SEER Provides Operational Update on Industrial Cleaning and Environmental Technology Solutions Divisions
GOLDEN, Colo., June 26, 2018 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB:SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has provided the following operational update with its industrial cleaning and environmental technology solutions subsidiaries, REGS and MV.
REGS, an industrial cleaning subsidiary of SEER, has been awarded a new cleaning project for a large steel company in Pueblo, Colorado. The project will consist of tank cleaning as well as several ancillary activities, including ultra-high-pressure water cutting and vacuum truck services. It is expected the project will commence in July, last 30-60 days and generate approximately $0.5 million in revenue.
REGS continues to see increased activity surrounding its partnership with Biochar Now (BCN) and expects to successfully leverage its relationships in the mining industry to enable initial market penetration for BCN’s high-quality, patented biochar. REGS has completed several small water remediation projects in Texas where the patented BCN product out performed alternatives in removing excess nitrogen and phosphorous and successfully destroyed invasive algae and plant growth in residential ponds. REGS and BCN expect to leverage this success and expand both size and scope of similar projects. The next phase of the large river remediation project in the South East is being completed and the equipment and deployment components manufactured by REGS are performing as designed and expected.
MV has received its third PO from Energy Services Group for $160,000. This project is an H2SPlus system at a waste water treatment plant (WWTP) in New York State. It also recently received a $750,000 PO from a large solid waste provider for an H2SPlus system for a landfill in New York State.
MV continues to realize high-margin, recurring revenue from replacement media sales to over 50 landfills, anaerobic digester systems and WWTP’s in the U.S. and Canada. Increasing media sales to the large, existing base of non-MV systems is expected to minimize the impact of periodic lulls in new system orders. MV’s media sales to date are approximately $1.2 million, with additional expected sales in 2018 to be approximately $1.35 million. MV is currently experiencing a backlog in media orders and intends to expand operations at its Texas SEM facility to meet demand.
Additionally, it is expected that current marketing efforts to place rental systems and provide the accompanying AxTrap granular iron oxide media will drive incremental revenues in the Northern California region in 2018 as a result of increasingly stringent air quality standards.
Further penetration in the California market was recently demonstrated as another landfill was issued a permit to utilize MV’s rental vacuum boxes and AxTrap media. The rental system will require two vessels which will need 60,000 pounds of AxTrap replacement media on a monthly basis. MV expects to receive a PO in the coming quarter.
In the northeast market, MV is in final negotiations for a $170,000 PO with a waste processing facility in Maine and expects to provide a granular update on its next earnings call.
“We are pleased to announce continued operational progress across all divisions,” stated John Combs, Chief Executive Officer of SEER. “On the environmental technology solutions front, REGS’ new industrial cleaning project win is highly encouraging as well. We look forward to announcing further new service project awards as we continue to ramp up for expected equipment manufacturing for BCN and otherwise execute on our 2018 operational goals. MV continues to demonstrate its superior technology solution for gas capture and treatment and is expected to continue its steady growth in both system and high-margin media sales. On the Paragon front, we are seeing elevated interest for our patented Paragon waste destruction technology and are continuing to pursue and secure attractive expansion financing to meet the company-wide growth targets. Management will be providing updates on these developments and efforts in the near future,” 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 two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and ReaCH4biogas ("Reach"). For more information about the Company visit: www.seer-corp.com.
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