Enzyme Environmental Solutions Enters Into a Letter of Intent for the Sale of GC2000
June 27 2008 - 10:00AM
Marketwired
FORT WAYNE, IN CEO Jared Hochstedler announced today that the
company has entered into a letter of intent with VESCOR, Inc.
giving VESCOR, Inc., 60 days to complete the final sale of
GC2000.
Hochstedler commented, "This letter of intent has been signed
with VESCOR, Inc. to purchase the GC2000 process. A sizable down
payment accompanied the signing. This process will be used in the
scrap industry to separate hydrocarbons from auto residue, also
known as 'fluff.' VESCOR, Inc., as announced in a press release on
June 24, 2008, entered into an exclusive agreement with Integrated
Building Engineering & Architectural Management, Inc. (IBEAM)
to design and build the extraction facilities."
John Modezjewski, President of VESCOR, stated, "This process has
tremendous potential for the scrap yard industry. Not only will
companies that process scrap material be able to increase profits
by reducing waste, we may actually be able to mine material out of
existing landfills. You can't get any more green than that. I am
looking forward to our relationship with EESO as we continue to
capitalize on this new technology. Jared is just a delight to work
with as he lives his conviction to create sustainable
products."
Tim Gerig, President of IBEAM, Inc., commented, "This is an
exciting opportunity for our company. We are confident demand for
the GC2000 product will continue to rise as more and more companies
invest in the technology. This is just the beginning. IBEAM plans
on adding 30 new high-tech jobs in Fort Wayne over the next 2
years."
"The development of GC2000 project has been a major focus for
our company. In addition to building up raw material inventory,
purchasing equipment and payroll, there has been a great amount of
resources dedicated to advancing the GC2000 project to this point
in such a short period of time. The preparation of architectural
drawings and the final laboratory testing has been expensive. I
anticipate wrapping up final terms with VESCOR by the middle of
July. The GC2000 is a multimillion-dollar process that has the
potential of being in every scrap yard throughout the world within
the next two years. With VESCOR and IBEAM involved I have no doubt
we will be able to bring GC2000 to market in huge way," concluded
Hochstedler.
Tim Gerig, John Modezjewski and other company representatives
will be at the EESO open house later today to answer any
questions.
This press release contains certain "forward-looking"
statements, as defined in the United States Private Securities
Litigation Reform Act of 1995 that involve a number of risks and
uncertainties. Statements, which are not historical facts, are
forward-looking statements. The Company, through its management,
makes forward-looking public statements concerning it expected
future operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
Company's best judgment based upon current information and involve
a number of risks and uncertainties, and there can be no factors
that could cause actual results to differ materially from those
estimated by the Company. They include, but are not limited to, the
Company's ability to develop operations, the Company's ability to
consummate and complete the acquisition, the Company's access to
future capital, the successful integration of acquired companies,
government regulation, managing and maintaining growth, the effect
of adverse publicity, litigation, competition, sales and other
factors that may be identified from time to time in the Company's
public announcements.
Contact: Enzyme Environmental Solutions, Inc. Jared Hochstedler
President/CEO www.enzymeenvironmentalsolutions.com Brian Kistler
260-450-8823
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