Scorpex Increases Equipment Contract to 90 Million Dollars
10 December 2011 - 8:00AM
Business Wire
Scorpex, Inc. (Pinksheets: SRPX) (the "Company"), an emerging
leader of industrial, hazardous and toxic waste disposal services
in the Baja Mexico/California region, has tripled its equipment
contract which is now valued at $90 million dollars with
International Environmental Technologies, Inc. (“IET”) for the
acquisition and installation of waste gasification/thermal
oxidation equipment and licenses. The Company is anticipating a
hazardous and toxic waste supply that will exceed the capacity of
their pre-existing contract with IET. Scorpex has been in contact
with several regional transportation companies and corporations
interested in using its initial site. The IET equipment allows for
expansion by the use of additional pods connected to the main
oxidation unit so the Company can expand its equipment capacity as
its waste supply increases.
IET's patented technology is capable of processing municipal
waste, medical waste and hazardous waste simultaneously without
presorting for maximum efficiency. The oxygen starved system
virtually eliminates noise and noxious odors when operating while
reducing waste volume by 95%. The design of the system also reduces
breeding sites for scavengers, rodents, insects and disease that
are sometimes found in other processes.
Chief Executive Officer Joseph Caywood stated, “I have been
approached by several companies that want to enter into supply
contracts with Scorpex. Without expanding our capacity to take
their waste, these contracts will not benefit the Company and its
shareholders. We believe that expanding this IET equipment is the
quickest and most efficient way to be able to commit to larger
streams of waste.”
About Scorpex, Inc.
Scorpex, Inc. is taking the necessary steps to own and operate a
full service waste disposal and recycling company, capable of
storing and disposing all types of waste, including those
classified as industrial, toxic, and hazardous. The location chosen
for the first Scorpex plant is strategically positioned to
accommodate the vast region of Baja California, Mexico.
For more information, visit www.scorpex.com
This press release may contain certain forward-looking
statements regarding future circumstances. These forward-looking
statements are based upon the Company's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contemplated in such forward-looking statements. Actual results,
events, and performance may differ. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as to the date hereof. The Company undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
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