By Vito Pilieci, Ottawa Citizen, August 17, 2015
What assets remained of failed Plasco Energy Group were sold to a liquidation
company for $487,000 U.S., a tiny fraction of the millions of dollars the
company owed when it sought protection from its creditors earlier this year.
Once the clean-tech darling of the nation’s capital — promising to turn the
city’s garbage into energy — Plasco had attracted more than $300 million worth
of investment since it was founded in 2005. But on Monday, online auctioneers
began to detail the various components of Plasco’s test facility on Trail Road
that are now up for sale. The items will all be sold off to the highest bidder
in an auction that’s scheduled to begin Tuesday, via
Liquidator takes ownership of Plasco assets for pennies on the dollar |
Ottawa Citizen.