LITTLE RIVER, S.C.,
Oct. 9, 2014 /PRNewswire/
-- Integrated Environmental Technologies, Ltd. (OTCBB:
IEVM), announced today that it posted a letter from David R. LaVance, the company's President and
Chief Executive Officer, on its website,
www.ecotreatments.com. This letter provides an overview of
IET's 2014 corporate activities and achievements to date as well as
an update on the IET's business strategy. The letter is set
forth below:
Dear Fellow Stockholders:
I am writing to update you on the progress that Integrated
Environmental Technologies has made since the beginning of
2014. There has been considerable momentum building in the
company's transformation from being a development company to a
revenue-producing one.
Oil and Gas
As I indicated in my last letter to stockholders in January 2014, the oil and gas market is a large,
open market for our Excelyte™ product. We currently segment
our activities in the oil and gas business into three main
categories:
Well Maintenance – focuses on using Excelyte as a hydrogen
sulfide scavenger to significantly reduce or essentially eliminate
hydrogen sulfide in operating wells and related equipment;
Drilling and Completions – focuses on using Excelyte as a
biocide to significantly reduce the amount of bacteria present in
water before the water is used in hydraulic fracturing; and
Water Remediation – focuses on using Excelyte as a hydrogen
sulfide scavenger and as a biocide to treat water after it is used
in hydraulic fracturing in order to remove bacteria so that the
water can either be re-used in hydraulic fracturing or
disposed.
To date, the majority of our efforts have focused on well
maintenance. Hydrogen sulfide is one of the leading threats
to oilfield worker safety, claiming lives every year because of its
toxicity at very low levels of concentration. A particular
emphasis for oil and gas producers is controlling the level of
hydrogen sulfide at or near the well head.
We originally focused our attention on Utah's Uinta Basin, in order to generate test
results and demonstrate success of the product in the market.
These test results confirmed that Excelyte is effective as a
hydrogen sulfide scavenger and as a biocide. The results show
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 rapidly.
In addition, Excelyte's naturally occurring properties make
it easier to administer and more environmentally friendly than
competing products.
Over the past few months we worked with our customers and
prospects in the Uinta Basin to introduce Excelyte as a down-hole
well maintenance application. IET developed appropriate
treatment protocols and application methods, establishing the
necessary delivery channels and gaining approval from customers to
commence well maintenance treatments. In short, Excelyte has
worked, and worked well, in the treatment of oil wells. In
each of the oil wells that we treated with Excelyte, we
significantly reduced the level of hydrogen sulfide present.
We believe that our Excelyte treatment protocol can significantly
reduce or essentially eliminate hydrogen sulfide from our
customers' oil wells. One customer has expanded Excelyte well
maintenance treatments to eleven oil wells and has approximately
440 additional oil wells with hydrogen sulfide problems that we
could treat in the Uinta Basin. If our customer requests that
we treat each of these oil wells, under our current treatment
protocol and pricing structure we could generate sales of
approximately $3,000,000 on an annual
basis.
The success with our Excelyte well maintenance treatments has
led us to begin expansion of our operations in the Uinta Basin, and
to initiate marketing in other basins. In the Uinta Basin, we
are expanding our presence, acquiring additional space and
increasing production capability. We estimate that there are
over 5,000 wells in the Uinta Basin that would benefit from the
regular use of Excelyte as part of a well maintenance
program.
In addition, we are in the process of establishing a production
facility in order to service a prospective customer that requested
we commence Excelyte well maintenance treatments on its oil and gas
wells in the Permian Basin (New
Mexico and Texas). We
expect to be operational in the Permian Basin before year's
end. We also are evaluating other basins, such as the
Williston Basin (North Dakota) and the Piceance Basin
(Colorado).
We are currently focused on generating recurring revenue through
the sale of Excelyte, but as we grow and improve our cash flow, we
will look to establish additional revenue streams such as providing
delivery and pumping services to our customers. We continue
to believe that the three oil and gas market segments noted above
potentially represent a $50 million
market opportunity in the Uinta Basin and a $2.5 billion market opportunity in the United States.
All of this activity will require an expansion of our labor
force and the investment into production depots. To that end,
we recently hired Bradley W. Rockman
as the President and General Manager of our Oil and Gas
Division. Brad is based in Denver,
Colorado and has over 35 years of experience in the
industry, selling and supplying chemicals both domestically and
internationally. We expect additional hires to be forthcoming
as expansion occurs.
Healthcare and Food Production
We continue to remain interested in the healthcare market and
food production market, but our emphasis on oil and gas has
required a dedication of a majority of our resources in that
direction. We have ongoing discussions in each of these
markets with potential distribution partners regarding the sale of
Excelyte.
Excelyte kills a wide range of bacteria and viruses including,
Mycobacterium bovis (Tuberculosis), Salmonella
enterica, Pseudomonas aeruginosa, Staphylococcus
aureus, methicillin-resistant Staphylococcus aureus
(MRSA) and H1NI influenza virus (swine flu). Excelyte also
kills hospital-acquired pathogens such as Clostridium
difficile spores (C. diff) and vancomycin-resistant
enterococci (VRE) as well as two carbapenem-resistant
enterobacteriaceae (CRE) known as Klebsiella pneumoniae
carbapenemase (KPC) and New Delhi Metallo-beta-lactamase
(NDM). Further, the high-risk blood-borne pathogen human
immunodeficiency virus (HIV) and the food-borne pathogens
Listeria monocytogenes and Escherichia coli (E.
coli) are killed by Excelyte.
In March 2014, we received
approval from the U.S. Environmental Protection Agency to market a
new Excelyte product called Excelyte VET – which can be used to
prevent Canine distemper. Canine distemper is highly
contagious and is the leading cause of infectious disease deaths in
dogs worldwide. The new product registration (EPA
Registration #82341-4) also allows the company to market Excelyte
VET to prevent the spread of Canine parvovirus and Bordetella
bronchiseptica. We are currently working with a
distribution partner as it prepares for the market launch of
Excelyte VET.
In addition, during June 2014,
Carson Tahoe Health Systems published the results of its
independent study showing the effectiveness of Excelyte in reducing
the amount of bacteria present in a hospital setting. The
study also highlighted Excelyte's naturally occurring properties,
which do not corrode hospital equipment like more commonly used
chemicals.
Focus for Remainder of 2014
For the remainder of 2014, we will continue to dedicate the
majority of our resources to the sale of Excelyte in the oil and
gas market. In healthcare, we will seek distribution partners
for Excelyte as planned, but will ask such partners to contribute
to the funding of the development of Excelyte in this market so
that we may focus our resources on the oil and gas market.
Likewise, in food production, we will look to recruit distributors
for Excelyte, thereby utilizing outside resources to expand into
this market.
Our overall corporate objective is growth, namely revenue
growth, and we believe that continued expansion into the oil and
gas market provides us the best approach to achieving our
goal. We want to again express our appreciation to our
stockholders, customers and our team at IET.
Sincerely,
/s/ David R. LaVance
Chairman, President &
Chief Executive Officer
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 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. 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.