|By Marketwired .||
|August 22, 2013 09:15 AM EDT||
DENVER, CO -- (Marketwired) -- 08/22/13 -- Vista International Technologies, Inc. (OTCQB: VVIT), a pioneer in efficient Waste-to-Energy technology, is pleased to give investors an update on recent events concerning the Company's Gasification technology, in particular the units currently under construction and the Company's pilot project in the northeastern US.
During the second quarter of 2013 the company recorded gasification revenue for the first time in over five years, as a result of the shipment of project components to the pilot project site. Gasification revenue contributed over 25% of total quarterly revenue in the second quarter, and is expected to contribute an increasing share of total revenue in the second half of 2013 and into future fiscal years.
The Company continues to make considerable progress on the pilot project. All major downstream project components have been purchased and shipped to site, and are ready for final installation. The main gasification unit for the project is currently under construction by the Vista team in Colorado and will be shipped to site upon completion. The project is currently expected to be operational in the 4th Quarter of 2013.
The Company's ultra-portable gasification unit is also still under construction at the Company's Colorado facility. Aside from its ability to showcase the company's technology, this unit also has considerable value in disaster relief. Units like these are designed to be able to be placed near the site of a disaster, and then use the debris from the disaster to produce on-site heat and/or electricity. Having a portable heat/power source at the scene of a disaster will help first responders do their job more effectively, and help ensure the safety of those displaced by the event. Completion of this unit is expected in early 2014.
Vista International Technologies, Inc. has been producing Waste-to-Energy gasification systems for over twenty years, with installations across three continents. The Company's technology has low costs of installation and operation, and allows for the processing of virtually any hydrocarbon-based waste product, including municipal solid waste, waste tires, waste coal, sewage waste, and biomass, among others. The company's Waste-to-Energy systems are emission friendly and extremely efficient, and can be used to produce heat, steam, and/or electricity.
Vista International Technologies, Inc