PLEASANTON, Calif., Feb. 10, 2015 (GLOBE NEWSWIRE) -- Reterro, Inc., an emerging green remediation leader in eliminating hydrocarbon contamination from soil and ongoing waste streams, today issued its business review for 2014 and business outlook as it begins 2015.
Reterro Chief Executive Officer Ferdinand Seemann issued the annual overview in the following letter to the company's customers, partners and shareholders:
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To Our Customers, Partners and Shareholders,
As we embark upon our second full year of business growth and technology innovation, we offer our sincere appreciation to all of our customers, partners and shareholders for your support of Reterro. We would also like to extend thanks to the public representatives and residents of the communities that are home to the sites we clean. Our recently concluded year was punctuated by warm welcomes of local governments, dedicated efficiencies of permitting agencies and continual expressions of thanks from neighbors. The entire Reterro team is extremely grateful for your help in ensuring an extraordinary year of growth and achievement in 2014. And we expect even more in 2015.
It is hard to point to Reterro's greatest milestone of 2014. It may be the clean-up, to non-detect levels, of a RCRA CVOC-contaminated site in the Los Angeles Basin. It could be the start of the long-sought cleanup at the Port of Los Angeles. Perhaps it's the initiation of Reterro's inaugural project in the Texas-Oklahoma energy corridor. Or maybe it's the continuing success of ongoing engagements on behalf of three Fortune 500 companies and global enterprise leaders.
Then again, it may be something else entirely. It may be a cultural change inspired by this young company's approach to cleaning earth. It is what we call The Reterro Principle™. And we believe that The Reterro Principle™ represents a new industry standard in the culture, values and standards-based performance of earth cleaning.
Whether it is at the coast of the Pacific Ocean at one of the nation's largest ports or at two former compressor stations in the heart of the Oil & Gas industry in Texas, The Reterro Principle™ is becoming the new standard in remediation best practices. Our small on-site footprint and guaranteed process delivers immediate certainty in safe soil and waste-stream remediation. It is the most rapid, cost-effective, clean and compliant method to remove hydro-carbon waste from soil and waste streams, prevent ongoing contamination and unlock the greatest value in previously unusable locations. Contaminated sites can often be cleaned to soil matrix and soil vapor non-detect levels, enabling the owners or communities to use the site for residential, industrial or park use. The Reterro Principle™ thus unlocks the value of these sites – for the owners and for the community.
The Reterro Principle™ is a green remediation culture that is being adopted throughout the United States – and, soon, beyond. The Reterro Principle™ removes hydro-carbon waste from soil within hours -- and attains the designated clean-up level with 100% environmental certainty and an unblemished safety record. This eliminates the need for millions of miles of hauling contaminated soil across jurisdictions – as well as the vehicular emissions, traffic accidents and other health and safety problems that come with it.
And in 2015, Reterro is poised to bring the prospect of remediation to thousands of urban, populated and space-constrained environments in which health and safety restrictions prohibit any other competing technologies. But before we get to 2015, let's take one more look at the milestones Reterro achieved in 2014.
Reterro's 2014 business highlights include:
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Expanding Reterro's proven track record of cleaning PCE, TCE, CVOC, Gasoline, Diesel, TPH contaminated sites to guaranteed levels in hours per batch.
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Extending Reterro's successful operations to some of the most stringent permitting jurisdictions in the United States
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Quarterly business performance that featured substantial sequential growth in revenue and volume of soil processed in each quarter of the year.
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Recording growth of 3x in the company's staffing levels and 6x in the size of its mobile remediation fleet and 10x in revenue
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Clean-up, to residential/industrial use levels, of a 45-acre CVOC-contaminated RCRA site of a Fortune 200 customer
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Initiation of a significant project at the Port of Los Angeles, representing Reterro's third Fortune 200 customer in 18 months.
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The year-end approval to begin work at a hydro-carbon soil remediation project at two former compressor stations in Texas. The project marked Reterro's inaugural remediation in the Central U.S. Oil & Gas Corridor. A major oil services company selected Reterro to remove hydro-carbon contamination from the ground of the two sites, which it co-owns with one of the world's largest oil companies. Earlier in 2014, Reterro formed a dedicated practice in the United States to address the expanding requirements of the oil- and gas-industry in the Texas-Oklahoma energy corridor.
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The expansion of Reterro's pilot scale system for on-site testing and analysis. The IP-protected pilot unit is a finite element scaled technology system that enables on-site soil and waste streams testing using Reterro's proprietary cleaning and remediation methodology. The pilot unit provides site-specific performance data for use in project design and feasibility studies.
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The confirmation of an initial assessment by leading US sustainability consultancies, institutions and government agencies that has shown Reterro's sustainability advantages by a factor of 10-20 versus traditional hydro-carbon remediation measures.
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The appointment of a number of high-level additions to the Reterro team, including Martin Gardner as Chief Financial Officer and Karen Reinhardt as Vice President, Strategic Marketing.
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The completion of a substantial equity investment and expanded credit facilities, significantly adding to the company's financial strength.
- The holding of the company's second annual shareholder meeting, resulting in approval of strengthened corporate bylaws and the implementation of an ERP and CRM to accommodate expected future growth.
Reterro's 2015 business initiatives include:
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Building on its growing U.S. engagements on the West Coast, in the Texas-Oklahoma energy corridor and elsewhere, Reterro is expanding its geographic presence in 2015 -- from four to seven U.S. locations in which it has offices and representation. The company also intends to initiate expansion outside the U.S.
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Reterro is intensifying its Research & Development in 2015 in areas ranging from the enhancement of clean-up capabilities to the development of new tool sets for consultancies and regulators.
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The company is maintaining ongoing focus on organic growth and corporate finance to ensure continually increasing financial strength as its business continues to expand.
- As Reterro faces increasing national and international demand to clean contaminated waste streams and properties, the company is expanding its relationships with permitting and sustainability consultancies, agencies and government institutions.
Again, all of us at Reterro are greatly appreciative of the tremendous reception we received in our recently concluded first full year in operation. And we are confident that 2015 will be an even greater year – for our company, its supporters and the communities that we are so proud to serve.
Sincerely,
Ferdinand Seemann
Chief Executive Officer
About Reterro
Reterro, Inc., provides the foremost compliant and curative green remediation solution for tens of thousands of locations worldwide that are government-mandated to clean ongoing hydrocarbon waste streams and undergo soil remediation for existing hydrocarbon contaminated waste. Uniquely effective in urban, populated and space-constrained environments in which health and safety restrictions prohibit any other competing technologies, Reterro is unrivaled in mobility, cost-effectiveness and speed-to-completion, with a record of 100% certainty of efficacy.
For more information, please visit www.reterro.com.