DENVER, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Vista International Technologies, Inc. (OTCBB:VVIT), a pioneer in efficient Waste-to-Energy technology, is pleased to give investors an update on a transaction involving land owned by the company.
The Company currently owns two adjacent land parcels in Hutchins, Texas. One is an 18-acre parcel which houses the company’s tire processing and storage operations. The other is a 9-acre parcel which is currently vacant land. In a further effort to improve the company’s financial condition, Vista has signed a contract to sell the 9-acre parcel for $825,000. While a majority of the net proceeds from the transaction will be used to pay down debt on the company’s balance sheet, management believes that there will still be significant funds available to put toward development of other gasification projects in the Company’s pipeline. The transaction is expected to close in approximately 60 days.
Vista International Technologies, Inc. has been producing Waste-to-Energy gasification systems for over twenty-five 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, waste coal, sewage waste, and biomass, among others. The company’s Waste-to-Energy systems are emission friendly and extremely efficient, and can be used to produce heat, steam, and/or electricity.