FORT LAUDERDALE, Fla., Nov. 10, 2010 /PRNewswire/ -- Enviro Voraxial Technology, Inc. (OTCBB: EVTN) announced today that the Company reached an agreement to lease a 1500 barrel per day Voraxial® 2000 produced water skid mounted processing system to an oil service company. The Voraxial® will be used to separate oil from the water "produced" during the oil production process.
Research reports estimate the volume of water extracted during oil and gas production is approximately 233 billion barrels per year. The annual cost of separating the water and other contaminants from each barrel of oil and gas produced represents a multi-billion dollar, global market. This separation process is critical to oil and gas producer's ability to control production costs and comply with environmental mandates.
Many of the older offshore platforms and production facilities do not have the space to install additional equipment to treat the increasing volume of wastewater generated. This is the void in the market that EVTN anticipates filling with its Voraxial ® Separator. The Voraxial ® Separator is a high volume, small footprint separation device that efficiently separates contaminants, such as oil and solids, from water without a pressure drop requirement. The Voraxial ® reduces the amount of energy, space and weight to treat large volumes of wastewater resulting in a cost savings, both acquisition cost and long-term operational cost, for the customer.
Earlier this year, EVTN was invited to present a paper at the 20th Annual Produced Water Society Seminar in Houston documenting the performance of the Voraxial® 4000. Along with EVTN, other selected presenters included: Chevron, the EPA, Saudi Aramco, Argon National Labs and two universities. Management believes that this prestigious recognition of EVTN's Voraxial® separation technology by the oil and gas production industry is resulting in current and future opportunities for EVTN."We are experiencing a growing demand for the Voraxial® Separators. This demand is now translating into a greater number of deployments, in a variety of important industries. This is a trend that we believe will continue going forward into 2011," says John A. Di Bella, COO of EVTN. About Enviro Voraxial Technology: EVTN is the developer and manufacturer of the Voraxial® Separator, an efficient, high volume, low energy and compact bulk fluid and fluid/solid separation technology. The separation market encompasses a series of multibillion dollar segments, spread globally across many industries and applications. The Voraxial® configuration is a unique, patented, in-line, continuous processing separator, that is capable of pumping and simultaneously separating up to three components, such as oil, water and sand. Voraxial® bulk separation, for a given volume, is achieved at a small fraction of the weight, size, energy requirement, maintenance and cost of conventional separators. The Voraxial® is scalable to handle very large volume requirements and slurries with high solid content. The Voraxial® can be used as a stand alone or incorporated with other equipment to provide a complete solution to the customer. EVTN owns significant IP surrounding the Voraxial® and has new innovations under development. Please see www.evtn.com for additional information. Safe Harbor Disclosure -- This Press Release contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of Enviro Voraxial Technology, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Enviro Voraxial Technology, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Enviro Voraxial Technology, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Enviro Voraxial and its subsidiaries to differ materially from those indicated by such forward-looking statements. SOURCE Enviro Voraxial Technology, Inc.