Nanotechnology Now

Our NanoNews Digest Sponsors


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

Revealing the nature of magnetic interactions in manganese oxide: New technique for probing local magnetic interactions confirms 'superexchange' model that explains how the material gets its long-range magnetic order May 25th, 2016

Gigantic ultrafast spin currents: Scientists from TU Wien (Vienna) are proposing a new method for creating extremely strong spin currents. They are essential for spintronics, a technology that could replace today's electronics May 25th, 2016

Diamonds closer to becoming ideal semiconductors: Researchers find new method for doping single crystals of diamond May 25th, 2016

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Announcements

Revealing the nature of magnetic interactions in manganese oxide: New technique for probing local magnetic interactions confirms 'superexchange' model that explains how the material gets its long-range magnetic order May 25th, 2016

Gigantic ultrafast spin currents: Scientists from TU Wien (Vienna) are proposing a new method for creating extremely strong spin currents. They are essential for spintronics, a technology that could replace today's electronics May 25th, 2016

Diamonds closer to becoming ideal semiconductors: Researchers find new method for doping single crystals of diamond May 25th, 2016

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Patents/IP/Tech Transfer/Licensing

Programmable materials find strength in molecular repetition May 23rd, 2016

Syracuse University chemists add color to chemical reactions: Chemists in the College of Arts and Sciences have come up with an innovative new way to visualize and monitor chemical reactions in real time May 19th, 2016

Researchers integrate diamond/boron nitride crystalline layers for high-power devices May 12th, 2016

New tool allows scientists to visualize 'nanoscale' processes May 4th, 2016

Financial Reports

Nanometrics to Announce First Quarter Financial Results on April 26, 2016 April 5th, 2016

Nanometrics Achieves Record 3D-NAND Bookings Quarter: A Record 3D-NAND Bookings Quarter, both in Aggregate and for Each of Three Key Customers March 28th, 2016

Arrowhead to Webcast Fiscal 2015 Year End Results December 7th, 2015

Haydale Announce Year End Results November 3rd, 2015

Environment

Novel functionalized nanomaterials for CO2 capture May 10th, 2016

First single-enzyme method to produce quantum dots revealed: Biological manufacturing process, pioneered by three Lehigh University engineers, produces equivalent quantum dots to those made chemically--but in a much greener, cheaper way May 9th, 2016

Los Alamos National Laboratory Expands Scope to Locus Technologies SaaS Contract: Los Alamos National Laboratory Adds Two New Applications to Locus SaaS Platform May 7th, 2016

Understanding tiny droplets can make for better weather forecasts: Climate change models also benefit from understanding fundamental thermodynamics of water droplets May 6th, 2016

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







Car Brands
Buy website traffic