Submitted by: Enviro-Energy Corporation
Posted: Feb 07, 2002 – 11:00 PM EST
Feb. 07 /CSRwire/ - Enviro-Energy Corporation (OTCBB:ENGY) (Germany: 676401-EVM.BER) is pleased to announce that following the acquisition of Colvico, Inc., its wholly owned subsidiary, Energy Flow Management Inc. (EFMI) has commenced construction of its first Enviro-Energy Systems(TM) bio-waste-to-energy plant.
This system is being constructed to fill an order for a full line waste treatment and power generation plant for a 250 cow dairy operation in the Portland, Oregon area. It will be the first commercial installation for these proprietary systems. EFMI expects to finish and install the unit by May 30, 2002.
"This is a major and exciting step for our company," states Michael Funk, President of EFMI. "While we have order backlog, and strong sales prospects for the Enviro-Energy Systems(TM) bio-waste-to-energy plants, we did not have the capacity to manufacture and service these systems. The addition of Colvico to our business has given us everything we need to proceed aggressively with this business unit."
EFMI estimates that there are 30,000-50,000 eligible farms in the United States for its smaller, skid mounted, fully encapsulated systems. Of these 1,000 may be considered immediate prospects. Smaller systems will sell for $350,000 to $500,000 each. Funding for these systems is expected to come from conventional financing based upon short pay backs on investments and net economic benefit to the farms, and other sources such as federal and state alternative energy programs, and environmental remediation initiatives. In addition EFMI will install systems on select farms building its own utility within EFMI.
"Once we can point to a fully functional system we expect to move forward with orders from farms and alternative energy providers who wish to own these systems rather than allow EFMI to own as well as service these systems. Accepting these sales will grow our company faster, not unlike the manner in which Microsoft outstripped the growth of Apple. We believe that there is a large enough market for us to maintain steady cash flow growth as owner/operators of our proprietary units while fulfilling a burgeoning market demand without right sales and licensing agreements," continues Mr. Funk. "While we do not expect to immediately book 1,000 orders, we do feel that we can handle 50 to 60 sales this year, representing revenue potential in the order of $15,000,000 to $25,000,000. This is ambitious but well within the range of expressed interest in our systems without adding international market potential, and can be handled with our existing infrastructure, using the combined facilities and manpower of Enviro-Energy Corporation."
Enviro-Energy Corporation is a consolidator and operator of environmentally related businesses. Acquisitions and internal growth focus on energy, air, and water sectors. The Company expects to sustain growth through its aggressive roll up strategy, internal synergies and the deployment of its ENVIRO-ENERGY(TM) systems throughout the world.
For more information, please contact: