EESTech, Inc. Announces Heads of Agreement with Tetronics In

|Feb 24|magazine10 min read

NEWCASTLE, Del., Feb. 24, 2020 /PRNewswire/ -- EESTech Inc, 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).

Tetronics International is recognised as a world leader in Direct Current (DC) plasma arc process systems. Tetronics was established in 1964 to develop industrial and metallurgical applications for high temperature DC Plasma Arc technology.  With over 50 years of experience, Tetronics has developed an established reputation for producing high quality clean plasma heating technologies, with 127 patents either granted or pending.

EESTech's CEO Murray Bailey said, "the signing of this Agreement brings together a world leader in DC Plasma Arc technology (Tetronics) with a world leader in induction furnace technology (Inductotherm).

Both companies have exclusive supply agreements with EESTech for the collaborative development and production of the IRF for all future commercial applications".

The IRF design represents a 'first of a kind' minerals processing furnace that enables the high efficiency of DC Plasma Arc and Induction furnace technology to be used for the primary smelting of non-conductive feed materials. The IRF has the potential to revolutionise the world's foundry and metal casting industries.

Tetronics CEO Graeme Rumbol said "Tetronics sees the combination of these two established melting technologies will deliver significant positive synergies and performance upside. The induction-based benefits, of through-heating and stirring will be complemented by the ability of plasma to add direct high intensity clean heat to the cold and /or non-conductive raw feed material and slag to produce a hybrid heating and smelting system that is greater than the sum of its parts". 

EESTech, Tetronics and Inductotherm, will work as collaborative development and technology supply partners for the production of the first IRF to be built by EESTech for deployment in the United States for the smelting of chromite concentrate into ferrochrome metal.

The three companies will also initiate the production of two IRF planned for the Samancor Ferro-Chrome (FeCr) recovery project in South Africa.  Where EESTech will undertake the reclamation of 12.5 million tons of Ferrochrome (FeCr) slag over the next ten years, reclaiming up to 99% of residual FeCr units in the form of a concentrate ready for smelting by the IRF.

All tailings will be transformed into environmentally stable, inert sand products that are in demand for a variety of commercial applications, delivering significant economic benefits, delivering zero-waste outcomes and environmental sustainability.

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.

Cision View original content:http://www.prnewswire.com/news-releases/eestech-inc-announces-heads-of-agreement-with-tetronics-international-301009532.html

SOURCE EESTech Inc.