EESTech, Inc. Announces Heads of Agreement with Ramboll

|Mar 18|magazine10 min read

NEW CASTLE, Del., March 18, 2020 /PRNewswire/ -- EESTech Inc (OTC: EESH), publicly traded on the US OTC markets, is a specialist in the provision of reclamation and remediation services to the world's mining and minerals processing industries. EESTech has developed a patent pending design breakthrough in primary smelting furnace technology known as the IRF (Induction Reduction Furnace).

EESTech has entered into an exclusive agreement with Ramboll for the supply of engineering services for all future deployments of the IRF. Working in collaboration with Tetronics and Inductotherm, Ramboll will undertake project feasibility studies, determine systems integration, complete detailed engineering designs for the first IRF pilot plant at an EESTech US facility.

Ramboll's Advanced Manufacturing Business Unit (Ramboll) is based in the US and is a specialized engineering, equipment and project delivery group with over 70 years of systems integration experience. Ramboll is a leading international engineering consultancy company founded in Denmark in 1945, with over 300 offices in 35 countries.

EESTech CEO, Mr Murray Bailey, said, "the IRF is a primary smelting design breakthrough that represents a paradigm for the minerals processing industry, the magnitude of which has the potential to revolutionise the world's foundry and metal casting industries."

Spokesman for Ramboll, Mr Steve Palin said, "We look forward to working with EESTech to initiate the integration and development process of the IRF and will identify critical components and additional technologies if required to support the deployment of the IRF."

Ramboll acknowledges Inductotherm as a world leader in induction furnace technologies, having supplied over 35,000 induction melting and heating systems for a wide range of applications and Tetronics as a world leader in high temperature Direct Current (DC) Plasma Arc technology.

Ramboll has decades of experience with integrating equipment and has a strong working relationship with Inductotherm and delivered complex induction heating systems into the aerospace industry.

The IRF delivers superior performance and significant energy savings over current mainstream furnace technologies. The IRF has the capability to reduce the energy cost of primary ore smelting by over half and achieve up to 99% conversion rates of metal-oxides into metals.

The net result of EESTech's IRF hybrid technology is a highly-efficient primary smelting platform, with significantly reduced emissions and the ability to produce high quality metal. All post process tailings (slag) are transformed into value-added sand products for downstream commercial applications, resulting in zero-waste outcomes, making the IRF an economically and environmentally sustainable technology.

About EESTech:

EESTech Inc, promotes Economically Environmentally Sustainable Technologies to the world mining and minerals processing industries. EESTech Inc is publicly traded on the US OTC market, symbol EESH. www.eestechinc.com

Forward Looking Statement:

This media release includes statements that may constitute 'forward-looking' statements. The statements can be identified by phrases such as EESTech, Inc. or its management 'believes' 'forecasts', 'estimates' or other words or phrases of similar import. These statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Similarly, such statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals are forward-looking statements. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from forward-looking statements. Factors which could cause or contribute to such differences include but are not limited to our ability to recruit and retain key personnel, the availability of funding for future operating requirements, our ability to protect our intellectual property, our ability to secure contracts for the installation of our products and our ability to develop and operate such projects successfully. We urge you to carefully consider these factors and the information detailing other factors (which may cause actual results to differ materially) included in EESTech, Inc.'s press releases and other historical SEC filings. The forward-looking statements are based on current expectations and neither the Company nor its management assumes any obligation to update these statements.

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SOURCE EESTech Inc.