September 17, 2009 (FinancialWire) — International Power Group, Ltd. (OTC: IPWG), a provider of waste-to-energy solutions, announced that, through its Waste-to-Energy (WTE) Development division, it has entered into a Memorandum of Understanding, (MOU), with individuals residing in Poland for the formation of a joint venture for the development of a WTE project in Radom, Poland, which is approximately two hours southeast of Warsaw.

The Representatives will act as IPWG’s exclusive liaison in Poland and are expected to assist in securing land and all approvals necessary for the operation of the WTE project. IPWG will be responsible for coordinating the project including provision of financing. It is anticipated that the WTE power plant will process approximately 450 tons of municipal solid waste a day, at approximately sixty-five dollars US ($65.00) a ton, 50 tons of medical waste a day at approximately two thousand dollars US ($2,000.00) a ton and will realize approximately 13.5 cents per kilowatt from the sale of energy generated by the plant.

As part of this project, the governmental bodies in Radom, Poland have indicated that they will provide IPWG with 19 hectares, or 46.9 acres, of real property for the plant operation. IPWG is currently in negotiations with a large European financial partner to close on financing for the completion of this WTE power plant construction project and is expected to complete its negotiations within the next four weeks.

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