ENVIROTEK Signs LOI for Control of Established Alternative Fuel and Special Vehicle Conversion Company With $25M Revenue Orders
February 24 2010 - 1:37PM
Marketwired
ENVIROTEK (PINKSHEETS: ENTK) today announced
the company has entered in to a Letter of Intent (LOI) for
controlling interest of an established privately owned alternative
fuel and special vehicle conversion company operating several
company owned facilities.
ENVIROTEK spokesperson Eric Von today
announced both parties have signed the LOI which will enable
ENVIROTEK to acquire controlling Interest of the Alternative Fuel
and Special vehicle Conversion Company. The terms of the
transaction remain confidential at this time as per the conditions
of the executed LOI and non disclosure agreement. Mr. Von further
confirmed the company already has work in progress, and orders to
date in excess of $25M this year at several of the company's
facilities.
ENVIROTEK President Robert Thompson
stated, "This is a huge acquisition for ENVIROTEK adding completely
synergetic technology and products to the already expanding 'GREEN'
companies owned or controlled by ENVIROTEK. This alternative fuel
conversion company already has orders in progress, and on the books
in excess of $25M for year 2010, with an absolute possibility to
significantly expand that number this year. This acquisition is
completely in sync with ENVIROTEK'S 'GREEN' energy alternative
fuels programs and operations. Particularly with our Extreme
Bio-Diesel division, along with our growing portfolio of 'Green'
alternative fuel and energy companies." Mr. Thompson further stated
that a significant amount of the Alternative Fuel Conversion orders
already in progress, and on the books are for nationwide
municipalities racing to be in compliance with both state and
federal emission control mandates.
EXTREME BIODIESEL Extreme Biodiesel, an
Envirotek controlled company, has recently been very active in
adapting the companies Corona, California Biodiesel refinery to
accommodate alternative feedstock supplies as raw material for the
production of high grade Biodiesel fuels. With the recent
withdrawal of the federal and state tax and carbon credit
incentives, many Biodiesel facilities have been forced to close or
move to "Idle" mode. ENVIROTEK'S Extreme Biodiesel scientific team
believes it has found a solution to continue advanced production,
remain profitable and increase the supply of premium quality
Biodiesel fuels from an alternative feedstock supply without the
added incentive of immediate carbon and tax incentive programs.
ALL GREEN ENERGY Representatives from
Envirotek's All Green Energy, division were recently asked by
Station Casinos, and Hard Rock Hotel to review and analyze several
additional properties for the install of the Energy Saving Devices.
Station Casinos representatives have indicated that they are very
pleased with the CEU units that were recently purchased and
installed at Station's Fiesta Henderson facility and are ready to
move forward with installations at other facilities. On the East
Coast Company representatives have installed several test units for
energy savings review in large corporate facilities. The company is
also in the process of consolidating an LED lighting distribution
contract to further provide energy saving internal lighting
solutions for Las Vegas Casinos, Hotels, Administrative buildings
and Medical facilities where lighting is required 24 hours a day.
The use of LED lighting can significantly reduce the energy bills
and have a life span of up to 10 times that of a traditional
fluorescent tube.
ENVIROTEK: "PROVIDING
TOMORROW'S GREEN SOLUTIONS TODAY" Our initiative is to help
change the way the world looks at the Environment, and provide
solutions to "GO GREEN." Envirotek is an emerging green
acquisitions company that plans to introduce multiple advanced
innovative technology solutions to a growing crisis throughout the
world. Our goal is to improve the health, environment and economy
of people around the world by supplying proprietary technology that
can be used in both new and existing systems to convert them to
GREEN and to create Alternative Energy and Fuel Solutions.
A NOTE FROM THE ENVIROTEK BOARD OF
DIRECTORS: ENVIROTEK'S staff and accounting personal are
diligently pursuing the filing of the company's consolidated
holdings financial statements and Pinksheets disclosure statements
as soon as possible. ENVIROTEK would advise shareholders and
Investors that it may appear that PINKSHEETS.com is a regulatory
authority that is not the case, and the information they disclose
is at their discretion, as a private corporation which requires a
mandatory annual subscription by actual Pink Sheet companies to
display their corporate structure on PINKSHEETS.com. However the
option by companies to voluntarily have their information removed
from PINKSHEETS.com is not available, and PINKSHEETS.com at that
point attach their own versions of companies status, i.e. STOP,
Limited Information, Caveat Emptor etc... This does not affect the
day to day operations of most legitimately operated Pink Sheet
companies. That being said, Envirotek has paid picksheets.com
required fees, and is committed to updating information with
pinksheets.com expeditiously as we feel it is in the best interest
of the shareholders.
View this release in video format:
http://www.vodnewswire.com/vodnewswire/news/envirotek-20100224/
Safe Harbor Statement: This release
includes forward-looking statements intended to qualify for the
safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as ENTK or its
management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar
import. Similarly, statements herein that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in
forward-looking statements.
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Contact Eric Von Envirotek 949-999-2022
www.envirotekusa.org