Thursday, October 18, 2007

EER Raises Cash

Environmental Energy Resources, Ltd. (EER), an environmentally-friendly waste management company, raised $3.5 million in a private placement that values the company at $130 million.

EER is developing a plasma-based thermal technology for treatment of municipal solid waste, low-level radioactive waste, and biomedical waste. The only end-products of the process are gas that can be used in power plants and an inert slag that can be used in the construction industry. It recently constructed a technology demonstration facility near Haifa.

Based in Ramat Gan, EER is controlled by Urdan Industries Ltd. and Shrem, Fudim, Kelder & Co. Ltd. (SFK)