Dominican Republic Government Leaders to Visit Toups Technology
3 February 1999
Dominican Republic Government Leaders to Visit Toups Technology
- Parties to Discuss Potential Economic & Environmental Benefit of
AquaFuel(TM) to the Dominican Republic -
LARGO, Fla., Feb. 3 -- Toups Technology Licensing, Inc.
("TTL")(OTC Bulletin Board: TOUP) announced that it will host a number of
government leaders from the Dominican Republic (DR) from February 3-5, 1999.
The parties are meeting to discuss development of the first AquaFuel(TM)
commercial production facility destined for the DR and the potential benefit
of AquaFuel to the country's economy and environment.
The government leaders will see a laboratory demonstration of the AquaFuel
production process, and view a prototype of an AquaFuel plant being
constructed by Dixie Arc. The group will meet at TTL's 50,000 sq. ft.
research facility in Largo, Florida.
Representatives from the Dominican government will include: Ing. Ernesto
Reyna, Asesor Ambiential del Presidente (equivalent to the director of the
U.S. Environmental Protection Agency); Ing. Radhamas Lora, Coronal, general
director of forestry; Bolivar Rodriguez, director of industrialization.
Representatives from the State of Florida and local governmental agencies have
indicated that they may also attend.
The group will be joined by officers and directors of AquaFuel-Dominicana
(AFD), an estimated $1.44 billion joint venture between TTL and a consortium
of private electric utilities in the DR. These include John Rivera, president
of AFD, and Isaias Arbaje, vice-president of AFD and former sub-secretary of
agriculture for the DR.
"Successful introduction of AquaFuel to the Dominican Republic will have
significant implications," said Rivera. "The DR suffers from an annual
shortfall of 500-600 MegaWatts of electrical energy and every year the
government subsidizes propane use in the amount of $380 million. Widespread
use of AquaFuel presents a potential solution for the DR."
TTL commercializes late-stage technologies primarily in the energy
environment and natural resource market segments. The company's technologies
include AquaFuel, an alternative fuel derived from electric carbon arcs in
water, that produces no harmful emissions; Balanced Oil Recovery Lift device
which increase marginal oil field production; Multi-Purpose Generators which
provide electric power co-generation that automatically parallels with the
local utility power grid; Electromagnetic Tire Recycling that converts scrap
tires into marketable products without emissions. TTL's two wholly-owned
subsidiaries include Advanced Micro Welding/Metal Fabrication and Brounley
Engineering & Associates which provides radio frequency power generators for
lasers, plasma etching and other applications. For further information, visit
the company's web site at http//:www.toupstech.com.
Company contacts: Mark Clancy, executive vice president of TTL,
727-548-0918, fax 727-549-8138. James Dryer/Geoffrey Plank, public/investor
relations, 561-655-7575, fax 561-655-2171.
This press release may contain forward-looking statements within the
meaning of section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. Although such
statements are based on reliable information and past experience, operating
results are affected by variety of factors, many of which are beyond the
control of the Company. The factors include the levels of order which are
received and can be shipped in a quarter; whether and when order options are
exercised; customer order patterns and seasonability; contract mix and
shifting production and delivery schedules; manufacturing capacity and yield;
cost of labor, raw materials, supplies and equipment; technological changes;
competition and competitive pressures on pricing; economic conditions in the
United States and worldwide, as well as other risks that are detailed from
time to time in the Company's filings with the Securities and Exchange
Commission.