VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 15, 2016) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINTION IN THE U.S. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS.
Targeted Microwave Solutions Inc. (TSX VENTURE:TMS)(OTCQX:TGTMF)(FRANKFURT:A2ACNT) (“TMS”, the “Company”), is pleased to announce the successful installation of its Generation 3.0 (“Gen. 3.0”) processing system at its commercial demonstration plant in King William, Virginia. “Completion of the Gen. 3.0 installation marks the most important milestone in the TMS commercialization strategy. Our re-designed Gen. 3.0 employs a radial new geometric design and venting system. Extensive computer simulations and material testing over the past year confirm that these two variables are crucial in improving throughput capacity and drying efficiency,” said Dr. James Young, Interim Chief Executive Officer and Chairman of the Board of Directors.
The Company plans to run several continuous processing trials of low-rank coal, wood biomass, and industrial clay from Nestlé-Purina’s nearby montmorillonite clay mine – three materials used by potential customers that the Company has already established relationships with. During this phase, the Company will actively seek to enter into commercial partnerships to deploy Gen. 3.0 systems across the foregoing industry segments to showcase the wide range of possible commercial applications for the TMS technology.
“Our goal to rapidly deploy the technology across various material segments is supported by a key competitive advantage that we believe our technology possesses, namely its modularity. After the various components of our reactors were fabricated, it took our team less than 3 weeks to dismantle the previous Gen. 2.0 system and install Gen 3.0. This plug and play functionality means that we have the capacity to get into the field quickly and provide rapid scale-up to meet the total processing needs of our target customers” said Steven L. Lawson, Chief Technology Officer.
“We continue to believe that our technology has the potential to be a game-changer. We have a lot of enthusiasm in our organization around the construction of the Gen. 3.0 system and we look forward to providing testing data to the market over the coming weeks and months. The various relationships we have established in the coal, clay, and bio-mass industries are keen to see our new system in action, and our top priority is to deploy the technology commercially in the field. I’m excited and proud to be involved in building an innovative clean technology solution that seeks to completely eliminate the need for combusting fossil fuels at manufacturing and heavy industrial plant sites,” said Dr. James Young, Interim Chief Executive Officer and Chairman of the Board of Directors.
On behalf of the Board of Directors,
Dr. James Young
Interim Chief Executive Officer and Chairman of the Board of Directors
About TMS Technology
TMS Technology is a microwave process developer specializing in clean emission, high-throughput industrial drying solutions. TMS’s proprietary microwave beneficiation systems are being developed to specifically address the increasing environmental costs of a cornerstone of the global manufacturing and processing economy, industrial drying. The TMS process represents a unique, vertical microwave system that may be deployed to dry and re-size industrial aggregates at high throughput capacity. TMS believes that its technology will allow for superior energy efficiency, process control and a clean emission profile, allowing TMS to deliver effective drying solutions that can fundamentally challenge the mainstream narrative that large-scale industry is incompatible with responsible, environmental policy. TMS has completed construction of a commercial-scale facility in King William County, Virginia, U.S.A., and has entered into joint ventures for China and India to develop and market its technology.
For further information, please visit www.tmsenergy.com or review the Company’s documents filed on www.sedar.com.
This news release contains certain statements which are, or may be deemed to be “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that we expect or anticipate may occur in the future. Forward-looking statements consist of statements that are not purely historical and, in this news release, include, without limitation, statements regarding: the timing and completion of the private placements, insider participation in the non-brokered private placement, the aggregate proceeds expected to be raised from the private placements and the expected use of proceeds. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends”, “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual results, performance or achievements or the actual results or performance of the industries and markets in which we operate and intend to operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements involve significant uncertainties and risks, should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in our forward-looking statements, including the ability to obtain all necessary stock exchange approvals, our ability to negotiate and executive definitive documentation and to fulfill any conditions precedent contained therein, the general level of interest to participate in the private placements and such other matters described in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon our forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the photos associated with this press release, please visit the following links:
+1 (778) 995 5833