, half the rate charged by Israel Electric Corporation (IEC). The lower rate is made possible by subsidies the power producers will obtain from the Ministry of National Infrastructures alternative energy encouragement fund.
Shani predicts that the generators will make a make back the investment within five years. A pilot facility is currently operating in China. He said a similar facility would soon be built in the US, where operating standards have already been set. Israel currently lacks operating standards for building similar facilities.
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2005