FORT LAUDERDALE, Fla., Oct. 26, 2011 /PRNewswire/ -- Enviro Voraxial Technology, Inc. (OTCBB: EVTN) announced today that it has received a multi-unit purchase order to install four (4) Voraxial® 2000 Separators at the oil production facilities of one of the world's largest oil and gas production and exploration companies. The Voraxial® Separators, which were recently shipped, will be installed for bulk oil/water/solid separation. This application for the Voraxial® represents a large global market requiring bulk oil, water and solid separation as a critical part of the oil production process. EVTN's patented Voraxial® technology provides the oil producers with a more compact and effective solution which increases efficiencies and decreases cost for the oil companies.
This customer processes millions of gallons of produced water per day and is a world leader in applying advanced technology to boost production from mature oil and natural gas fields and access hard-to-reach reserves. It is a high priority for most oil companies to consistently replace and expand reserves through improved recovery. EVTN's advanced Voraxial® separation technology can assist the oil companies in meeting these objectives.
The water that is extracted from the ground with the oil is called produced water. Produced water comprises over 98% of the total waste volume generated by the oil and gas industry, making it the largest volume waste stream associated with oil and gas production. Oil reservoirs frequently contain large volumes of water and as oil wells mature, the amount of oil produced from the well decreases while the amount of water needed to be treated increases. In the continental United States, it is estimated that more than 10 barrels of water are produced for each barrel of recovered oil. The efficient separation of oil from produced water and the environmentally responsible treatment of the remaining water are critical processes in the production of oil. EVTN's Voraxial® Separator offers the industry an economical solution to treat this increasing volume of produced water.
"We are proud of our growing relationships with major oil exploration and production companies. This shipment represents another significant installation this year with yet another major customer," stated John A. DiBella, COO of EVTN. "We are achieving our goals this year regarding record sales and profits and are on target for a similar growth in 2012."
Due to contractual agreements, often required by major corporations, the customer name is withheld.
About Enviro Voraxial Technology: EVTN is the developer and manufacturer of the Voraxial® Separator, a unique, patented in-line turbo-separator that provides a cost effective method to efficiently separate large volumes of solids and liquids with different specific gravities and without the need of a pressure drop. The Voraxial® provides highly efficient bulk separation while requiring less space, energy and weight than conventional separators processing the same volume. The Voraxial® is capable of simultaneously separating up to three components, such as oil, water and sand. The Voraxial® can be used as a stand-alone separator or incorporated with other equipment to provide a complete turnkey solution that allows customers to treat a variety of fluid streams while reducing treatment cost and increasing separation efficiency.
The separation market encompasses a series of multibillion dollar segments, spread globally across many industries and applications. EVTN continues to pursue the oil and gas industry but is also processing proposals from other industries such as mining, food processing, manufacturing and oil spill industries. EVTN owns significant IP surrounding the Voraxial® and has new innovations under development. Please see www.evtn.com for additional information.
Safe Harbor Disclosure -- This Press Release contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of Enviro Voraxial Technology, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Enviro Voraxial Technology, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Enviro Voraxial Technology, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Enviro Voraxial and its subsidiaries to differ materially from those indicated by such forward-looking statements.
SOURCE Enviro Voraxial Technology, Inc.