Integrated Environmental Technologies, Ltd. Increases Sales of Excelyte(TM) for Well Maintenance Application
25 July 2014 - 10:00PM
Integrated Environmental Technologies, Ltd. (OTCBB:IEVM) today
announced that it has increased the use of its flagship Excelyte™
product in the Uinta Basin in Utah. The company added a new
customer with significant oil producing operations in the Uinta
Basin and successfully completed the initial treatment on six of
the customer's oil producing wells, reducing the amount of hydrogen
sulfide in each of the oil wells treated with Excelyte. The company
expects to continue treating those six wells over the next month
and commence treatment of additional oil wells for this customer
within the next two months, with the goal of treating up to
approximately 300 other similar oil producing wells that the
customer operates in the Uinta Basin within the next year. The
company's current customers in the Uinta Basin, including this
customer, have collectively identified approximately 450 oil and
gas wells suitable for well maintenance treatment by
Excelyte. The company estimates that up to approximately
2,835,000 gallons of Excelyte could be used during the first twelve
months of well maintenance treatments on these oil and gas wells,
assuming that the company treated all 450 wells.
David R. LaVance, the company's President and Chief Executive
Officer, commented, "We have been working diligently with this
customer over the past several months and I am very pleased that
the customer has commenced down-hole well maintenance treatments of
its oil wells. As highlighted in a recent article in Forbes
Magazine, we believe that Excelyte provides significant benefits to
oil and gas production companies when used as a biocide and a
hydrogen sulfide scavenger. We continue to aggressively pursue
sales opportunities for Excelyte in the Uinta Basin for both well
maintenance applications and the treatment of water used in
hydraulic fracturing, and believe that both of these applications
combined represent a potential $50 million market opportunity for
us in the Uinta Basin and a potential $2.5 billion market
opportunity for us in the United States."
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
sulfur-reducing bacteria, which are known to produce hydrogen
sulfide. The company's down-hole well maintenance operations
consist of treating oil production wells that contain 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 safely 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. The company is currently
focused on selling its Excelyte solutions to oil and gas production
companies, healthcare facilities and agriculture and dairy
farmers. 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.
CONTACT: Integrated Environmental Technologies
Thomas S. Gifford
tgifford@ietltd.net
Capitol Media Partners
Brad Chase
chase@capitolmediapartners.com