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SRPX Scorpex Inc (CE)

0.000001
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Scorpex Inc (CE) USOTC:SRPX OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000001 0.00 01:00:00

Scorpex Increases Equipment Contract to 90 Million Dollars

09/12/2011 9:00pm

Business Wire


Scorpex (CE) (USOTC:SRPX)
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Scorpex, Inc. (Pinksheets: SRPX) (the "Company"), an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region, has tripled its equipment contract which is now valued at $90 million dollars with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment and licenses. The Company is anticipating a hazardous and toxic waste supply that will exceed the capacity of their pre-existing contract with IET. Scorpex has been in contact with several regional transportation companies and corporations interested in using its initial site. The IET equipment allows for expansion by the use of additional pods connected to the main oxidation unit so the Company can expand its equipment capacity as its waste supply increases.

IET's patented technology is capable of processing municipal waste, medical waste and hazardous waste simultaneously without presorting for maximum efficiency. The oxygen starved system virtually eliminates noise and noxious odors when operating while reducing waste volume by 95%. The design of the system also reduces breeding sites for scavengers, rodents, insects and disease that are sometimes found in other processes.

Chief Executive Officer Joseph Caywood stated, “I have been approached by several companies that want to enter into supply contracts with Scorpex. Without expanding our capacity to take their waste, these contracts will not benefit the Company and its shareholders. We believe that expanding this IET equipment is the quickest and most efficient way to be able to commit to larger streams of waste.”

About Scorpex, Inc.

Scorpex, Inc. is taking the necessary steps to own and operate a full service waste disposal and recycling company, capable of storing and disposing all types of waste, including those classified as industrial, toxic, and hazardous. The location chosen for the first Scorpex plant is strategically positioned to accommodate the vast region of Baja California, Mexico.

For more information, visit www.scorpex.com

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.

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