Published 05-13-02
Submitted by Aquatic Cellulose International Corp.
VERNON, British Columbia - Senior executives of Aquatic Cellulose (OTC:AQCI - News) recently returned from a successful month-long business trip to Brazil. The objective of the visit was to garner support from government, businesses and financial institutions for expansion of the Company's ECOMAB operations at Tucurui and, ultimately, to other reservoirs throughout the country.
"We shared with Mr. Gabriel our vision of an economically-viable underwater wood harvesting industry in Tucurui," said Gary Ackles, President and CEO of AQCI, "one that would generate significant economic, social and environmental benefits for all, through expanded harvesting and processing operations, Micro Industry development, technology transfer as well as a new commercial opportunity for the presently-unwanted forest canopy. His Excellency expressed strong
support for all our activities, noting that they were in strategic alignment with his government's objectives of creating sustained wealth and jobs for the people of Para. He subsequently facilitated many of our contacts with his state's leading administrative, business and financial powers."
"Para, in the heart of the Amazon Basin, is an exciting place to do business, rich in natural resources, including vast tracts of underwater forests, with a progressive administration heavily investing in infrastructure and supporting job-creating partnerships with environmentally-sensitive, socially-responsible companies such as AQCI," said Bill Stephaniuk, AQCI's Chief Operating Officer. "The first phase alone of AQCI's Business Plan is expected to create a substantial number of direct and indirect jobs in harvesting, manufacturing and the
building of our next generation harvesting technology, the ATH-120. AQCI has already formed a strategic alliance with a Brazilian company that will result in technology transfer and production of these unique and sophisticated machines right in Belem," stated Mr. Stephaniuk.
During AQCI's travels, several leading newspapers in Brazil covered the story of Aquatic Cellulose and its meetings with high-level government and business officials. Brazil has millions of acres of preserved nonliving underwater forests, inundated during past major hydropower
projects. The country recognizes the importance of harvesting wood from these reservoirs to create local jobs and spin-off economic opportunities, enhance hydroelectric generation efficiency, improve aquatic ecosystems and help alleviate pressures on land-based forests.
"I am pleased with the success of this mission," concluded Mr. Ackles.
Aquatic Cellulose International Corp. (OTC : AQCI - News) is a world leader in the emerging industry of underwater timber harvesting. The Company currently operates in Brazil using a patented robotic-based recovery system called the ATH. The ATH locates, cuts and recovers
submerged timber with greater efficiency and safety than diver-based methods. AQCI specializes in the recovery and processing of this resource, once considered lost, to offer among the finest tropical hardwood products and promote a healthy Amazon Rainforest.
This press release contains statements that constitute forward statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that may cause or contribute to such differences include, among other things, the Company's dependence on one customer, seasonality of the Company's retrieval business and risk of future losses from operations. Other risks and uncertainties
include changes in business conditions and the economy in general, changes in governmental regulations, unforeseen litigation and other risk factors identified. The Company undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this press release.
The NASD OTC has neither approved nor disapproved of the information contained herein.
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