SEER’S MV TECHNOLOGIES RECEIVES MORE THAN $1.6MM OF BIOGAS SYSTEM CONTRACTS FOR THREE NORTH AMERICAN RENEWABLE NATURAL GAS PROJECTS

Rhea-AI Summary

Strategic Environmental & Energy Resources, Inc. (OTCQB: SENR) has secured multiple purchase orders for its proprietary H₂S removal systems, totaling over $1.65 million, to be used in three renewable natural gas (RNG) projects in the US and Canada. The first contract, valued at approximately $500,000, is part of a large dairy RNG project in Iowa. Additional contracts include a $700,000 deal with a Canadian agency and a $450,000 order for a Midwestern US dairy. SEER's technology is positioned for growth, benefitting from new tax credits for the biogas industry.

Positive

• Secured over $1.65 million in purchase orders for H2S removal systems.
• First contract valued at approximately $500,000 for a dairy RNG project in Iowa.
• Anticipated annual media replacement revenue of approximately $250,000 from a Canadian project.
• Total installed systems exceeds 100, demonstrating proven technology efficacy.
• Positioned for growth in the biogas sector enhanced by new tax credits.

Negative

• None.

MV Technologies contracts to design and install its H₂S removal systems for three new biogas/RNG system in the US and Canada.

BROOMFIELD, CO, April 21, 2021 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has recently received multiple purchase orders for the design and installation of its proprietary H₂S removal systems as part of three large renewable natural gas (“RNG”) projects in the US and Canada.

The first contract is for a large dairy, methane-to-RNG project in Iowa. The value of this initial PO is approximately $500,000. The biogas flow from three dairies will be combined at a single point prior to the removal of H₂S utilizing MV’s H2SPlus^™ System, which will use SEER’s proprietary bioactive media (BAM^™) produced by SEER’s, SEER Environmental Media (SEM) division, in Texas.

This project is a strategic addition to the numerous agricultural biogas projects already in MV Technologies’ portfolio. “MV has multiple systems currently installed and operating at some of the nation’s largest agricultural biogas projects, specifically, installations at dairies throughout the US, so we are confident we will contribute to the success of this impressive venture on both a state and national level,” said Tom Jones, President of MV.

While dairy-based RNG projects vary in size, scope and function, most rely on a closed-loop system that continuously recycles products, byproducts and resources on the farm for cost savings and efficiency. Ultimately, the operations process manure from their own livestock through digesters that create methane as a form of renewable natural gas. For most large dairy operations, the value of creating and selling renewable natural gas like methane is much more significant than trying to create electricity. “Since all of these new operations across the country must condition the raw biogas, this trend bodes well for MV and its proven H₂S removal technology and medias,” said Jones.

MV also recently received a purchase order for its technology design and supply of equipment from a Canadian inter-governmental agency which operates an anaerobic digester (“AD”) as an organic waste management and recovery solution in Canada. The biogas created from this project is used as boiler fuel to maintain heat in the AD. Excess biogas will be sold to an adjacent ethanol plant. This is the second system that MV has supplied to this Canadian inter-governmental agency. Both installations utilize MV’s SulfAx Systems, which incorporates Axens’ AxTrap iron oxide granular media to remove the H₂S from the biogas.

The total system design and equipment supply costs for this PO is approximately $700,000 and, depending on many variables and factors in operating parameters, the media replacement revenue for MV is expected to be approximately $250,000 annually.

Finally, a third purchase order has been recently received for MV to supply an H2SPlus System at a dairy in the Midwestern US. The value of the PO is approximately $450,000. It is estimated the system will use about $150,000 of MV’s BAM on an annual basis.

The recent purchase orders and installations bring MV’s total installed nationwide base of operating systems to over 100 and confirm the efficacy and efficiency of the Company’s proven technology. “We are extremely proud to have been selected as the H₂S removal technology for these three projects which reduce carbon footprint, create renewable energy and have an overall extremely positive impact on our environment,” said SEER CEO, John Combs. “With its many effective and successful installations of its MV technology solutions throughout North America, SEER is now well established as a growing ESG portfolio company in a rapidly growing sector. MV now has an outstanding bid total approaching $50MM and approximately $3MM of current equipment supply contracts. This increase in purchase orders and outstanding bid requests early in 2021 highlights both the success of the technology and the robust market,” said Combs. He added, “While bid-to-contract conversion is uncertain, we are confident the industry and, in turn, MV are positioned for growth this year. During 2020 the biogas industry was provided a new pair of tax credits to drive project development and, with the passage of this legislation, biogas now has ‘parity’ with several other renewable energy technologies. This too should bolster the already growing market.”

“In addition to focusing on increasing our annual revenue for MV this year, the Company is also aggressively pursuing international opportunities for its patented Paragon technology. Having formed SEER Corp. International (“SCI”), we are working with our Europe-based partners to roll out Paragon in Europe and evaluating potential projects in the Pacific rim region. There are multiple parties and many moving pieces involved in setting up any new technology like Paragon in foreign markets. Financial aspects, as well as local and national regulatory and governmental mandates in any particular country must first be assessed and addressed. With that said, in the wake of the international Covid outbreak, there appears to be a heightened awareness of properly handling medical waste and the industry appears to be seeking an alternative to traditional incineration and there is no doubt Paragon is cleaner, safer and more economical than the best incinerator. We are exploring various funding options and plan to kick off Paragon’s rollout on the west coast in Q3,” concluded Combs.

About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), identifies, secures, and commercializes patented and proprietary environmental clean technologies in several multibillion dollar sectors (including oil & gas, renewable fuels, and all types of waste management, both solid and gaseous) for the purpose of either destroying/minimizing hazardous waste streams more safely and at lower cost than any competitive alternative, and/or processing the waste for use as a renewable fuel for the benefit of the customers and the environment. SEER has three wholly-owned operating subsidiaries: REGS, LLC; MV Technologies, LLC and SEER Environmental Materials, LLC; and three majority-owned subsidiaries: Paragon Waste Solutions, LLC; PelleChar, LLC and ReaCH4biogas, LLC. For more information about the Company visit: www.seer-corp.com.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates," and other terms with similar meaning. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. Statements in this press release regarding future performance or fiscal projections, the cost effectiveness, impact and ability of the Company's products to handle the future needs of customers are forward-looking statements. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.

Contact Information:
ir@seer-corp.com

FAQ

What recent contracts has SENR secured?

SENR has secured multiple contracts totaling over $1.65 million for H2S removal systems used in renewable natural gas projects in the US and Canada.

What is the value of the first contract for the Iowa dairy project?

The first contract for the Iowa dairy renewable natural gas project is valued at approximately $500,000.

How much annual revenue is expected from the Canadian project?

The Canadian project is expected to generate approximately $250,000 annually from media replacement.

How many systems does SENR currently have installed?

SENR currently has over 100 installed systems across the nation.

How has recent legislation impacted SENR's business?

New tax credits for the biogas industry are expected to bolster growth opportunities for SENR.