“We’ve worked hard during the past few years to develop Green DCV technology to reduce energy consumption in commercial buildings and now look forward to working with federal, state and local governments on energy efficiency projects that will be created as part of the stimulus bill spending,” said Mr. Arun Govil, CEO of Cemtrex. “We will work with local townships, school districts, municipalities, community colleges, government bases, and government hospitals to provide exactly the kind of energy efficiencies and green technologies that we are marketing to the private industry.”
The stimulus bill signed by President Obama includes $14.5 billion for energy efficiency programs, $3.5 billion for renovation and energy efficiency improvements for the Department of Defense, $10 billion for federal loan guarantees on renewable energy systems, $8 billion for environmental remediation, $20 billion to extend renewable energy tax credits, and $11 billion to promote energy efficiency in government buildings and fleets.
Other beneficial provisions of the stimulus bill include:
(i) $2.3 billion in tax credit for investment in advanced energy property for any project that re-equips, expands or establishes a facility for the production related to various identified renewable energy resources.
(ii) About $3.2 billion is available for energy efficiency and conservation block grants for states and eligible local governments involved in energy conservation products and services.
(iii) Removal of certain caps on credits for residential energy efficient property.
(iv) About $6 billion is available from the Department of Energy for the cost of guaranteeing loans for proven renewable technologies to help increase the sale of such products.
(v) $5 billion for carbon capture technology research.
Cemtrex Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. and filtration products for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems. Cemtrex provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the selling of carbon credits globally. The Company’s products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
Other press releases from Cemtrex Inc.
- Cemtrex Issues Annual Letter to Shareholders for Fiscal Year 2012 - January 9th, 2013
- Cemtrex, Inc.’s Recent Exceptional Growth of 130% Results in Spot on Deloitte’s 2012 Technology Fast 500(TM) List - November 19th, 2012
- Emissions Monitoring and Environmental Control Systems Market Leader Cemtrex Acquires Stake in Mobile Marketing Innovator Pluto Technologies - October 30th, 2012
- Cemtrex Completes Installation of Green DCV Project for Starkville Electric Department - April 22nd, 2010
- Cemtrex Secures Emission Monitoring System Contract in Uruguay - March 25th, 2010
Contact InformationArun Govil
19 Engineers Lane
Farmingdale, NY 11735