NuEarth Signs $750,000 Agrocultural Modeling Contract With Laboratorio Internazionale Agricoltura, S/p/A
PITTSBURGH, Nov. 29, 2010 /PRNewswire-FirstCall/ -- NuEarth Corporation (Pink Sheets: NUEC) ("NuEarth"), a manufacturer and marketer of "Clean & Green" products and technology, today announced that the company's Laboratory and Research Division "TerraSolv SA" has received final approval for another long term contract representing an additional $750,000 laboratory service contract with the Laboratorio Internazionale Agricoltura, S/p/A ("LIA") of Italy.
The continuation of our JV Agreement with Laboratorio Internazionale Agricoltura, S/p/A ("LIA") of Italy brings another new laboratory project to TerraSolv. This project is valued currently at more than $750,000 over the three-month work schedule starting in January 2011. However, the contract has provisions that could triple the final contract value to more than $2 million USD over the 12 month life cycle of the contract. "Our state-of-the-art environmental and agricultural modeling programs were critical in the establishment of this long-term relationship; as they provide our clients with real-world data in a real-world setting. We've seen incredible value from the lab. We're taking more risk out of the system, putting more structure into it, suffering less downtime and delivering higher-quality services," said Levi Modelevi - CEO of NuEarth Corporation, the parent of TerraSolv SA. The TerraSolv SA Laboratory has generated more than $33.2 million over its 3-year existence -- mostly due to the joint venture with Laboratorio Internazionale Agricoltura, S/p/A.
The joint venture will continue to utilize the TerraSolv SA state-of-the-art development and testing lab currently being relocated to the United States of America. This data center collects data from clients around the world to run projects ranging from usability, capacity, spread and weather modeling and performance testing. The heart of the laboratory is a 325-gigabyte database of environmental and agricultural project records running on six HP servers and two Novell servers storing the data and running the software being tested.
NuEarth is a company dedicated to bringing to market "Clean Solutions to Complex Problems" by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about NuEarth and its product offerings visit us on the web at www.nuearthcorp.com.
This press release contains forward-looking statements regarding NuEarth within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting NuEarth. Forward-looking statements speak only as of the date on which they are made and NuEarth undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.
Investor relation contact: |
|
c/o: Alfon Rosalini |
|
866-311-6373 |
|
Alfon.rosalini@nuearthcorp.com |
|
SOURCE NuEarth Corporation
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article