MV Technologies completes installation of H2S removal systems for innovative California dairy biogas projects as well as the cardboard and food & beverage industries, positioning Company for similar projects and revenue growth in 2021
BROOMFIELD, CO / ACCESSWIRE / December 24, 2020 / Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB:SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has completed two contracts for the design and installation of its proprietary H2S removal systems as part of a multiple-site dairy methane to renewable natural gas (RNG) project with Aemetis, Inc. (NASDAQ:AMTX), an advanced renewable fuels and biochemical company replacing traditional petroleum-based products with low or below zero carbon intensity alternatives.
Both projects are located in California's Central Valley, and were commenced in October 2019, taking approximately one year to complete from system design to final installation and commissioning. MV's proprietary H2S removal technology was tailored to each site's specific needs, resulting in the installation of MV's SulfAx® system at one site and MV's in-house H2SPlus® system at the other.
The projects are a strategic addition to the numerous agricultural biogas projects already in MV Technologies' portfolio. "MV has multiple systems installed at some of the nation's largest agricultural biogas projects throughout the US, so we are confident we will contribute to the success of this impressive venture on both a state and national level. MV's systems are a critical part of the overall biogas systems being installed by Aemetis, and our affiliate, SEER Environmental Materials (SEM), will provide the media for the H2SPlus® system year after year," said MV President, Tom Jones. MV will also continue to provide the granular media for Aemetis's SulfAx® system.
MV also recently received its second purchase order from Veolia Water Technologies for its proprietary technology design and installation. Both Veolia projects are utilizing MV's SulfAx System to remove H2S from biogas generated at two different waste water treatment plants and use Axens' AxTrap 4142 iron oxide granular media.
The first Veolia PO was issued earlier this year for a recycled corrugated cardboard manufacturer based in Louisiana. The more recent PO was issued for a publicly owned treatment works that is upgrading its high-rate anaerobic treatment system for a municipality in British Columbia, Canada. The facility upgrades were necessary to accommodate the high biochemical-oxygen-demand waste from a local brewery.
These two systems bring the total installed systems for Veolia to 6 across the country; four H2SPlus Systems and two SulfAx Systems.
The total system design/installation value for these four recent sales is approximately $600,000 and, depending on many variables and factors in operating parameters, the total media replacement costs for these systems is expected to be approximately $250,000 annually.
"These installations bring MV's total installed nationwide base to over 100 and confirm the efficacy and efficiency of the Company's technology," said SEER CEO, John Combs. "We are extremely proud to have been selected as the H2S removal technology for these industry-leading projects. It is clear that Aemetis is committed to establishing an innovative and transferrable model of sustainable best practices. Similarly, Veolia is confirming its nation-wide commitment to contributing to environmental stewardship. To be chosen by these companies and be a part of these projects from design to installation is rewarding and encouraging for SEER and a testament to MV's proven technology and hard work. We certainly intend these to be the first of many biogas conditioning system installations for Aemetis as they execute their plan to leverage the substantial below-zero carbon transportation fuel market with fifteen more similar biogas upgrading installations," added Combs.
With over $30 million in proposals outstanding, MV is well-positioned to take advantage of the increase in activity in the Renewable Natural Gas (RNG) market. In addition, the following tax incentives should increase the amount of biogas projects that are expected to be developed in 2021. Typically, biogas contains H2S which must be removed prior to use across the industry.
- Extension for the Production Tax Credit (PTC) for Renewable Electricity for open and closed loop biomass until December 31, 2021. This is the 1.2 cents per kWh PTC which can be used for 10 years after construction begins as well as the ability to irrevocably convert to a one-time 30% Investment Tax Credit (ITC).
- Extension of the Alternative Fuel Excise Tax Credit. Is extended for one year. This extends the $0.50/gallon fuel credit. This credit expires on December 31, 2021.
- Extension of the Alternative Fuel Vehicle Refueling Property Credit which extends the 30 percent/$30,000 ITC for alternative vehicle refueling property.
- Extension of the ITC for Combined Heat and Power. The 10% Investment Tax Credit can now be used for qualified combined heat and power property that begins construction by 2023.
"With state-wide shutdowns, business interruptions, international and domestic travel restrictions, and many other unforeseen obstacles, this has been an extremely challenging year," said Combs. "Despite these events, management has remained committed to and focused on achieving as many of its 2020 objectives as possible. Accordingly, we anticipate concluding several long-term negotiations that we believe will result in significant progress for SEER and its affiliates and expect to making further announcements the first few weeks of the new year," concluded Combs.
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; PelleChar, LLC and ReaCH4biogas, LLC. For more information about the Company visit: www.seer-corp.com.
About Aemetis, Inc.
Headquartered in Cupertino, California, Aemetis is an advanced renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto. Aemetis also owns and operates a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is building a biogas anaerobic digester network and pipeline to convert dairy animal waste gas to Renewable Natural Gas (RNG) and is developing a plant to convert waste orchard wood into cellulosic ethanol. Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
Forward Looking Statements
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 future performance or fiscal projections, 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.
SOURCE: Strategic Environmental & Energy Resources, Inc.
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Released December 24, 2020