LITTLE RIVER, S.C.,
Feb. 13, 2015 /PRNewswire/ --
Integrated Environmental Technologies, Ltd. (OTCBB: IEVM) today
announced that it closed on a $1,960,000 financing through the sale of its
common stock. The company will use the proceeds from this
financing to continue its expansion of its oil and gas operations
in the Uinta Basin in Utah and the
Permian Basin in New Mexico and it
expects to add an additional production facility in the Permian
Basin in Texas.
David R. LaVance, the Company's
President and Chief Executive Officer, commented, "The success of
our Excelyte™ well maintenance treatments over the past several
months has created a large opportunity for our business. This
financing will provide us with the capital we need to grow our oil
and gas operations and to build our team in order to meet our
market opportunities."
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
sulfate-reducing bacteria, which are known to produce hydrogen
sulfide. The Company's down-hole well maintenance operations
consist of treating oil production wells that test positive for
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 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 markets 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, Ltd.
Thomas S. Gifford
732-820-1415
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
323-377-5653
chase@capitolmediapartners.com
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SOURCE Integrated Environmental Technologies, Ltd.