Strategic Environmental & Energy Resources, Inc. Enters Into Additional Domestic License Agreements for Its CoronaLux(TM) Was...
07 Mars 2014 - 1:53PM
Marketwired
Strategic Environmental & Energy Resources, Inc. Enters Into
Additional Domestic License Agreements for Its CoronaLux(TM) Waste
Systems
Deployment of First Five CoronaLux(TM) Units Represents
Approximately $1 Million in License Fees
DENVER, CO--(Marketwired - Mar 7, 2014) - Strategic
Environmental & Energy Resources, Inc. (SEER) (PINKSHEETS:
SENR), a leading provider of patented and proprietary technologies
and services to the renewable fuels, waste management and oil and
gas industries, today announced that its Paragon Waste Solutions
subsidiary entered into additional license agreements with new
medical waste treatment facilities and received an additional order
from its existing facility partner. SEER also announced it is
entering into the oil and gas downstream market with its new
technology for both VOC gas stream treatment and solid waste
minimization.
"Our first CoronaLux™ installation, in Broward County, Florida,
has been permitted as new technology at the county and state levels
subject only to permitting at the local level by our facility
partner of its final on-site construction. This partner has
also ordered a second, larger CoronaLux™ system for a second
facility also in southern Florida and expects to start full
commercial operations for regulated medical waste destruction,"
said John Combs, SEER's CEO. "In addition, we are currently
deploying a third CoronaLux™ system with an oil and gas refinery
customer that will evaluate the system for on-site destruction of
volatile organic compounds in its gas streams as well as reduction
of solid hazardous waste in the refinery. Both applications
represent tremendous savings and environmental benefits for both
the community and entire refining industry." A fourth new
CoronaLux™ system is being delivered to SEER's REGS division for
deployment as an on-site, on-demand waste minimization
solution. Two additional systems have been ordered by
customers in the medical waste and industrial services sectors and
final fabrication and delivery is expected to occur in the second
quarter.
Paragon's existing revenue model calls for leasing or licensing,
as opposed to sales, of its technologies into specific market
segments for various applications and territories. The systems
are manufactured under license in a number of approved U.S.
facilities and have application in a wide range of markets,
including medical and other solid hazardous waste, biological
materials, chemicals, pharmaceuticals, chemical weapons and other
solid waste that would otherwise be incinerated or
landfilled. CoronaLux™ units can be deployed at the customers'
locations, at third-party centralized facilities or as a mobile
solution. The Company has now placed all five of its
second-generation systems, representing approximately $1 million in
license initiation fees, and, with each license or lease, the
Company has contracted to receive ongoing licensing and lease fees
for as long as the system is operated by the customer.
"We are pleased with the initial market acceptance of our
CoronaLux™ technology," Combs added. "As part of our
aggressive rollout plan, we are currently in discussions with
potential end-user customers and environmental service companies in
the U.S. and abroad for a variety of applications and are
commencing our next manufacturing round of generation 3 CoronaLux™
systems."
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER)
commercializes patented and proprietary technologies in several
multibillion dollar sectors (including oil & gas, renewable
fuels, and all types of waste management, both solid and gaseous)
for the purpose of either destroying/minimizing hazardous waste
streams more safely and at lower cost than any competitive
alternative, and/or processing the waste for use as a renewable
fuel for the benefit of the customers and the
environment. SEER has three wholly-owned operating
subsidiaries: REGS, LLC; Tactical Cleaning Company, LLC; MV
Technologies, LLC; and a majority-owned subsidiary, Paragon Waste
Solutions, LLC.
For more information about the Company visit:
www.seer-corp.com
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of various provisions of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995,
commonly identified by such terms as "believes," "looking ahead,"
"anticipates," "estimates," and other terms with similar
meaning. Specifically, statements about demand for, and
effectiveness of, the Company's products and services are forward
looking statements. Although the company believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Such forward-looking statements should not be
construed as fact. Statements in the press release regarding the
impact and ability of the Company's products to handle the future
needs of customers and the potential for additional orders for the
Company's products are forward-looking statements. The
information contained in such statements is beyond the ability of
the Company to control, and in many cases the Company cannot
predict what factors would cause results to differ materially from
those indicated in such statements. All forward-looking statements
in the press release are expressly qualified by these cautionary
statements and by reference to the underlying assumptions.
Contacts: J. John Combs III Chief Executive Officer 303-295-6297 Jay
Pfeiffer Pfeiffer High Investor Relations, Inc. Email Contact
303-393-7044
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