Mountain Top Properties, Inc. Debuts the Energy Market with Microalgae Emulsion Technology

Rhea-AI Summary

Mountain Top Properties (OTC PINK: MTPP) has announced the upcoming launch of its Microalgae Emulsion Technology, aimed at reducing electricity costs and enhancing carbon neutrality for energy users globally. The company is negotiating a lease for a manufacturing facility in Leland, North Carolina, and has secured a Power Purchase Agreement with Aasal Hydrotech & Steel in Pakistan, generating revenues of $5.588 million over 7.5 years with a tariff 25% lower than local rates. Additional revenue from renewable energy by-products is estimated at $6.985 million.

Positive

• Launch of Microalgae Emulsion Technology aimed to reduce electricity costs.
• Power Purchase Agreement with Aasal Hydrotech & Steel valued at $5.588 million over 7.5 years.
• Expected additional revenue of $6.985 million from renewable energy by-products.
• Interest from multiple companies in Pakistan for similar Power Purchase Agreements.

Negative

• None.

Charlotte, North Carolina, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Mountain Top Properties, Inc (OTC PINK: MTPP) announces today they are ready to launch and announce to energy users worldwide their Microalgae Emulsion Technology. The deployment of the technology will increase interest in the benefits it provides particularly in reducing electricity costs and improving carbon neutrality.

The company is currently in negotiations with the state of North Carolina regarding placing a manufacturing and post-process facility. Completion of the negotiations and signing of a lease later this year will identify the opening of a Microalgae Emulsion Innovation Center in Leland, North Carolina.

The company intends to operate on a Build-Own-Operate business plan. On September 10, 2021, the company entered into a Power Purchase Agreement with Aasal Hydrotech & Steel, based in Islamabad, Pakistan, to supply an uninterrupted electricity supply for a seven-and-a-half-year term. The tariff agreed on was 25% less than the local electricity company would deliver electricity for, and the total value of the agreement generates revenues of $5.588 million USD. Those revenues are further supported by the sale of additional renewable energy bioresources, of $6.985 million USD, which are a by-product from the microalgae cultivation.

The Power Purchase Agreement with Aasal Hydrotech & Steel is the first of many from an extensive list of companies in Pakistan who have expressed interest in buying electricity under similar Power Purchase Agreements. More importantly, when fully operational, this amount of interest will give the company an established position ready for the National Electric Power Regulation Authority’s launch of the Competitive Trading Bilateral Contracts Market, which is scheduled for early next year.

The company plans to submit an application to the World Bank, which is an international financial institution whose role is to reduce poverty by lending money to the governments of low and middle income countries to improve their economies and to improve the standard of living of their people. This could generate 20-30 institutional Customers.

Forward-Looking Statements
                                                                                              
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Mountain Top Properties beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and Mountain Top Properties undertakes no duty to update such information, except as required under applicable law.

For more information, please contact: tteece@mountain-top-properties.com                                           

Source: Mountain Top Properties (OTC Pink: MTPP)

FAQ

What is Mountain Top Properties' new technology?

Mountain Top Properties is launching Microalgae Emulsion Technology aimed at reducing electricity costs and enhancing carbon neutrality.

What is the significance of the Power Purchase Agreement for MTPP?

The Power Purchase Agreement with Aasal Hydrotech & Steel is worth $5.588 million and offers electricity at a 25% lower rate than local providers.

What additional revenues are anticipated from MTPP's new technology?

The company expects additional revenues of $6.985 million from renewable energy bioresources produced as by-products from microalgae cultivation.

When is the Microalgae Emulsion Innovation Center expected to open?

The opening of the Microalgae Emulsion Innovation Center in Leland, North Carolina, is contingent upon the completion of lease negotiations later this year.

What future plans does MTPP have regarding institutional customers?

MTPP plans to apply for funding from the World Bank, potentially generating 20-30 institutional customers.