N-Viro International Signs Supply Agreement With FirstEnergy (NYSE: FE)
TOLEDO, Ohio, May 26 /PRNewswire-FirstCall/ -- N-Viro International Corporation (OTC Bulletin Board: NVIC) announced today it has entered into a new supply agreement with FirstEnergy Corporation (NYSE: FE) for a portion of the reagent used at its Toledo, Ohio facility currently producing N-Viro Soil™.
Under the terms of this agreement, N-Viro will provide transportation services and receive reagents from FirstEnergy into its Toledo, Ohio facility. N-Viro intends to utilize these reagents to further enhance their N-Viro Soil™ product while further improving the operational efficiencies of their Toledo, Ohio facility. This agreement complements N-Viro's current sources of supply and provides enhanced logistical efficiencies.
CEO and President of N-Viro International, Mr. Timothy R. Kasmoch, had these comments: "We have worked for some time to reach this arrangement with FirstEnergy. The close proximity of their facilities will improve the efficiencies of our transportation subsidiary, Bio Mineral Transportation, and believe it will ultimately improve the profitability of the transportation of our additives. Together with our existing reagent suppliers, we believe we have improved our planning and operational profiles. We are also very pleased to be working with such a high stature, local company as FirstEnergy."
About N-Viro International (www.nviro.com)
N-Viro International is an environmental and materials operating company that owns patented technologies to convert various types of waste into beneficial alternative fuel products. Its renewable biofuel technology, N-Viro Fuel™, has received alternative energy status from the U.S. Environmental Protection Agency, which qualifies the technology for renewable energy incentives. N-Viro operates processing facilities independently as well as in partnership with municipalities.
N-Viro maintains a web site at www.nviro.com, where interested parties can follow the progress of the Company. N-Viro will continue to routinely post press releases on the site and encourages stockholders and interested parties to monitor the site on a regular basis.
Special Cautionary Note Regarding Forward-Looking Statements
The Company cautions that words used in this document such as "expects," "hopes", "anticipates," "believes" and "may," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to differ materially from those described herein. For example, while the Company expects business expansion projects to begin in an estimated time frame, such expectations are subject to adverse economic conditions and other factors outside of the Company's control. Further, the Company's ability to increase capabilities and expand capacity is subject to the ability of the Company or its partners to access sufficient capital to pay for this expansion, which will further depend on, among other factors, market acceptance. The Company's ability to achieve profitability of these projects could be negatively impacted if there is a lack of an adequate supply of waste or expenses increase above the Company's expectations - including fuel and transportation costs, labor costs and costs relating to the treatment and processing of the biosolids and creation of the N-Viro Soil or N-Viro Fuel. In addition, while the Company believes that trends in "greener" energy solutions are moving in favor of the Company's technology, such trends may not continue or may never result in increased sales or profits to the Company because of the availability of competing products and other alternative energy source. All of these factors, and other factors, will affect the profitability of the Company. Additional information about these and other factors that may adversely affect these forward-looking statements are contained in the Company's reports, including its Annual Report on Form 10-K for the year ended December 31, 2009 and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.
For More Information Contact: |
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Timothy Kasmoch, CEO |
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[email protected] (419) 535-6374 |
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SOURCE N-Viro International Corporation
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