WESTMINSTER, Colo., Feb. 27, 2017 (GLOBE NEWSWIRE) -- Vista International Technologies, Inc (OTCBB:VVIT) a pioneer in efficient Waste-to-Energy (WTE) technology, is pleased to give investors an update on recent events in its Waste to Energy (WTE) and tire recycling operations.
Vista’s commercial scale pilot next-generation gasification unit (MFG-8 Thermal Gasifier) has recently completed its independent (third party) testing. The Company is now waiting for the results of this testing, which will be available in the next 3-4 weeks. The Company plans on presenting these results to the states where the Company has projects in development, with the goal of securing permits for these projects. This is a major step forward, as the Company continues to execute its strategic business plan. The Company also conducted its own tests concurrent with those conducted by the third party and found that the unit met or beat the Company’s internal targets for efficiency, emissions, and feedstock variability and moisture content, among other internal measures.
The Company’s tire operations have continued to see strong revenues in the first quarter due to increased disposal (tipping) fees as compared to prior quarters. However, margins are currently lower, as the company has increased its hauling of scrap material to the landfill in order to clear certain areas of the facility as the Company works toward obtaining its permit for scrap tire processing and storage with the TCEQ (Texas Commission on Environmental Quality). This permit would allow the facility to continue operating for the next five years. The Company’s main stumbling block in this permit application process has been its pursuit of a variance from the Dallas County Fire Marshal which would allow the company to keep its storage piles at their current size, versus a significant reduction. So far the Company has been unsuccessful in securing this variance.
Vista International Technologies, Inc. has been producing Waste-to-Energy gasification systems for over twenty years, with installations across three continents. The Company’s technology has low costs of installation and operation, and allows for the processing of virtually any hydrocarbon-based waste product, including municipal solid waste, waste tires, sewage waste, and biomass, among others. The company’s WTE systems are emission friendly and extremely efficient, and can be used to produce heat, steam, and/or electricity.