Rank Progress SA has signed a joint venture agreement with Waste to Energy Canada Inc. The document that has just been signed at the Canadian embassy anticipates a joint-venture- based cooperation between Rank Progress and WtEC in the construction of waste treatment plants in Poland and Croatia. A special purpose entity will be formed for the construction of each facility. The parties to the joint venture agreement will provide such entities with services relating to administrative procedures, design and execution, technology and know-how in managing and recycling waste.

Either party will act within its relevant competence. A group of the entities will be supervised by a holding company which will handle commercialization and promotion of the WtEC technology, management of individual projects as well as offering the technology licence to other interested business entities.