Company’s Subsidiary, MV Technologies, Receives $1.3 Million Contract to Install an LFG System; Continues to Grow Recurring Revenue Base
GOLDEN, Colo., Jan. 23, 2019 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has been awarded a $1.3 million contract to install its proprietary gas conditioning system.
SEER’s wholly owned subsidiary, MV Technologies, was recently awarded a contract to provide a six-vessel H2SPlus™ system for a landfill gas (LFG) to energy project in the State of New Jersey. This is MV’s fifth LFG treatment system to be installed in the state.
The H2SPlus™ system is designed to treat 3,600 standard cubic feet per minute (SCFM) of LFG, with the ability to expand to treat approximately 6,000 SCFM of LFG as LFG generation increases at the site. This is the 19th LFG to energy project that MV has been awarded across the United States.
The project will generate approximately $200,000 in recurring annual media sales of SEER’s in-house BioActive Media™ (“BAM”). As the landfill gas collection expands at that site, the recurring BAM media requirement is expected to double to meet LFG treatment requirements.
In addition to the larger fixed-site systems, MV continues to increase placement of its modular gas conditioning systems, either through rentals or sales. This marketing campaign was launched in earnest last year and continues to grow the company’s revenues, both through system placement revenue (rental or sales) and also through increasing recurring revenue generated from media replacement sales of Axtrap™ media for the modular systems.
Based on currently installed modular systems, 2019 media replacement revenue for MV’s licensed Axtrap product is projected to approach $1.5 million. Projected new sales of those systems could increase annual media sales revenue to over $3.5 million.
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), 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; MV Technologies, LLC and SEER Environmental Materials, LLC; and three majority-owned subsidiaries: Paragon Waste Solutions, LLC; ReaCH4biogas ("Reach") and Pellechar, LLC. For more information about the Company visit: www.seer-corp.com.
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Released January 23, 2019