For additional information call:
905.825.3109

7-news

Government of Ontario Invests $1 Million in Petro Sep’s™ Licensee

3Oakville, Ontario, May 23, 2008 – Member of Provincial Parliament Kevin Flynn of Oakville announced that the Government of Ontario was investing $1 million in Petro Sep’s™ North American licensee. The investment is from the Ministry of Research and Innovation as part of its Innovation Demonstration Fund. “We are very excited about this project and the people of Oakville are very proud that a technology developed right here is helping Ontario to be recognized as a world leader in clean technology” said Mr. Flynn. The government invested in seven projects in the latest round of IDF funding. Among the select group of companies and technologies chosen were 3M Canada, and, Petro Sep’s licensee, KmX Corporation. The funds will be directed toward the operation of a plant showcasing Petro Sep’s patented AZEO-SEP™ (PERVAPORATION & VAPOUR PERMEATION)membrane system. In its own press release issued today the Ministry of Research and Innovation stated that KmX will “…operate a demonstration plant to build international commercial interest in a new technology that recycles harmful industrial chemicals instead of disposing of them. This reduces the impact on the environment while reducing disposal costs for industry.” Fakhir Baig, President of Petro Sep, said “We’re delighted that the government of Ontario is supporting our world leading clean tech solutions. This is a great honor for us and we’d like to thank the Ministry of Research and Innovation for recognizing and endorsing our clean technologies.”

Categories: