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Enviro-Energy Corporation Receives New Orders, Upgrades 2002 Forecasts
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
Enviro-Energy Corporation Receives New Orders, Upgrades 2002 Forecasts
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FOR IMMEDIATE RELEASE
Enviro-Energy Corporation Receives New Orders, Upgrades 2002 Forecasts
WASHINGTON, SPOKANE, Mar. 4 -/E-Wire/-- Energy Flow Management, Inc. (EFMI), a wholly owned subsidiary of Enviro-Energy Corporation (OTCBB:ENGY - Germany: 676401-EVM.BER), www.enviro-energycorp.com, today released new order activity forcing an upgrade of its 2002 estimates by $8,600,000. Total revenue forecast for Enviro-Energy Corporation is subsequently upgraded to $53,600,000.
Recent order activity resulting from sales activities focused on the beef and dairy industry has caused EFMI to upgrade its order and revenue forecast for this year. During the week ending March 1st, 2002, the company presented its Enviro-Energy(TM) Bio-Waste-To-Energy Systems at the New Mexico Ag Expo held in Portales, New Mexico. Order interest was immediate and intensive, generating a substantial inventory of prospects expected to order within the next 30 days and an immediate $1,600,000 order for a 2000 head dairy located in Texas.
EFMI has further entered into an agreement with a real estate development company based in Western Washington State for a series of Systems. The agreement calls for immediate delivery of one skid mounted Enviro-Energy(TM) Bio-Waste-To-Energy System with provisions for an additional 5 larger scale Systems this year. The customer has placed no upper limit to the total number of Systems. Although final numbers will depend upon the location of each System, EFMI values the 6 System package at $7,000,000.
"In the highly conservative cattle and dairy environment it is extremely unusual to generate such immediate order activity,' states Michael Funk, CEO of Energy Flow Management, Inc. "While we had made our 2002 estimates based upon well developed sales opportunities, these new orders were unexpected and in addition to existing prospects. We have also moved into advanced stages of contract negotiation with a number of other farms significantly larger than those listed in this report, which will further skew our 2002 revenues higher than forecasted. We will report in a timely manner as they mature.
"We again caution the market that we have introduced manufactured technology into a market with mature demand, meaning that we have no accurate means of predicting the actual immediate revenue potential other than responding to immediate order demand and relating these results as they occur. We encourage the public to visit the bio-waste sections of our website www.enviro-energycorp.com to review market and technology information.'
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 tosustain growth through its aggressive roll up strategy, internal synergies and the deployment of its ENVIRO-ENERGY(TM) systems throughout the world.
Forward-looking statements in this release are made pursuant to the "safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third party suppliers, intellectual property rights and the other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission Fair Disclosure Regulation, effective, October 2000.
Enviro-Energy Corporation
Energy Flow Management, Inc., Michael Funk, 509/252-5827, [REDACTED-EMAIL] or
Enviro-Energy Corporation, Galen Loven, 509/921-9150
[REDACTED-EMAIL]
http://www.enviro-energycorp.com
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