PS2 to Establish Joint Venture to Treat Oily Sludge Waste in China

Saskatchewan-based Phase Separation Solutions Inc. (PS2), a clean technology subsidiary of West Mountain Capital Corp., announced that it has signed a strategic joint venture agreement with Zhoushan Nahai Solid Waste Central Disposal Co. Ltd. of China. PS2 and Nahai will establish an equal share Sino-foreign joint venture company to design, construct, engineer and operate a facility to treat oily sludge waste in Zhoushan, Zhejiang province. The facility, scheduled to be operational in early 2011, will process and recover oil from waste received from regional tanker cleaning activities and oil storage operations. Zhoushan Nahai manages hazardous waste and oily sludge from its base in Zhoushan.