NEW DURHAM, N.H., Nov. 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.”
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.