The parties are exploring options to form a new entity, SEER Corp. International, to leverage BWAB’s funding capabilities, global connections and key personnel in order to monetize SEER’s existing IP portfolio internationally, as well as identify strategic acquisitions of other value-add technologies to build an international, best-in-class portfolio of environmental solutions.
BROOMFIELD, CO, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream IP, services and management, has entered into a Memorandum of Understanding with BWAB, Inc., (www.bwab.com), a Denver-based, energy, infrastructure and investment company, to create a new entity, SEER Corp. International (“SCI”), to be owned 50/50 by SEER and BWAB. BWAB and its European affiliates are exploring opportunities to fund these roll-out and commercialization initiatives. SEER will not be expected to provide funding for the international rollout objectives. Under the proposed terms, SCI will then work with BWAB’s international affiliated companies to add value to SCI and accelerate the monetization of SEER’s assets internationally.
After extensive negotiations and due diligence, the parties agreed that the currently owned technologies and IP assets of SEER are well positioned to further many of the European government objectives and address various environmental issues being faced by most of the European countries and neighboring regions.
“The BWAB consortium in Europe, with its senior executives, engineers, and other key personnel, is a perfect fit to advance SEER’s international goals,” said J. John Combs, SEER’s Chairman and CEO. “Until now SEER has maintained its focus on technology development and rollout in the US, while being vigilant for opportunities to effectively pursue its international objectives and penetrate the enormous markets that exist in Europe and beyond. It is hard to imagine a better group of senior executives with vast experience in and around the environmental markets being targeted by SEER. The group also has senior engineers with decades of experience in the exact fields into which SEER is selling, such as renewable energy from landfills and digesters, innovative waste destruction, oil & gas field emission control, and others,” said Combs.
“Being based in Denver, Colorado, we have known about SEER through one of its directors which allowed us to begin exploring mutual opportunities with its management early last year,” said Steve Roitman, Chairman and CEO of BWAB. “When we brought in our European affiliates and colleagues, we recognized the potential synergies and opportunities that exist for our collective technologies and teams,” said Roitman.
While international travel has been hampered by COVID restrictions, mutual due diligence has been underway for months and BWAB’s US-based engineers have visited Paragon’s Texas medical waste destruction facility. BWAB International has tasked Jake Ulrich, to work closely with SEER’s US board of directors as parties complete their due diligence and work toward the creation of SCI. Mr. Ulrich effectively founded the UK’s first gas trading operation with the British Gas/Natural Gas Clearing House Joint Venture Accord in the 1990’s and became an executive director of Centrica, and Managing Director of Centrica Energy in January 2005. “We welcome the business acumen and extensive leadership talents Mr. Ulrich would contribute, as well as his impressive track record of multiple successes at the international level,” said Combs.
“We believe merging some of our environmental technologies with those of SEER will have a gestalt effect for all of the companies,” said Rob Sheard, BWAB ’s Europe-based managing partner. “After many company-wide conferences, our senior engineers have concluded that MV’s landfill and digestor gas capture and conditioning technology, as well as Paragon’s patented waste destruction technology have significant market potential in select international markets. We are also interested in exploring the potential of SEER’s Pellechar organic fertilizer as a possible solution to the currently inefficient method of applying chemicals in the agricultural industry throughout Europe,” said Sheard. “At this early phase it is difficult to assess the new entity’s long-term capital needs, but we are very interested in exploring this tremendous opportunity and leveraging our collective skills and funding resources to rollout SCI on the international stage. The new entity’s management will have to evaluate each opportunity as it presents itself and conduct a cost-benefit analysis to understand the impact on the profitability and success of our international rollout strategies. SEER and BWAB are now actively exploring other synergies across the markets and between respective portfolio companies and expect to make additional announcements once this analysis is concluded,” said Sheard.
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.
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.
Released January 5, 2021