Poseidon Resources receives environmental award

Poseidon Resources Inc. has received an environmental award on behalf of the Carlsbad Desalination Plant. The Environmental Spirit Award was given by the Carlsbad Chamber of Commerce. Since 1998, Poseidon Resources has been working in a public-private partnership with the City of Carlsbad to construct a 50-Million-Gallon-Per-Day (MGD) seawater desalination plant at the site of the Encina Power Station to provide a cost-certain, locally controlled, drought-proof supply of water...

CARLSBAD, CA, March 4, 2008 -- Poseidon Resources Inc. announced that they have received another environmental award on behalf of the Carlsbad Desalination Plant. The Environmental Spirit Award was given by the Carlsbad Chamber of Commerce at their Annual Business Awards Dinner on Feb. 22 at the Four Seasons Resort Aviara in Carlsbad.

"We selected the Carlsbad Desalination Project as our first recipient for the Environmental Spirit award because of Poseidon's demonstrated commitment to the environment, especially the Agua Hedionda Lagoon," said Paul Thompson, outgoing Chairman of the Carlsbad Chamber of Commerce board. "We applaud their efforts to make this project both environmentally-friendly and fiscally-responsible, while reducing our county's dependence on imported water," said Thompson.

Since 1998, Poseidon Resources has been working in a public-private partnership with the City of Carlsbad to construct a 50-Million-Gallon-Per-Day (MGD) seawater desalination plant at the site of the Encina Power Station to provide a cost-certain, locally controlled, drought-proof supply of water. Once operational, the Carlsbad desalination plant will provide enough drinking water to serve 300,000 residents annually at a guaranteed price and at no risk to taxpayers.

"We're honored to receive the Environmental Spirit award from the Carlsbad Chamber of Commerce because it recognizes the steps we've taken to protect and restore the nearby marine and lagoon environment. The project includes a 37-acre wetlands restoration project and an unprecedented Climate Action Plan that will eliminate the plant's carbon footprint," said Poseidon Resources Vice President Peter MacLaggan who accepted the award.

In 2006, Poseidon also won the prestigious Excellence in Environmental Engineering Award from the American Academy of Environmental Engineers and the 2006 Global Grand Prize for Applied Research from the International Water Association for their desalination pilot plant, which has been operating on site since 2003.

Poseidon Resources specializes in developing and financing water infrastructure projects, primarily seawater desalination and water treatment plants.

"Speaking for Business, Listening to the Community," the Carlsbad Chamber of Commerce is proud to be the voice for North County businesses. With more than 1,600 members, the Carlsbad Chamber is the second largest chamber in the county and the 10th largest in the state.

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