$34 Million in Outstanding Proposals Reflects Robust Demand for Biogas Production in the U.S. and Abroad
GOLDEN, Colo., Aug. 12, 2015 /PRNewswire/ -- Strategic Environmental & Energy Resources, Inc. ("SEER") (OTC:SENR) announced today that MV Technologies ("MV"), a wholly owned subsidiary of SEER, is experiencing a significant increase in requests for proposals for its proprietary H2SPlus™ biogas purification systems. This record number of bids and proposals is the result of surging demand in the biogas industry in the U.S. and abroad.
MV currently has an installed base of more than 45 sites nationwide for its OdorFilter™ and H2SPlus™ solutions and is becoming increasingly recognized as a leader in cost-effectively removing hydrogen sulfide (H2S) impurities from biogas generated by landfills, wastewater treatment plants, and agricultural digesters. Currently, the value of MV's outstanding proposals and bids is just under $34M, far and away the highest level in MV's ten-year history.
"Proposal activity has greatly accelerated in the past 12 months as a result of our expanded marketing efforts, a deeper engagement with major engineering firms, and solid relationships with clients that are now generating both repeat and new project business, in addition to recurring revenue from media replacement sales," said John Jenkins, MV's President. "Through July 31 of this year we have generated more than 70 proposals with total value of $20M, which puts us at an annual run rate for this key indicator that is 50% ahead of where we were in 2014."
"While it is difficult to predict how many of these proposals will translate into a project award, we believe this growth reflects the strength of the biogas industry, and our increasing leadership position within it," said J. John Combs, SEER's CEO, who added, "MV's forecasted growth is not limited to the United States, our developing UK and EU market opportunities look very encouraging as agricultural biogas generation is more broadly accepted there because of considerably higher energy prices. We are glad to be working with a major multi-national OEM partner that is already deeply connected to the biogas market throughout the UK and Europe.
Combs went on to note, "As our installed base of systems increases domestically and internationally, so will the demand for our proprietary Bioactive Media™, or BAM™, both in new projects and in replacement media sales. We see this growth and potential for recurring revenue in MV as an exciting opportunity to create sustainable higher-margin revenue streams for the company, ultimately resulting in increased value for our shareholders," concluded Combs.
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) identifies, secures, and commercializes patented and proprietary environmental clean 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 two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and ReaCH4biogas ("Reach").
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. 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 this press release regarding the cost effectiveness, impact and ability of the Company's products to handle the future needs of customers 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.
Strategic Environmental & Energy Resources (SEER)
J. John Combs III
Chief Executive Officer
Darrow Associates, Inc.
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SOURCE Strategic Environmental & Energy Resources, Inc.
Released August 12, 2015