Paragon Southwest Medical Waste is Now the First Viable Large-Scale Alternative to "Bypass" Medical Waste Incineration With Committed Supply Agreements From Large Waste Companies
GOLDEN, CO -- (Marketwired) -- 02/27/18 -- 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 (Paragon), has completed the commissioning and start-up of Paragon Southwest Medical Waste, LLC (PSMW), a waste destruction facility in Anahuac, Texas. The initial loads of medical waste have been processed and this facility now represents the first-time "bypass" medical waste can be destroyed in the United States on a large-scale, commercial basis in a manner other than traditional incineration. While plans are in place to open large-scale facilities in California, PSMW is already permitted to be much larger than SEER's current JV facility in Southern California.
The entire project, including commissioning and start-up, was achieved on budget and ahead of the Company's initial timeline previously announced. Several significant, customer agreements have been signed in the first week of operation and the venture is being approached and undergoing audits by several of the world's and nation's largest waste management companies.
"The successful start-up and commercial runs represent an industry first and a new era for the way medical waste will be treated and destroyed globally," said Dr. Fortunato Villamagna, CEO of Paragon and PSMW. "By leveraging our patented low-cost, low emission, small-footprint technology we will redefine how "bypass" or "incinerate only" medical waste will be treated in the 21st century."
The Anahuac facility has commenced operations with three CoronaLux™ Model L systems, that can each destroy three tons of medical waste per day for a total of nine tons per day. Once the existing units are brought to capacity, additional units will be installed in the facility. The Anahuac facility can accommodate 15 systems, which at current market prices would represent the potential for $15 million in annual revenue for PSMW. Freight represents a significant expense (up to 40%) of total costs to customers, however, and PSMW has the option of deploying some of the 15 systems to other future satellite locations within its licensed territory, bringing the destruction process closer to customers and capturing some of the resultant freight savings. The scalability and ease of deployment of the Paragon technology is one of the many key advantages relative to large fixed-site incinerators.
PSMW initially purchased three CoronaLux™ units from SEER's Paragon division. As part of the agreement, PSMW will use cash flow from operations to purchase additional CoronaLux™ units over a five-year period for this and other satellite location. Paragon will also receive $200,000 annually for providing management services to PSMW and its prorated share of operating profits.
"This milestone in the medical waste industry further demonstrates the potential for real market disruption by implementing the CoronaLux™ Technology worldwide in an industry that has not seen significant advancement in decades," said John Combs III, CEO of SEER. "It also corroborates the significant economic benefits the CoronaLux Technology will provide to its stakeholders."
"Since the issuance of the full operating permit by the South Coast Air Quality District in Southern California, we are particularly excited about the increased recognition and industry interest being received for CoronaLux's superior ability to destroy what is traditionally termed "incinerate only" or "bypass" medical waste in the most efficient and environmentally conscious manner in the industry. The development of this joint venture and replacement of the traditional incineration process by the disruptive CoronaLux™ Technology represents a true inflection point in the on-going and strategic roll-out program by the Paragon team," concluded Mr. Combs.
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 February 27, 2018