Alliance Recovery Corporation (“Alliance” or the “Company”) (OTCBB:ARVY) is pleased to announce that it has identified a site for the development of an initial waste-to-energy installation. Alliance has recently executed a Memorandum of Understanding (“MOU”) with Corbett Aggregate Corporation (“CAC”) that should allow the Company to enter into a long-term lease of vacant land and several large heavy industrial steel buildings located in Salem, New Jersey and immediately adjacent to the Salem Port Terminal.
The Salem, New Jersey site is ideally situated approximately 25 minutes from Philadelphia and is adjacent to several large metropolitan markets that generate vast amounts of rubber waste annually, including scrap tires. The densely populated tri-state area of New York, New Jersey, and Pennsylvania has an abundance of highways and network of waterways providing convenient and cost-effective transportation options for the delivery of rubber waste.
Establishing the CAC property as the likely development site for the initial Alliance energy alternatives waste-to-energy installation is a major milestone for Alliance. The completion of the proposed lease agreement will put Alliance on a specific timeline for the construction and development of a showcase facility that will be the model for all further U.S. and international expansion.
Moving forward, engineers retained by management of the Company will work with CAC and Alliance to develop a final site plan for the waste-to-energy installation in Salem, New Jersey. The engineers have already commenced activities to generate a site plan that will optimize the use of existing structures and space at the site. Subsequent to this determination, Alliance and CAC will enter into a long-term lease agreement. However, it is anticipated that any lease completed by Alliance would be subject to the Company’s ability to obtain the necessary regulatory approvals to construct and operate the installation.
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