Funding to Turn Car Fluff into Biomass Power

December 29, 2003 [] Montreal, Canada-based BIMS Renewable Energy, a company that specializes in green energy production, using as primary material, biomass, used tires and other carbon based automotive waste (“car fluff”), has signed of an Investment Banking Agreement with TGLP Capital, a division of Groupe TGLP, an investment fund specializing in financing companies who develop and market innovative technologies, particularly in energy and the environment. In the past the fund has invested in companies through equity participation. Additionally, the parties anticipate this agreement will foster an ongoing involvement by TGLP in future projects undertaken by BIMS. BIMS entered into this agreement in an effort to aid in funding its potential acquisition of all the assets of Ecolomondo, a company that possesses technology that offers an ecological solution to the problem of discarded used tires and car fluff through a recycling process that generates gas, pure carbon, oil and steel. The oil, in turn, can be used to produce electricity while the carbon and steel are sold to a ready market, resulting in a profitable return on invested capital.


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