Integrated Environmental Technologies, Ltd. Announces Significant Step in Addressing the Multi-Billion Dollar Market for Hydr...
May 06 2014 - 2:18PM
Integrated Environmental Technologies, Ltd. (OTCBB:IEVM) today
announced that it has commenced down-hole well maintenance of
natural gas wells for a new customer in the Uinta Basin in Utah
using the Company's flagship Excelyte™ product. These down-hole
operations consist of treating natural gas production wells that
contain hydrogen sulfide, which is a toxic and corrosive chemical
that frequently appears in oil and gas production. Excelyte
acts as a hydrogen sulfide scavenger and as a biocide that kills
sulfur-reducing bacteria, which are known to produce hydrogen
sulfide. The company has successfully treated two wells,
reducing the amount of hydrogen sulfide in each of the producing
wells to a level significantly better than accepted industry
standards for safe well operations. The company expects to
continue treating those two wells, as well as commencing treatment
on approximately 150 other gas producing wells that the customer
operates in the Uinta Basin.
David R. LaVance, the Company's President and Chief Executive
Officer, commented, "I am very pleased that we have gained a new
customer and commenced down-hole well maintenance treatments of gas
wells. I believe that this application, along with the
treatment of water used in hydraulic fracturing, represents a $50
million market opportunity for us in the Uinta Basin and
potentially a $2.5 billion market opportunity in the United
States. I am pleased to see Excelyte successfully address two
large problems in gas production wells in an eco-friendly
manner: elimination of bacteria and reduction of hydrogen
sulfide. In the month of May, we expect three additional
companies to conduct down-hole applications in Uinta Basin – the
initial test market IET is using to demonstrate the product's
efficacy in addressing complex geological issues underground."
Since gaining EPA approval, Excelyte has been used by select
companies to treat processed water. The Uinta Basin was
identified as the starting point for operations due to two
significant problems in the region's existing
wells: persistence of bacteria and a proliferation of hydrogen
sulfide in the wells. Excelyte is an eco-friendly solution
used to disinfect water utilized in hydraulic fracturing and well
maintenance and to prevent groundwater contamination by killing
bacteria and viruses. It also enables energy producers to
reuse as much as 20% of the significant quantities of water used in
the fracking process.
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