March 15, 2010 (FinancialWire) — Refill Energy, Inc. (OTC: REFG) said it has signed a ten million dollar contract with Nueva Esperanza of Peru, who holds coal mines and reserves to provide energy to Peru, Brazil, Chile and other parts of the world. Closing of the sale is schedule to occur in late April.

Under the terms of the contract, Nueva Esperanza will acquire 49% of Refill’s wholly owned subsidiary Green N-ergy, which holds exclusive worldwide license and marketing rights to Refill Energy’s gasification and reactor technologies.

According to Refill, the flagship project is the construction of a 200 Megawatt coal to electricity facility in Peru, which will result in sales and royalty earnings to Refill.

Utah-based Refill Energy’s patented Downdraft Gasification technology is meant provide advantages and be capable of producing large volumes of energy from the conversion of any carbon-based feedstock either solid or liquid, such as municipal solid waste, coal, sewage sludge, agriculture waste and carcasses to a flexible combination of electricity, steam, ethanol, fuels, chemicals and hydrogen.

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