FARMINGDALE, N.Y., Jan. 13 /PRNewswire-FirstCall/ -- Cemtrex Inc. (OTC: CTEI), an emerging leader in environmental and energy efficiency technologies, today provided a business update and reiterated its expectation that 2010 will be another transformational year as the company forges ahead with plans to become a leading global environmental and energy efficiency systems technology company.
Cemtrex is a rapidly growing company with the following distinct business areas:
(i) Emission Monitors:
Company, through its MIP division, sells emission analyzers to utilities and industrial companies in steel, fertilizer, cement, chemicals and refining fields, to measure particulate, carbon dioxide, sulfur dioxide, mercury, oxygen, hydrocarbons, nitrogen oxides, ammonia, and other pollutant gases discharging the stacks. Company also assembles and sells complete Continuous Emission Monitoring Systems (CEMS) to allow customers to meet EPA and local regulations.
(ii) Energy Efficiency:
In 2009, Company developed an energy efficiency product, Green DCV, for commercial buildings that provides up to 40% energy savings in a client's monthly energy bill by effectively managing its HVAC system through carbon dioxide measurements. To date, over twelve Green DCV systems have been installed and are operating successfully. Company, through its own resources, first developed a prototype and perfected it during extensive in-house testing.
(iii) Carbon Credits:
The Company provides consulting services on a wide variety of projects that create carbon credits globally. Company also markets MCDR technology that creates carbon credits by capturing methane, a greenhouse gas, from coal mines. Company marketed the technology to coal mines around the world and managed to secure a couple orders from South American coal mines. Company is also currently conducting in-house test program to develop its own cost-effective technology to capture carbon dioxide generated from fossil fuel fired power plants.
(iv) Environmental Control Systems:
The Company, through its subsidiary Griffin Filters LLC, provides environmental control systems such as fabric filters and scrubbers used to control particulate and gaseous emission from industrial and utility stacks.
2009 Market Highlights:
- Share price surged from less than one cent to a 52-week high of $0.75 on 06/08/09.
- Company moved its stock from Pink Sheets to OTCBB.
- Currently the Company has 39,722,862 shares outstanding.
- For the fiscal year ended September 30, 2009, the Company had sales of $6,967,992.00 with a net income of $155,010.
FY 2010 will be another transformational year for Cemtrex Inc. During the past fiscal year we have made substantial progress in positioning ourselves for the emerging opportunities in the energy efficiency, mercury monitoring and the global carbon credits business.
We have launched a massive nationwide marketing campaign to promote Green DCV with architects, HVAC contractors and building owners. Green DCV has also been approved for energy rebate by several large utilities nationwide. We expect increased Green DCV sales volume in fiscal 2010 due to greater demand for energy efficiency products nationwide. We also expect to secure additional orders for our MCDR technology in 2010 due to continued growth in the carbon credits business. We expect to secure several large orders for environmental control systems through our subsidiary Griffin Filters as the demand for such systems is on the rise globally.
At Cemtrex, we are passionate about our business model and the results that we can derive from it within the next few years. We strongly believe that the combination of our continued dedicated pursuance of opportunities and the current climate of emphasis on energy efficiency and reduction of greenhouse gases, that holds the potential to drive growth, will help boost our annual revenues in FY 2010.
From a stock market perspective, we continue to create shareholder value, by providing maximum transparency into our operations, relaying our growth story to a greater audience, and establishing a line of communication to institutional investors.
We are working hard to build a profitable company that will be a dominant market leader within the next few years. At this point, we would like to thank our long-term shareholders, who have been with us from "Pink Sheet" days, for their continued interest and reiterate our promise of making 2010 another lucrative year for them.
Cemtrex Inc. is a worldwide emerging market leader in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. and filtration products for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems. Cemtrex provides technologies and services for abatement of greenhouse gases pursuant to the Kyoto Protocol and assists customers in creating and selling carbon credits from such projects. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. Actual financial results could differ materially from those projected in the forward-looking statements as a result of a number of risks, uncertainties, business climate and Company's ability to raise additional capital. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
SOURCE Cemtrex Inc.