Additional - $8 million in Annual Revenue
Management Agreement for Waste Water Company in Southern California
CALGARY, Feb. 12, 2013 /CNW/ - Ridgeline Energy Services Inc.
("Ridgeline" or the "Company") (TSXV: RLE, OTCQX: RGDEF, FSE: RL7) an
energy services and water treatment technology company, today announced
a Management Agreement with 13TONS, LLC ("13TON").
Effective October 1, 2012, Ridgeline entered into a Management Contract
for the management of waste water collections in California. Ridgeline
became responsible for administration, management, sales, water
treatment, and all other functions of the business whose primary
purpose is to collect waste water for treatment, extraction of
by-products and management of beneficial feed stock. Ridgeline and
13TON are currently negotiating an asset purchase which is expected to
be completed and in effect, by March 15, 2013, The Management Agreement
may be extended if necessary.
13TON specializes in the management and collection of several different
types of waste water including interceptor, grease trap, food
processing, and large footprint waste water sites. The company
primarily operates in California, Arizona and Nevada, but has brokerage
Annual revenues at 13TON are currently over $8 million per year and are
expected to grow. The combination of; 13TON's collection network,
Ridgeline's water treatment technology and discharge permits provide
for a synergistic opportunity to grow revenues. Both Santa Fe Springs
and the recently announced Consolidated Water Treatment of Missouri
facility will be positively impacted by additional water treatment
revenues delivered by the 13TON's collection network.
Ridgeline will also benefit greatly from the management experience of
Ben Maese who has built 13TON over these many years. Ben is a certified
public accountant and is one of the most experienced professionals in
the waste water industry in California, Nevada, and Arizona.
"We are very pleased to watch our California Division grow to nearly $20
million dollars in annualized revenue, with this Management Agreement.
Having Ben Maese's experience and strong counsel will allow Ridgeline
to expand operations into other properties, sooner than later", stated
Dennis M Danzik, Ridgeline's Director of Engineering and Operations.
Tony Ker, Ridgeline CEO stated, "It is great to continue to watch our
Santa Fe Springs property grow organically, but when we can absorb
large blocks of business, like 13TON and concurrently add
infrastructure for additional growth, we will act swiftly".
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is an energy services and water treatment
technology company. The Company is applying proprietary technology to
treat water generated from industrial and commercial waste water
markets. These markets include a wide variety of clients across a broad
spectrum of industries including oil and gas. Through its environmental
consulting and remediation divisions, Ridgeline Environment has built a
reputation as an established provider of environmental services to the
Western Canadian oil and gas industry. Ridgeline GreenFill provides
soil remediation and wet waste disposal services to the oil and gas
industry. The Company trades on the TSX Venture Exchange under the
symbol "RLE", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as
ON BEHALF OF THE BOARD OF DIRECTORS
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release. This news release may contain forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers are
cautioned not to place undue reliance on forward-looking information,
as no assurances can be given as to future results, levels of activity
SOURCE: Ridgeline Energy Services Inc.
For further information:
Ryan Johnson of Ridgeline Energy Services Inc.
(604) 566-8066 ext. 3 (Vancouver)
David Waldman at Crescendo Communications
(212) 671-1021 (New York)