LITTLE RIVER, S.C.,
Sept. 29, 2014 /PRNewswire/ --
Integrated Environmental Technologies, Ltd. (OTCBB: IEVM) today
announced that it has commenced well maintenance treatments
utilizing its flagship product Excelyte™ on five additional oil
producing wells for an existing customer, and now is treating an
aggregate of eleven wells for this customer. The company is
in the process of scheduling well maintenance treatments for
additional oil producing wells operated by this customer in the
Uinta Basin 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.
David R. LaVance, the company's
President and Chief Executive Officer, commented, "The success that
we experienced in treating the first six wells for this customer
during the end of July and August
2014 provided our customer with the confidence to expand its
use of Excelyte to additional oil wells. The results have
shown that Excelyte reduces the level of hydrogen sulfide in oil
wells faster than competing products which we believe is due to
Excelyte's ability to kill sulfide producing bacteria instantly. In
addition, Excelyte's non-toxic nature makes it a safer product to
administer and a more environmentally friendly product when
compared to competing products. If a customer follows our
suggested Excelyte treatment protocol, it can significantly reduce
or essentially eliminate hydrogen sulfide from its oil wells.
Each well that we treat should provide us with recurring
revenue as we continue treatments of the well throughout the well's
production life. We are very excited about the prospects of
further expanding our well maintenance application for this
customer and in gaining additional customers in the Uinta
Basin. In addition, a prospective customer has requested that
we commence Excelyte well maintenance treatments on its oil and gas
wells in the Permian Basin in the southwest region of the United
States. Accordingly, we are in the process of establishing a
production facility in order to service this customer. Entry
into the Permian Basin has been part of our strategic plan given
the number of active oil and gas wells and the hydrogen sulfide
problems that are present in the area."
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 companythat 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
732-820-1415
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
323-377-5653
chase@capitolmediapartners.com
SOURCE Integrated Environmental Technologies, Ltd.