EDMOND, Okla., Sept. 1, 2009 (GLOBE NEWSWIRE) -- EnviroXtract, Inc. (Pink Sheets:EVXA) announced today that it has closed on its previously announced purchase of the assets and business operations of EnviroXtract, Inc., ("EXI"). The purchase included $1,600,000 in assets and worldwide licenses for environmental clean-up/mitigation technologies currently owned and developed by EXI.
EnviroXtract, Inc. (EXI) has developed an efficient technology to perform environmental remediation applications for oil spills and other toxic chemical remediation applications which require a complete separation of hazardous or toxic chemicals from contaminated soil. The technology has proven capable of removing virtually 100% of oil from soil ... is extremely energy efficient ... leaves clean, dry tailings with no residual oil ... requires no water, natural gas, fossil fuels, or chemicals during processing ... discharges no pollutants ... and is capable of capturing carbon emissions in a closed vacuum processing system
EnviroXtract will also implement an aggressive schedule of testing its proprietary thermal process for extraction of additional hazardous and toxic materials from soil samples. The Environmental Protection Agency (EPA) maintains a Toxic Release Inventory of 581 individually listed chemicals and 30 chemical categories, which require removal and mitigation under federal regulations. Independent third-party analysis and verification will measure the effectiveness of the EXI thermal process in removing many of these toxic chemicals from soil samples. The results of these tests and subsequent analysis will be updated regularly on the EnviroXtract website, www.EnviroXtract.com. EnviroXtract plans to explore additional environmental remediation applications, which may include mitigation and vitrification of fly ash and coal ash currently produced in huge quantities worldwide from electrical power generation facilities. Mountains of these waste materials are typically laden with toxic metals and chemicals. The EPA is currently tightening restrictions on disposal of these materials in landfills. EXI is currently developing a methodology for permanently encapsulating fly ash and coal ash through a unique vitrification process utilizing another unique thermal technology. A glass or ceramic slag is produced from this process, which is expected to prevent leaching of toxic metals into the soil and environment. There are many commercial uses for the glass slag produced from this process, including utilization as an aggregate for construction and road building.
With the completion of the Asset Purchase, the Company welcomed the following individuals to the management of the Company:
Carlton Wingett, CEO, Director
Mr. Carlton Wingett is a co-founder and CEO of EnviroXtract, Inc. Mr. Wingett is a business professional with over thirty years experience in business and operations management, specializing in technical and project management. He has held senior technical and management positions with some of the world's largest companies, including IBM Global Services, McKesson/HBOC, and First Data Corporation. Mr. Wingett has served on the board of directors of private and publicly traded companies, and has established and operated successful businesses spanning various industries. He attended Evangel University in Springfield, Missouri.
Dennis Atkins, Chief Financial Officer, Director
Dennis Atkins is a Certified Public Accountant with over twenty-five years experience in public accounting with extensive experience in business and personal tax planning and preparation including the use of offshore domiciles for income tax benefit and asset protection, public and private company auditing and business consulting. He has been a member SEC Practice Section and the Public Company Oversight Board. Mr. Atkins has served on the board of directors and as chief financial officer for various private and publicly traded companies. His firm provides management and consulting services for publicly traded companies. He is a member of the American Institute of Certified Public Accountants and holds licenses in Oklahoma and California. Mr. Atkins holds a Bachelors Degree in Accounting from Oklahoma State University and a Masters Degree in Accountancy from the University of Oklahoma
Bill Brown, Director
William (Bill) Brown has worked in the oil and gas exploration industry for over twenty-five years. Mr. Brown has experience as an exploration geologist, exploration manager, business developer, project manager, corporate officer, and business owner. For the past fifteen years, he has operated an energy company that identifies and generates oil and gas-drilling projects, offers geological consulting services, provides project management, and arranges project funding. Currently, Mr. Brown is involved with exploration and production projects in Montana, Nebraska, Colorado, Oklahoma and Texas. Mr. Brown is a member of the Oklahoma City Geological Society, Houston Geological Society, and the American Association of Petroleum Geologists where he serves as Associate Editor for the "AAPG-Bulletin." He holds a degree in geology from Texas Tech University.
Vernon Hunt, Director
Vernon Hunt has over 40 years experience in business development. He has owned and operated several businesses, starting with the family plastering business, branching out to general contracting, real estate brokerage and land development. He developed, built and sold several residential communities in the Chicago area. His interest in new technologies has led to his involvement with several private and public companies as an investor and consultant. He attended College of Lake County and Northern Illinois University.
Additionally, the Company announced that it has filed all of its disclosure documentation with Pink Sheets and now has an upgraded status of "Current Information". The Company will continue to file ongoing disclosure with Pink Sheets to maintain its "Current Information" status and to maintain shareholder transparency.
EnviroXtract, Inc. currently has 458,078,659 fully diluted shares issued and outstanding.
About EnviroXtract, Inc.
EnviroXtract, Inc. has acquired exclusive worldwide licenses for environmental clean-up/mitigation applications. As a technology company, over five years and several millions of dollars have been invested in the development of the Company's base technology. Its unique extraction process excites the oil sands at the molecular level and has proven capable of removing greater than 99.9% of oil from sand and soil. No water is used in processing. No natural gas or any other fossil fuel is necessary to generate thermal activity used in processing. The electrically generated heat is environmentally safe, creating no greenhouse gases. The process operates in a closed vacuum processing system. Soil and sands are clean and dry after processing, ready for immediate reintroduction into the environment.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of EnviroXtract, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.