Poseidon pulls national award for Carlsbad desalination project

STAMFORD, CT, May 3, 2006 -- Poseidon Resources Inc., a U.S. water project development company, won the prestigious 2006 Grand Prize for Excellence in Research awarded every year by the American Academy of Environmental Engineers for innovation in the field of environmental engineering.

The award recipients are determined by an independent panel of judges which consists of nationally-recognized experts in the field. The key criteria for selection of the award winner include:
• A holistic environmental prospective;
• Performance and client satisfaction;
• Contribution to an improved quality of life and economic efficiency.

Poseidon was recognized for the following key achievements: 1) invention of innovative approach for co-location of membrane desalination plants and power stations that has the potential to yield 10 to 20 % reduction in water cost production and to provide cost-effective mitigation of the environmental impacts of the desalination plant and power plant discharges; 2) development of new methodology for better assessment of the effects of desalination plant discharge on aquatic life; 3) comprehensive research of alternative technologies for seawater pretreatment; 4) state-of-the-art testing of new technology for enhanced boron removal.

In 2003, Poseidon Resources built a seawater desalination demonstration plant in Carlsbad, California and completed a comprehensive multi-year applied research program focused on breaking the environmental and cost barriers to affordable production of fresh water from the ocean. The company is in the process of implementing the results of their research for the development of several large seawater desalination plants along the California coast.

"Poseidon recognition reflects our commitment to finding innovative solutions for affordable and environmentally safe seawater desalination," said Nikolay Voutchkov, corporate technical director for Poseidon Resources.

Poseidon Resources specializes in developing and financing water infrastructure projects, primarily seawater desalination and water treatment plants. These projects are implemented through innovative public-private partnerships in which private enterprise assumes the developmental and financial risks. For more information on Poseidon Resources and the Carlsbad desalination plant visit our Carlsbad website at www.carlsbad-desal.com and for information on the Huntington Beach project visit our Huntington Beach website at www.hbfreshwater.com .

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