Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > VeruTEK Technologies Announces 2nd Quarter 2008

Abstract:
VeruTEK Technologies Inc. (OTCBB:VTKT), an international environmental technologies company, announced today its financial results for the period ending June 30, 2008 (see www.verutek.com for Form 10-Q). For the period ending June 30, 2008, revenues were approximately $264,000 and the net loss was approximately $169,000. The Company had $5.4 million in cash on hand at the end of the period.

VeruTEK Technologies Announces 2nd Quarter 2008

BLOOMFIELD, CT | Posted on August 25th, 2008

The second quarter of 2008 was pivotal for the Company. The Company raised approximately $5.8 million from a private placement offering (net of transaction related expenses of approximately $0.5 million), which the Company expects to use to broaden market awareness and drive further adoption of its green chemistry solutions

VeruTEK has developed soil remediation technologies that enable a controlled dissolution and desorption process, eliminating the need for costly excavation. The company implements site specific remedies with designer surfactant/oxidant combinations that are environmentally safe and non-intrusive to the nearby community.

During the second quarter VeruTEK began implementing four such field projects, including remediation of subsurface coal tar at former two manufactured gas plant sites; oils at a paper company; and chlorinated solvents, and legacy MTBE from gasoline and other petroleum products from historical spills from underground tanks.

VeruTEK currently has contracts for engineering optimization studies in its laboratories for remediation of creosote for a large Superfund site in Louisiana, a landfill in the northeast, industrial surfactant sites in the Midwest, several manufactured gas plant sites, and other projects in the United States and Europe.

Subsequent to June 30, 2008, VeruTEK and FMC (www.fmc.com) signed a Cooperative Agreement for the distribution of VeruTEK solutions. Also, VeruTEK began its fifth field implementation project marking the entry into a fourth state (Florida).

In July, VeruTEK sponsored a one-day conference, Smart Environmental Remediation Technologies- Green, Sustainable, In Place and Effective, The Future is Now, which included over 200 participants from industry, government and academia (including 20 participants from Fortune 500 companies). The company expects to host its second conference, Smart Environmental Remediation Technologies II - Reducing Financial Reserves By Using New Technologies to Accelerate Cleanup, on November 12, 2008 at the Grand Hyatt in New York City.

John Collins, the CEO of VeruTEK stated, "We continue to make progress toward our goal of becoming the leader of green, sustainable and effective remedies to environmental problems. We expect the third and fourth quarters (2008) to show continued evidence of our progress."

####

About VeruTEK Technologies Inc.
VeruTEK (OTCBB:VTKT) provides proprietary, patent-pending, green nanotechnology solutions for cleaning up the environment.

Safe Harbor Statement

This release may be deemed to contain forward-looking statements that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about the industry and markets in which VeruTEK operates. The statements contained in this release are not guarantees of future performance, are inherently uncertain, involve certain risks, uncertainties, and assumptions that are difficult to predict, and do not give effect to the potential impact of any mergers, acquisitions, divestitures, or business combinations that may be announced or closed after the date hereof. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing VeruTEK's expectations or beliefs as of any future date. We do not undertake any obligation to update forward-looking statements made by us. Important factors that may affect future operating results include: VeruTEK's substantial indebtedness, VeruTEK's limited operating history, VeruTEK's historically variable operating results, dependence on a limited number of customers, VeruTEK's dependence on a single supplier, volatile capital spending in the environmental remediation industry, and other risk factors described in our most recent filings with the Securities and Exchange Commission. Our results of operations for the periods presented in this release are not necessarily indicative of our operating results for any future periods.

For more information, please click here

Contacts:
VeruTEK Technologies Inc.
Shaaron Syrene
860-242-9800 x304

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

French Institutes IRT Nanoelec and CMP Team up to Offer World’s First Service for Post-process 3D Technologies on Multi-Project-Wafer March 5th, 2015

The George Washington University Opens Science and Engineering Hall, Largest Building of Its Kind in D.C.: Building Represents Significant Investment in Research Programs and Facilities; Commitment to Solve Global Problems, Improve Lives of Millions March 5th, 2015

Anousheh Ansari Wins the National Space Society's Space Pioneer Award for "Service to the Space Community" March 5th, 2015

Enhanced Graphene Components for Next Generation Racing Yacht March 5th, 2015

Announcements

The George Washington University Opens Science and Engineering Hall, Largest Building of Its Kind in D.C.: Building Represents Significant Investment in Research Programs and Facilities; Commitment to Solve Global Problems, Improve Lives of Millions March 5th, 2015

Anousheh Ansari Wins the National Space Society's Space Pioneer Award for "Service to the Space Community" March 5th, 2015

Enhanced Graphene Components for Next Generation Racing Yacht March 5th, 2015

Get ready for NanoDays! March 5th, 2015

Patents/IP/Tech Transfer/Licensing

Patent for the Novel Cancer Therapies – Ceramide Nanoliposomes March 4th, 2015

onic Present breakthrough in CMOS-based Transceivers for mm-Wave Radar Systems March 1st, 2015

New Paper-like Material Could Boost Electric Vehicle Batteries: Researchers create silicon nanofibers 100 times thinner than human hair for potential applications in batteries for electric cars and personal electronics February 20th, 2015

Nanotech Discoveries Move from Lab to Marketplace with Lintec Deal: Licensing Partnership Brings Together University Technology, New Richardson-Based Facility Directed by Alumni February 9th, 2015

Financial Reports

Aspen Aerogels, Inc. Schedules Fourth Quarter and Fiscal 2014 Earnings Release and Conference Call for February 26, 2015 February 11th, 2015

Arrowhead to Report Fiscal 2015 First Quarter Financial Results February 2nd, 2015

Graphenea sales more than double in 2014 January 29th, 2015

Nanometrics to Announce Fourth Quarter and Full Year Financial Results on February 2, 2015 January 7th, 2015

Environment

Nanosorbents Increase Extraction, Recycling of Silver from Aqueous Solutions March 4th, 2015

Pens filled with high-tech inks for do-it-yourself sensors March 3rd, 2015

Heightened Efficiency in Purification of Wastewater Using Nanomembranes March 3rd, 2015

Colon + septic tank = unique, at times stinky, study: Researchers use lab-scale human colon and septic tank to study impact of copper nanoparticles on the environment March 2nd, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE