CALGARY and
SCOTTSDALE, AZ, April 15, 2013 /CNW/ - Ridgeline Energy Services
Inc. ("Ridgeline" or the "Company") (TSXV: RLE, OTCQX: RGDEF,
FSE: RL7) a technology driven company operating in the waste
water industry, today announces that, further to its news releases
of February 5, 2013 and March 11, 2013, it has, subject to receipt of
final TSX Venture Exchange approval, completed the acquisition of
all the partnership interests in Changing World Technologies, L.P.,
a Delaware limited partnership
("CWT LP") pursuant to a unit purchase agreement dated effective
March 11, 2013.
CWT LP has two operating subsidiaries, Renewable
Energy Solutions, LLC and TDP, LLC, which includes the Carthage facility where over $60 million dollars was invested in the
construction and operation of a refinery for the production of
renewable diesels, a waste water treatment plant, real estate and
buildings. The Company has, through its wholly owned USA subsidiary, become the sole limited
partner of CWT LP. The operating plant is set on just over six rail
served acres outside Carthage,
Missouri. The property location and infrastructure has
capacity to process over 150 million gallons of waste water
annually.
Mr. Dennis M.
Danzik, CEO of Ridgeline, stated, "The Company has now
closed two significant acquisitions -- our Santa Fe Springs
facility and now our new Missouri
facility. Our Missouri plant is a
world class facility that completes the Company's transition into a
fully integrated waste water business. Our existing Ridgeline
technologies for waste water treatment and the production of the
resulting effluent into diesel equivalent fuel is now proven. These
two assets are expected to continue to grow revenues and
profitability."
Danzik also stated, "Our latest management
agreement and subsequent acquisition of the property also
demonstrate the Company's ability to identify attractive assets
where Ridgeline technology can be installed and add substantial
value. Once installed, Ridgeline technology is disruptive,
resulting in swift customer and revenue gains. The application of
the Company's technology, proven management and second-to-none
market development experience are keys to improved business
performance and our rapidly growing balance sheet, which now
includes substantial real estate holdings."
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is a technology
driven company operating in the waste water industry. The Company
is applying proprietary technology to treat water generated from
industrial and commercial waste water markets. These markets
include a wide variety of clients across a broad spectrum of
industries including oil and gas. Through its environmental
consulting and remediation divisions, Ridgeline Environment
has built a reputation as an established provider of environmental
services to the Western Canadian oil and gas industry. Ridgeline
GreenFill provides soil remediation and wet waste disposal
services to the oil and gas industry. The Company trades on the TSX
Venture Exchange under the symbol "RLE", the OTCQX as "RGDEF" and
the Frankfurt Stock Exchange as "RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Tony Ker"
Tony Ker
Executive Chairman
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may contain forward-looking statements. Forward-looking statements
address future events and conditions and therefore, involve
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or events and cause actual results or events to differ materially
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future results, levels of activity or achievements."
SOURCE Ridgeline Energy Services Inc.