Aug 30, 2011 - US GDT Tek Inc (PINK:GDTK) said Monday its joint venture Steriwave-GDT TEK Ltd had launched a USD-50-million (EUR 34.7m) bond sale, seeking funds for the deployment of its waste-heat-to-power systems.
The company has submitted a number of power purchase agreement (PPA) proposals to different companies for the deployment of its Phoenix systems. If at least half of the PPAs are struck, GDT's installed capacity will exceed 50 MW.
"The bond offering will provide additional capital so we can respond to the new PPA in a timely manner," said GDT president Bo Linton.
Florida-based GDT Tek develops renewable and sustainable energy technologies. It has licensed patented waste-heat-to-electric-power-generation technology suitable for installation at power plants, landfills and other waste-heat generating industries.