SAN DIEGO, April 18, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Astra Energy Inc. (OTCQB: ASRE) (“Astra” or the “Company”), is proud to announce an initial equipment sale and the formation of a joint venture with Astra Regreen India (“ARI”), an Indian corporation. ARI will hold exclusive rights for sales, marketing and distribution and establish a first-of-its-kind Municipal Recovery Waste Facility (“MRF”) in the Southern States of the Republic of India.
Astra will receive a project deposit of $100,000 USD, an equipment deposit of $1,800,000 USD for the sale of the first 15 Ton Per Hour (“TPH”) Regreen Total Waste System (“TWS”), and the balance first tier from operations. Upon successful implementation of the first installation, ARI is required to place orders for five more Regreen TWSs ranging between 3TPH to 15TPH capacity within 36 months. Additionally, Astra will hold a carried interest in the revenues of all future projects within the territory.
The "India Green Project" will consist of constructing a 30,000-square-foot facility at a designated landfill that will initially host a 15TPH Regreen TWS to process a minimum of 300 tons of municipal solid waste and agricultural waste per day. The landfill will provide a 25-year concession on land and feedstock (MSW and agricultural waste). Once processed through the Regreen TWS, the output will consist of low sulfur, bacteria and odor-free, high BTU and calorific-value energy pellets, as well as other valuable and marketable commodities to be sold in the global market. The first deployment will begin within six months.
"India has a huge challenge in the manner in which it must address its mammoth existing and ever-growing garbage problem. With the Regreen Total Waste System, we have the unique opportunity to solve this problem in a responsible way and have a truly positive impact on the environment," stated Anand Shanmugam, president of Astra Regreen India.
"Demonstrating the business case for the first MRF in the Republic of India that will divert 95% of its waste from the landfill is something Astra is looking forward to. India has the potential to be a huge and growing market for Astra and the Regreen Technology," stated Douglas D. Hampton, president and CEO of Astra Energy California, Inc. "We are fortunate to be dealing with entities and municipalities that are dedicated to a real positive impact on the environment and the betterment of the health and welfare of its people.”
About Astra Regreen India Pvt Ltd.
The new entity Astra Regreen India Pvt Ltd. (“ARI”), based in Chennai, India, was formed to bring together an experienced group of successful businessmen with a track record of years of successful operations in the USA and India region. They will be focusing on advancing opportunities related to manufacturing and technology development within the clean and renewable sector. ARI has already made significant inroads with governmental entities in the Southern States of the Republic of India that are excited to see the implementation and success of the India Green Project.
About Astra Energy Inc.
Astra Energy Inc. is an integrated solutions provider investing in and developing renewable and clean energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs.
Astra’s corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet and the Company’s investors.
Its goal is to create a more secure and sustainable power sector that supports the Company’s purpose, mission and values to transform the economic, environmental and social landscape for generations to come.
For more information on Astra Energy Inc., visit the Company’s website at www.astraenergyinc.com.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements. In evaluating these forward-looking statements, readers should consider various factors, including the Company’s ability to change its direction, its ability to keep pace with new technology and changing market needs, and the competitive environment of its business. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement.
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