Integrated Environmental Technologies, Ltd. Provides Update on Marketing of Excelyte(TM) to Energy Industry
April 10 2014 - 2:07PM
Integrated Environmental Technologies, Ltd. (OTCBB:IEVM) today
released the following statement from President and Chief Executive
Officer David R. LaVance:
"In the last few months, the company has made steady progress
with its market strategy for our EcoTreatments™ products,
specifically in the energy industry. The expansion of the oil and
gas industry in western states offers the most significant
opportunity for us right now, particularly in the state of Utah.
Support for smart technologies and new methods for drilling and
water processing has grown in the first quarter of 2014, in large
part due to the ongoing drought conditions and threats to the
nation's water supply. In a column for The Huffington Post, I
shared my thoughts on some of the pressing issues and possible
solutions for the water crisis.
We have been briefing local and state officials at the highest
levels on our unique Excelyte™ product and have discussed with them
the need to embrace a new approach to public-private partnerships
to protect the environment. The conversations have been
positive and reinforce our belief that clean, non-toxic biocides
will soon become a standard in well maintenance and oil and gas
production. Our team continues to work on creating additional
avenues to expand the market's awareness as to the benefits of
using Excelyte as a biocide in oil and gas applications.
In the past quarter, IET has worked with exploration and
production companies in Utah operating in the Uinta Basin to
determine the efficacy of Excelyte in well maintenance applications
and in the treatment of processed water. In the Uinta Basin,
those companies have identified two significant problems in
existing wells: persistence of bacteria and a proliferation of
hydrogen sulfide. We estimate that there are approximately
5,000 additional wells in the Uinta Basin that would benefit from
the regular use of Excelyte as part of a well maintenance
program.
IET estimates the market potential for a combination biocide and
hydrogen sulfide scavenger used in well maintenance, well drilling
and oil and gas production applications to exceed $50 million
annually in Utah alone, and nationwide potential that could exceed
$2.5 billion annually. The growing concerns for conservation
of water are causing oilfield operations to recycle water rather
than to source new water for well drilling and oil and gas
production operations. This practice has a tendency to lead to
cross-contamination of wells with bacteria – which may increase the
presence of bacteria and hydrogen sulfide, creating a large
opportunity for a non-toxic, effective biocide and hydrogen sulfide
scavenger such as Excelyte that can minimize any
cross-contamination issues related to bacteria."
About Integrated Environmental Technologies,
Ltd.
Integrated Environmental Technologies, Ltd., is a
publicly-traded company that operates through its wholly-owned
operating subsidiary, I.E.T., Inc. All of the company's
products and services are marketed and sold under the umbrella
brand name, EcoTreatments™. The company markets and sells its
anolyte disinfecting solution under the Excelyte™ brand name, which
is produced by the company's proprietary EcaFlo™ equipment that
utilizes an electrolytic process known as electrochemical
activation to reliably produce environmentally responsible
solutions for cleaning, sanitizing and disinfecting. Excelyte
solutions are EPA-registered, hard-surface disinfectants and
sanitizers approved for hospital-level use and are also approved
for use as a biocide in oil and gas drilling. The products can
be used safely anywhere there is a need to control pathogens,
bacteria, viruses, and germs. The company's EcaFlo equipment
also produces a cleaning solution that the company sells under the
Catholyte Zero™ brand name. Catholyte Zero solutions are
environmentally friendly cleansers and degreasers for janitorial,
sanitation and food processing uses. The company is currently
focused on selling its Excelyte solutions to oil and gas production
companies, healthcare facilities and agriculture and dairy
farmers. To learn more, visit www.ecotreatments.com.
Forward-Looking Statements
Statements about the company's future expectations and all other
statements in this press release other than historical facts are
forward-looking statements. Such statements are subject to certain
risks, trends and uncertainties that could cause actual results to
differ materially from expected results. Among these risks,
trends and uncertainties are economic conditions both generally and
within the industries in which the company may participate;
competition within the company's chosen industries, including
competition from much larger competitors; technological advances;
available capital; regulatory approval; and failure by the company
to successfully develop or acquire products and form new business
relationships. Since these statements involve risks and
uncertainties and are subject to change at any time, the company's
actual results could differ materially from expected results.
CONTACT: Integrated Environmental Technologies
Thomas S. Gifford
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
chase@capitolmediapartners.com