From the Wires
IBA Green, Enters Into a Strategic Agreement with United Arab Emirates Multinational Corporation
Jan. 16, 2013 12:15 AM
SYMBOL OTCBB: PIEX
NEWPORT BEACH, CA, Jan. 15, 2013 /PRNewswire/ - IBA Green, Inc., a wholly owned
subsidiary of Pioneer Exploration Inc. (PIEX) is pleased to announce it
has entered into a strategic business cooperation agreement with
Spectrum based in Dubai, United Arab Emirates for implementation of a
facility for the treatment of incinerator bottom ash (IBA). IBA is the
toxic residual residue resulting from burning coal or solid waste in
the process of generating electric power.
The agreement enables both companies to further explore opportunities in
the United Arab Emirates and the Middle East region through cooperation
of technology, resources, and services. IBA Green has developed
technology to process IBA into environmentally safe construction
material and has current projects in development in Singapore and
Hawaii.
"Spectrum has formed a number of important, strategic alliances with
U.S. and other global companies in recent years," said Mr. Adel Al
Otaiba, Chairman and CEO of Spectrum. "We believe that our
relationship with IBA Green will be extremely rewarding, given the
growing need for their technology and the dynamic business environment
that exists in the UAE and the Middle East."
The IBA Green technology can address several issues facing the UAE and
the Middle East, including the processing, disposal and reduction of
toxic Incinerator bottom ash. That same ash once treated can then
safely be converted into nonhazardous eco-friendly building materials.
"IBA Green's technology to treat and convert incinerator bottom ash
into viable and environmentally responsible construction materials
provides a safe and environmentally sensitive method of diverting what
was previously hazardous material into commercially viable products, a
good thing for any place in the world." said Mr. Angelo Scola,
President and CEO of IBA Green.
About Spectrum
Spectrum is a multinational company with international projects
primarily in the industries of energy, oil production, and
infrastructure. IBA Green has developed technology to process IBA into
environmentally safe construction material and has current projects in
development in Singapore and Hawaii.
About IBA Green, Inc.
IBA Green has developed a process to mitigate the environmental issues
associated with toxic end products of the waste-to-energy industry, and
has developed a process to safely and economically utilize the
previously toxic end product (the "IBA Technology"). The IBA Technology
works in synergy with the waste-to-energy industry, converting the
toxic end products into commercially viable green construction
products.
The IBA Technology was specifically developed to address coal ash and
incinerator bottom ash (IBA), which is the resulting residue that is
created after the combustion process of burning coal or solid waste to
generate electric power. Currently, there are approximately 600 coal
burning and 85 waste to energy electric power plants across the USA
creating an aggregate 85 million tons of toxic coal ash or IBA
annually.
For further information about IBA Green Inc. please visit the company's
website at http://www.ibagreen.com/
On Behalf of the Board of Directors
Angelo Scola
President & CEO
(877) 700-0422
contact@ibagreen.com
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as "expects," "estimates,"
"projects," "anticipates," "believes," "could," and other similar
words. All statements addressing operating performance, events, or
developments that IBA Green or Pioneer Exploration expects or
anticipates will occur in the future are forward-looking statements.
Because the statements are forward-looking, they should be evaluated in
light of important risk factors and uncertainties. Should one or more
of these risks or uncertainties materialize, or should any of IBA Green
or Pioneer Exploration's underlying assumptions prove incorrect, actual
results may vary materially from those currently anticipated. In
addition, undue reliance should not be placed on IBA Green or Pioneer
Exploration's forward-looking statements. Except as required by law,
IBA Green or Pioneer Exploration disclaims any obligation to update or
publicly announce any revisions to any of the forward-looking
statements contained in this press release. There can be no assurance
that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
statements. No stock exchange has reviewed nor accepts responsibility
for the adequacy or accuracy of this release.
SOURCE Pioneer Exploration Inc.
About PR NewswireCopyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
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