RDX Granted Transportation Fuel Blending License
Accounting System Changes
SCOTTSDALE, AZ and CALGARY, AB, Jan. 8, 2015 /PRNewswire/ - RDX Technologies Corporation ("RDX" or the "Company") (TSXV: RDX,OTCQX: RGDEF, FSE: RL7), a water treatment and energy technology company, today announces several material events.
The Company had tentatively scheduled a conference call for today, January 8, 2015, but with the execution of the RDX Europe agreement and other events, the Company has decided to confirm an update call for the second week of next month where annual financial guidance and recent events can be discussed more openly. A confirmation and dial in number will be released in advance of the conference call.
The Company is pleased to announce that it has entered an agreement with Astoria Capital, S.A. ("ACL") of Wroclaw, Poland for the launch of RDX Europe Sp. z o.o. ACL's website and contact info can be found at: www.astoriacapital.pl. Details of the new entity will be released over the next several weeks. The entity will be based in Poland with plans to list the company on the Warsaw Stock Exchange.
RDX has also been granted a fuel blenders license at its Missouri facility. This will now allow the Company to blend finished transportation fuels for distribution. The Company now plans to file for blending licenses immediately in in Virginia and Florida.
The Company also announced today that it is converting fully to GP Dynamics accounting software which will allow for integration of website and customer ordering.
Dennis M. Danzik, Chief Executive Officer of RDX, stated, "This is a strong start to 2015 during a very challenging time in the energy industry. The collapse of oil prices are being felt everywhere. As predicted in our earlier plans, the elimination of tax credits for biodiesel and lower oil prices will help grow RDX over time against competitors that have relied on subsidies for profits and have kept waste material prices elevated for several years. We now see material prices plummeting and with no future tax credits, our competitors face a very difficult future. The RDX business plan is long term and should greatly benefit from the market environment returning to normal after years of subsidies creating a token economy."
"Our efforts in Europe are now starting to payoff through these initial agreements and a comprehensive plan for our launch into the lucrative European energy and water market. I am very pleased with our working partners in Poland and our opportunities in Europe going forward.
"In addition, our staff is working hard to fully integrate GP Dynamics before our fiscal year end. This will allow RDX to grow in transportation fuels and allow our customers to enact trades via our intranet without the need for RDX adding staff."
Mr. Danzik concluded, "I am also pleased to announce our first blender's license that will grant RDX the ability to blend various qualities of diesel fuel and renewable fuel for delivery to a much broader base of customers. These efforts will continue to grow our opportunity to build recurring revenue."
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
[email protected]
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SOURCE RDX Technologies Corporation
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