Cutting Edge Vapor/Odor Control and Alternative Energy Solutions Expand Company's Environmental Services Product and Service Portfolio
COMMERCE CITY, CO -- (MARKET WIRE) -- 06/25/08 -- Strategic Environmental & Energy Resources, Inc. (SEER) (PINKSHEETS: SENR), a leading provider of technology-based industrial services in the environmental, energy, and rail sectors, today announced it has acquired the privately-held environmental solutions company, MV, LLC, for stock and cash.
Based in Golden, Colorado, MV is an innovative developer and provider of technology-based environmental solutions and renewable energy alternatives. Clients include Fortune 500 companies in the oil & gas, mining, livestock, beverage, waste water, and other industries. All these businesses have regulatory and practical reasons to minimize or eliminate the release of harmful gases into the atmosphere as well as capture and utilize waste sources where ever feasible.
Paul Trost, co-founder and manager of MV, said, "We are excited to join SEER's team and become part of a fast growing enterprise dedicated to offering a full complement of progressive environmental and energy solutions. While we have achieved strong and consistent year-to-year growth, we believe we can improve our performance over the long term with new marketing and operational synergies with SEER and its other operating subsidiaries. SEER's strength is just what we need to rapidly bring our new technologies to market."
MV, which will operate as a wholly owned subsidiary of SEER, has corporate and municipal customers throughout the United States. The Company has three primary product lines that manage vapor and odor emissions as well as create renewable energy programs in a range of applications. Products include the H2S PLUS Removal System, a patent pending process that removes H2S, mercaptans and carbonyl sulfides from waste gases in applications such as oil refining, asphalt production, landfills, meat packing, waste water treatment and farming; the OdorFilter System, also patent pending, which removes H2S, mercaptans, carbonyl sulfides and certain readily biodegradable organic compounds in similar applications; and the V3RU (Variable Volume Vapor Recovery Unit), a new low-cost alternative to gas well flares that captures, stores and compresses fugitive hydrocarbons escaping from production tanks for compliance, economic recovery, and increased operating safety. The V3RU enables the customer to increase net gas production and revenue while eliminating emissions and complying with increasingly stringent government regulations.
J John Combs III, president and CEO of SEER, said, "In the growing $4 billion air pollution control equipment market, this is an important part of SEER's growth plans. REGS' long-time customers have requested such emission control technology and the principals of MV are the best in the industry. MV's proven product lines and proprietary technologies are ideal complements to our existing portfolio of environmental services and technology solutions. The two companies have already created sales for each other from their overlapping customer bases and MV can now utilize REGS for its installation and recurring service needs since these are REGS' strengths. Also important, SEER is now in the renewable energy market with proven and cost effective technology. We will continue to evaluate strategic acquisitions that supplement our growing services base and offer strong revenue and earnings growth potential."
SEER, through its REGS, Tactical Cleaning and MV subsidiaries, now has operations in Colorado, Texas, Oklahoma, Nebraska and Pennsylvania, and the Company is evaluating additional locations where demand for its services is strong, particularly in the area of railcar tank cleaning. Additionally, SEER continues to explore opportunities with its well-established partners in the Middle East region.
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. is a leading provider of technology-based industrial services in the environmental, energy, and rail transportation sectors. The Company has three operating subsidiaries: REGS, LLC (d/b/a Resource Environmental Group Services), which provides industrial services to companies in the petroleum, industrial, manufacturing, and medical industries, as well as to university, government and environmental consulting sectors; Tactical Cleaning Company, LLC, a dedicated fixed and mobile railcar and tanker truck cleaning company with operations in Colorado, Nebraska, Pennsylvania and Oklahoma, and immediate plans to expand into additional states; and MV, LLC, an innovative developer and provider of technology-based renewable energy alternatives and environmental solutions related to emission and vapor control. Together, these companies provide industrial and tank cleaning services, hydroblasting services, environmental construction services, management and transportation of industrial wastes, railcar and tanker truck cleaning, sludge dewatering services, vapor and emission control technologies, renewable energy alternatives, and general environmental and waste management services.
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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 the Company's plans for growth and profitability, expansion and acquisition plans, efficacy and marketability of its products, and synergies of its subsidiaries 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. 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: Company Contact: J John Combs III, President Strategic Environmental & Energy Resources, Inc. 303-295-6297 Investor Relations Contact: Jay Pfeiffer Pfeiffer High Investor Relations, Inc. 303-393-7044 Email Contact
Released June 25, 2008