SunSi Energies Inc's (OTC: SSIE) goal is to become one of the world's largest producers of trichlorosilane ("TCS"). The Company plans to achieve this objective by acquiring and developing a portfolio of high-quality, scalable, strategically located TCS production facilities that possess a potential for future growth and expansion. U.S. based SunSi controls approximately 55,000 metric tons of TCS production in China.
SunSi has announced that The Company has signed a binding letter of intent to purchase a 51% interest in TransPacific Energy, Inc. (TPE). TransPacific Energy, a Nevada and California company that designs and builds energy-efficient modular Organic Rankine Cycles, uses patent pending technology that maximizes the recovery and conversion of waste heat to increase the efficiency of industrial processes. SunSi believes the acquisition of 51% of the common stock of TPE will allow the company greater reach in the green energy arena, open doors in the Chinese market, as well as establish a new revenue stream.
Richard St. Julien, Chairman of SunSi Energies, Inc., commented,
"We are thrilled to join forces with accomplished business and technology leaders such as the team of TPE... SunSi will now offer innovative and critical renewable energy conversion systems that efficiently convert waste heat from industrial processes, solar, geothermal biomass and landfills directly into electrical energy. This partnership will provide us with U.S. based operations, diversify our customer pool, and position SunSi as a leading renewable energy company with significant technical expertise. Our Chinese operations and customer relationships will open new doors for TPE's products and enable us to significantly increase the value of the entire SunSi--TransPacific Energy enterprise."
Read the full press release here.