Management to Host Business Update Conference Call on Thursday, December 14, 2017 at 4:30 p.m. ET
GOLDEN, CO -- (Marketwired) -- 12/07/17 -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, announced that its majority-owned subsidiary, Paragon Waste Solutions, has closed its joint venture agreement with GulfWest Waste Solutions, an owner and operator of one of the nation's few permitted medical waste incinerators located in Anahuac, Texas. The new entity will be called Paragon Southwest Medical Waste, LLC (PSMW) and will have an exclusive license to the CoronaLux™ technology in a six-state area of the Southern United States. In addition to the equity position, Paragon Waste Solutions will be the operating partner for the business and sell a number of additional systems to the joint venture over the next five years. SEER will host a business update conference call on Thursday, December 14, 2017 at 4:30 p.m. Eastern time to discuss the transaction and outlook for 2018.
Transaction Terms: PSMW is receiving its initial capitalization from a Texas-based investor group with relevant experience in the medical waste industry. PSMW will initially purchase three CoronaLux™ units from Paragon Waste Solutions which will be installed in GulfWest Waste Solutions' Anahuac, Texas permitted facility. As part of the agreement, PSMW will use cash flow from operations to purchase additional CoronaLux™ units over a five-year period. Paragon Waste Solutions will also receive $200,000 annually for providing management services to PSMW.
"This transaction validates the market demand for our superior state-of-the-art CoronaLux technology and is an exciting step in the maturation of Paragon Waste Solutions," said John Combs, SEER's CEO. "As a result of Paragon Waste Solutions' equity interest in PSMW, this agreement grants us access not only to a strong potential sales pipeline for years to come, but further demonstrates the potential for a real market disruption that brings significant economic benefits to operators using our CoronaLux™ technology."
"Our new joint venture is a monumental achievement for SEER, Paragon and the patented CoronaLux™ technology," said Dr. Fortunato Villamagna, founder and CEO of Paragon Waste Solutions. "This marks the first time this state-of-the-art technology has been implemented to replace the inefficient, negative environmental impact, traditional incineration process.
"PSMW will be headquartered in Anahuac, Texas at the original incinerator facility. Another first for the CoronaLux™ technology is that the facility will be established as a mega-site, eventually housing a large number of CoronaLux™ systems capable of destroying what is traditionally termed "incinerate only" or "bypass" medical waste in the most efficient and environmentally conscious manner in the industry. This is clearly the best available technology for this purpose, and the facility will have the capability of destroying truckloads of medical waste per day," added Dr. Villamagna.
"The development of this joint venture and replacement of the old-generation incineration process by the disruptive CoronaLux™ technology represents a milestone in the on-going and strategic roll-out program by the Paragon team, which includes George Clampitt, director of medical waste destruction systems and Michael Caruthers, operations manager," concluded Dr. Villamagna.
"GulfWest welcomes the opportunity to partner with Paragon to introduce the CoronaLux™ technology to the medical waste market in a large way," said Gregg Snyder, principal at GulfWest Waste Solutions. "We believe the CoronaLux™ units will replace medical waste incinerators over time and capture a large share of the 'incinerate only' medical waste market."
"The creation of a large regional facility capable of destroying truckloads of bypass medical waste is an incredibly important evolutionary step for the CoronaLux system that now completes a critical phase of our roll-out of the technology," said John Combs, CEO of SEER. "The Paragon systems have been shown to be many times more efficient and cleaner than old-technology incineration, by eliminating the pollution-creating mechanisms inherent in traditional incineration operations throughout the country. In fact, the ultra-clean nature of this technology allowed us to obtain our Texas air quality permits in record time, which is something we had anticipated following the previous work carried out in California and Florida.
"We welcome the opportunity to operate on a large commercial scale that will ultimately demonstrate the superiority of the CoronaLux technology. Moreover, our confidence is further supported with our new operating partners who have spent decades in and around the medical waste industry. Together with our partners, SEER and Paragon will focus all appropriate and necessary resources to accelerate the growth of the facility in order to make it the worldwide gold standard in the industry. As we conclude fiscal 2017, this partnership demonstrates our commitment to adhering to the new strategic direction we laid out in the first quarter of 2017 and we look forward to replicating this unique business model in other markets nationwide," concluded Combs.
Strategic Environmental & Energy Resources CEO John Combs, CFO Heidi Anderson and COO Richard Robertson will host the conference call, followed by a question and answer period. SEER Chairman Don Moorehead will also be joining the conference call during the question and answer period.
Date: Thursday, December 14, 2017
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: 1-800-289-0438
International dial-in number: 1-323-994-2083
Conference ID: 3213105
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at http://public.viavid.com/index.php?id=127567 and via the investor relations section of the company's website at www.seer-corp.com.
A replay of the conference call will be available after 7:30 p.m. Eastern time through February 14, 2018.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 3213105
About Paragon Waste Solutions
SEER's majority-owned Paragon Waste Solutions is at the technological forefront of the waste management and destruction industry. Paragon's patented CoronaLux™ system uses a low-energy, plasma-enhanced pyrolytic process to safely and reliably destroy hazardous, chemical, biological, pharmaceutical and regulated medical waste. The system also eliminates harmful emissions associated with high-temperature thermal alternative processes such as incineration and conventional hot plasma. The result is tremendous cost savings for waste producers and a much cleaner, safer environment. Initial CoronaLux™ installations have addressed the medical waste market where prevailing destruction methodologies are not available or antiquated, costly and create harmful emissions through incineration or high-energy plasma treatment. Eventually, the Company intends to deploy its CoronaLux™ technology into the oil and gas refinery sector, where the mandated destruction of volatile organic compounds, or VOCs, is currently costly and inefficient. The Company's CoronaLux™ technology is the industry's cleanest and most effective solution for most types of solid waste destruction; appropriate for on-site, mobile or centralized collection applications. For more information about PWS, please click here.
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 two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and ReaCH4biogas ("Reach"). 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.
Source: Strategic Environmental & Energy Resources, Inc.
Released December 7, 2017