Environmental Safeguards Announces Recycling Contract With Rineco
new.stockwatch.com 2003-01-27 06:00 - News Release
HOUSTON, Jan. 27 /PRNewswire-FirstCall/ -- Environmental Safeguards, Inc. (BULLETIN BOARD: ELSF) said today that it signed a contract to process various waste streams at a facility owned by Rineco Chemical Industries, Inc., a privately owned concern located in Benton, Arkansas.
Environmental Safeguards said it is using its own proprietary Indirect Thermal Desorption (ITD) technology and equipment, manned by its own trained personnel, to complete the project.
James S. Percell, chairman and president, stated: "This is a reflection of our continued marketing efforts in the industrial arena."
The Company's patented ITD technology uses a heat jacketed rotating chamber that vaporizes hydro-carbons and hydrocarbon derivatives from contaminated materials, and a condenser that liquefies the vapor into hydrocarbon liquids of better than 99% purity, for reuse. A single ITD unit can process one to 10 short tons of waste per hour, depending on its content. In addition to the United States, soil remediation and hydrocarbon recycling operations have been successfully conducted in Mexico, Colombia, Venezuela, Scotland and the U.A.E. Since becoming fully operational six years ago, the Company has processed more than 750,000 tons of contaminated waste, recovering in excess of 15 million gallons of hydrocarbon fluids.
The Forward Looking Statements or Projections contained herewith involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed and, accordingly, should be read in conjunction with the Company's 10-K for the year ended December 31, 2001, with particular reference to Information Regarding and Factors Affecting Forward Looking Statements in the Management Discussion and Analysis of Financial Condition and Results of Operations.
Environmental Safeguards, Inc.
CONTACT: RF Hengen Inc., +1-908-508-9000, for Environmental Safeguards, Inc.; or James S. Percell, Chmn & Pres of Environmental Safeguards, Inc., +1-713-641-3838