Current Report Filing (8-k)
August 22 2014 - 5:04PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
July 25, 2014
INTEGRATED
ENVIRONMENTAL TECHNOLOGIES, LTD.
(Exact name of registrant as specified
in charter)
Nevada |
000-26309 |
98-0200471 |
(State or other jurisdiction of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
4235 Commerce Street, Little River, South Carolina |
29566 |
(Address of principal executive offices) |
(Zip Code) |
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Registrant’s telephone number,
including area code: (843) 390-2500
(Former name or former address, if changed since
last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 8 – Other
Events
Item 8.01. Other Events.
On July 25, 2014, Integrated
Environmental Technologies, Ltd. issued a press release announcing that it had increased sales of Excelyte™ for well maintenance
application.
A copy of the press release
is attached hereto as Exhibit 99.1.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits:
Exhibit No. |
Description |
99.1 |
Press Release Re: Integrated Environmental Technologies, Ltd. Increase Sales of Excelyte™ for Well Maintenance Application |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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INTEGRATED ENVIRONMENTAL TECHNOLOGIES, LTD. |
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August 22, 2014 |
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By: |
/s/ David R. LaVance |
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David R. LaVance |
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President and Chief Executive Officer |
EXHIBIT INDEX
Exhibit No. |
Description |
99.1 |
Press Release Re: Integrated Environmental Technologies, Ltd. Increase Sales of Excelyte™ for Well Maintenance Application |
EXHIBIT 99.1
INTEGRATED ENVIRONMENTAL TECHNOLOGIES, LTD.
INCREASES SALES OF EXCELYTE™
FOR WELL MAINTENANCE APPLICATION
Company Commences Excelyte™ Treatment
of Oil Production Wells for Large Producer in Uinta Basin
LITTLE RIVER, S.C., July 25, 2014 – Integrated
Environmental Technologies, Ltd. (OTCBB: IEVM) today announced that it has increased the use of its flagship Excelyte™ product
in the Uinta Basin in Utah. The company added a new customer with significant oil producing operations in the Uinta Basin and successfully
completed the initial treatment on six of the customer’s oil producing wells, reducing the amount of hydrogen sulfide in
each of the oil wells treated with Excelyte. The company expects to continue treating those six wells over the next month and commence
treatment of additional oil wells for this customer within the next two months, with the goal of treating up to approximately 300
other similar oil producing wells that the customer operates in the Uinta Basin within the next year. The company’s current
customers in the Uinta Basin, including this customer, have collectively identified approximately 450 oil and gas wells suitable
for well maintenance treatment by Excelyte. The company estimates that up to approximately 2,835,000 gallons of Excelyte could
be used during the first twelve months of well maintenance treatments on these oil and gas wells, assuming that the company treated
all 450 wells.
David R. LaVance, the company’s President
and Chief Executive Officer, commented, “We have been working diligently with this customer over the past several months
and I am very pleased that the customer has commenced down-hole well maintenance treatments of its oil wells. As highlighted in
a recent article in Forbes Magazine, we believe that Excelyte provides significant benefits to oil and gas production companies
when used as a biocide and a hydrogen sulfide scavenger. We continue to aggressively pursue sales opportunities for Excelyte in
the Uinta Basin for both well maintenance applications and the treatment of water used in hydraulic fracturing, and believe that
both of these applications combined represent a potential $50 million market opportunity for us in the Uinta Basin and a potential
$2.5 billion market opportunity for us in the United States.”
Hydrogen sulfide 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’s down-hole well maintenance operations consist of treating
oil production wells that contain hydrogen sulfide with regularly scheduled applications of Excelyte.
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.
Contacts:
Integrated Environmental Technologies
Thomas S. Gifford
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
chase@capitolmediapartners.com