CYBER ENVIRO-TECH, INC CLOSE TO SIGNING A LETTER OF INTENT WITH A SALT WATER DISPOSAL FACILITY TO CLEAN CONTAMINATED OIL PRODUCTION WASTEWATER
Rhea-AI Summary
Cyber Enviro-Tech, Inc (CETI) is close to finalizing a Letter of Intent with a Salt Water Disposal facility in West Texas to clean contaminated oil production wastewater. The company's biotechnology solution aims to repurpose the water back into the environment, addressing the hazardous pollution caused by hydrocarbons and industrial compounds. The agreement is expected to process 45,000 barrels of brine water monthly, valued at $9 per barrel, benefiting oil operators and communities. CETI's innovative process not only focuses on oil production but also on providing clean water for various applications.
Positive
CETI's potential agreement with the SWD facility in West Texas showcases the company's commitment to environmental sustainability and innovation.
The initiative to repurpose contaminated water into reusable assets for oil operators highlights a significant step towards resource optimization and waste reduction.
The biotechnology solution's ability to produce decontaminated brine for safe reuse in oil production and other applications demonstrates CETI's versatile and eco-friendly approach.
Negative
The ongoing drought conditions in Texas have intensified the need for efficient water resource management, adding pressure to expedite the agreement process with the SWD facility.
While the estimated market value of processing 45,000 barrels of brine water monthly is promising, any delays or complications in finalizing the agreement could impact CETI's revenue projections and operational timelines.
News Market Reaction – CETI
In the trading session that priced this news, CETI gained 7.14%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
During oil production, far more contaminated water is produced than oil. This water is heavily polluted with hydrocarbons and industrial compounds making it hazardous to the environment. Currently, this water is taken out of circulation by being transported to salt water disposal wells and pumped thousands of feet underground. In 2020 alone, the state of
CETI's initial focus in repurposing this water will be to produce decontaminated brine (salt water) which can be safely reused in oil production. In the anticipated definitive agreement, CETI estimates it will process 45,000 barrels of brine water monthly with an approximate market value of
Both companies are looking forward to repurposing and transforming this waste into reusable assets for oil operators and companies. Furthermore, this biotechnology process has the potential, through enhanced filtration, to provide clean water for drinking, agriculture, and various other commercial and residential applications, benefiting communities at large.
"The potential of working with this West Texas SWD marks a new chapter in our bioremediation enterprise as it allows us to showcase our unique total waste solutions. By combining multidisciplinary innovations, we not only demonstrate environmentally sound practices but also the most efficient and economical ones" said Kim D. Southworth, co-founder and CEO of Cyber Enviro-Tech, Inc.
ABOUT CYBER ENVIRO-TECH, INC. CETI is an international, environmentally driven, oil/sludge, water and soil remediation Company. Using bio remedial material and other proprietary equipment and processes, we are able to extract and eliminate many hazardous waste materials found in today's oil, industrial wastewater and soil. CETI has designed safe, cost-effective remediation systems including 4th Industrial Revolution technologies. This would include machine learning, artificial intelligence, the cloud, SCADA, etc., along with the application of our non-chemical, bio remedial material. Our core business model is focused on cleaning oil/sludge ponds, storage tanks, oil spills, mining and other soil remediation projects and all bodies of contaminated industrial wastewater.
FORWARD-LOOKING STATEMENTS
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current and future operations, the development, regulatory approvals and commercialization of the Company's products, or any of the Company's proposed services, systems, services, licensing arrangements, joint ventures, partnerships or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, delays in the Company's development of its products and services, the inability to obtain additional financing, the impact of significant new or changing government regulation on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's general failure to effectively implement the Company's business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
CONTACT:
Winston McKellar,
Dir of IR/PR
Cyber Enviro-Tech, Inc.
6991 E. Camelback Rd., Suite D-300
866.687.6856
Email: info@cyberenviro.tech
www.cyberenviro.tech
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SOURCE Cyber Enviro-Tech