CleanTech Manufacturer, EVTN Announces 300% Increase In 9 Month Revenues Vs. Entire Prior Year, Along With 3rd Quarter Results
FORT LAUDERDALE, Fla., Dec. 2 /PRNewswire-FirstCall/ -- Enviro Voraxial Technology, Inc. (OTCBB: EVTN) announced a 300% increase in revenues for the first 3 quarters of 2009, as compared to the entire year of 2008. EVTN, manufacturer of the Voraxial ® Separator, posted its best sales growth, despite the worst global economic climate in decades as revenues for the first 3 quarters of 2009 increased to $431,000.
EVTN achieved profitability in the third quarter, according to GAAP financials, helped by the sale of depreciated equipment. Accelerating business activity includes completed and pending orders, plus active negotiations for applications across global, multi-billion dollar market sectors. Customers, that include some of the world’s largest companies, indicate the importance of EVTN’s Voraxial ® technology and its potential for continued growth. Increased revenues dramatically confirm EVTN’s transition from R&D stage to full commercialization. EVTN’s Voraxial ® Separator, a proven highly efficient separation device, represents an economic solution to critical separation requirements across a range of multi-billion dollar market, which includes oil exploration & production, mining and waste-to-energy.
“EVTN is responding to an increasing number of inquiries for the Voraxial ® Separator from major industrial and service companies,” stated John A. DiBella, VP of EVTN. “The future revenue potential from these pending opportunities range from a hundred thousand dollars to millions of dollars per project. We believe, based on current activity, that we can expect continued growth in 2010.”
To view 3rd Quarter financials, please view:http://www.sec.gov/Archives/edgar/data/1043894/000109991009000128/evtn_10q.htm ABOUT EVTN : Enviro Voraxial Technology, Inc. (OTCBB “EVTN”) www.EVTN.com is the Fort Lauderdale, Florida based developer and manufacturer of the Voraxial ® Separator, arguably the world's most efficient, high volume fluid and fluid/solid separation technology. The separation market encompasses a series of multi-billion dollar segments, spread globally across many industries and applications. As the developer of this dramatically superior, extensively patented separation technology, the economic implications for EVTN should be significant. EVTN’s Voraxial ® separation systems have completed projects with many of the world’s top industrial companies, including ConocoPhillips, Cameco, Repsol, US Navy and Transocean. EVTN was originally founded as a high precision aerospace manufacturer that built the gyro platforms for the Hubble space telescope as well as missile and satellite components. EVTN re-invested its profits along with equity investors (that include two European Intuitions) toward the development of the Voraxial ® Separator. The Voraxial ® is now successfully commercialized and is the exclusive focus of EVTN’s business. EVTN owns significant IP surrounding the Voraxial ® and has new innovations under development to enhance its potentially market dominant technology.
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