Primary Energy Recycling Corp completes share consolidation
Renewable Energy | 2011-05-18 04:42:27
Primary Energy Recycling Corporation (TSX: PRI), a clean energy company that generates revenue from capturing and recycling recoverable heat and byproduct fuels from industrial processes has completed the previously announced consolidation of its issued and outstanding common shares
By Paul Ploumis
OAK BROOK, IL, (Scrap Monster): Primary Energy Recycling Corporation (TSX: PRI), a clean energy company that generates revenue from capturing and recycling recoverable heat and byproduct fuels from industrial processes has completed the previously announced consolidation of its issued and outstanding common shares.
The consolidation was implemented on the basis of one post-consolidation common share for three existing common shares. Primary Energy expects that the common shares will begin trading on a consolidated basis on the Toronto Stock Exchange at the opening of trading on May 19, 2011. The consolidation has reduced the number of common shares outstanding from 134,118,561 to 44,706,186.
Primary Energy Recycling Corporation owns a majority interest in Primary Energy Recycling Holdings LLC ("PERH"). PERH, headquartered in Oak Brook, Illinois, indirectly owns and operates four recycled energy projects and a 50 per cent interest in a pulverized coal facility.
The Projects have a combined electrical generating capacity of 283 megawatts and a combined steam generating capacity of 1.8M lbs/hour. PERH creates value for its customers by recycling recoverable heat and byproduct fuels from industrial and electric generation processes and converting it into reliable and economical electricity and thermal energy for resale back to its customers.