TOLEDO, Ohio, June 2 /PRNewswire-FirstCall/ -- N-Viro International Corporation (OTC Bulletin Board: NVIC), an environmental technology company that markets an alternative fuel manufacturing technology and agricultural products, announced it has received a five year extension on its agreement with the City of Altamonte Springs, Florida. Altamonte Springs has been a valued long-term customer of the Company's wholly owned subsidiary, Florida N-Viro, for over 10 years.
Altamonte Springs has historically represented about 10% of the revenue generated from the Company's Volusia County, Florida location. This five year extension ensures that Florida N-Viro will continue to process all of Altamonte Springs' biosolids into a Class AA beneficial reuse product. This contract extension represents approximately $1.8 million of revenue over the next five years.
CEO and President of N-Viro International, Mr. Timothy R. Kasmoch, had these comments; "It is an honor to continue serving Altamonte Springs as their sole-source biosolids solution for the next five years. As we continue to receive this type of support from our municipal customers, coupled with the value of the N-Viro processes and the Company's ability to provide long-term sustainable services to those customers, it further strengthens our business model. Our goal is to be the most cost-effective industry solution while continuing to provide the highest level of service to all of our customers. The extension with Altamonte Springs is a welcomed endorsement of this commitment."
About N-Viro International (www.nviro.com)
N-Viro International is an environmental and materials operating company that owns patented technologies to convert various types of waste into beneficial alternative fuel products, including the renewable biofuel N-Viro Fuel™ and the N-Viro Soil™. Its renewable biofuel technology, N-Viro Fuel™, has received alternative energy status from the U.S. Environmental Protection Agency, which qualifies the technology for renewable energy incentives. N-Viro International operates processing facilities independently as well as in partnership with municipalities.
N-Viro maintains a web site at www.nviro.com, where interested parties can follow the progress of the Company. N-Viro will continue to routinely post press releases on the site and encourages stockholders and interested parties to monitor the site on a regular basis.
Special Cautionary Note Regarding Forward-Looking Statements
The Company cautions that words used in this document such as "expects," "anticipates," "believes" and "may," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to differ materially from those described herein. For example, while the Company expects business expansion projects to begin in an estimated time frame, such expectations are subject to adverse economic conditions and other factors outside of the Company's control. Further, the Company's ability to increase capabilities and expand capacity is subject to the ability of the Company or its partners to access sufficient capital to pay for this expansion, which will further depend on, among other factors, market acceptance. Our ability to achieve profitability of these projects could be negatively impacted if there is a lack of an adequate supply of waste or expenses increase above the Company's expectations - including fuel and transportation costs, labor costs and costs relating to the treatment and processing of the biosolids and creation of the N-Viro Soil or N-Viro Fuel. In addition, while the Company believes that trends in "greener" energy solutions are moving in favor of the Company's technology, such trends may not continue or may never result in increased sales or profits to the Company because of the availability of competing products and other alternative energy source. All of these factors, and other factors, will affect the profitability of the Company. Additional information about these and other factors that may adversely affect these forward-looking statements are contained in the Company's reports, including its Annual Report on Form 10-K for the year ended December 31, 2009 and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.
For More Information Contact:
Timothy Kasmoch, CEO
firstname.lastname@example.org (419) 535-6374
SOURCE N-Viro International Corporation