This merger enters the company into a new area of business and plans are currently underway to design and develop a 10MW power plant that will use biomass as a fuel. The company said that the timing of this merger could not be better as the BC Hydro has issued a clean energy call for 5,000Gwh per year for seasonal and hourly firm energy.
Virtual Media Holdings said that it has held discussions with a major brokerage firm to raise capital for this project and that the response has been favorable.
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