Permit Includes Approval of RDX Multi-Tier Water Treatment System
SCOTTSDALE, AZ, Oct. 17, 2013 /CNW/ - RDX Technologies Corporation ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE:RL7), a water treatment and energy technology company, today announced it has been granted a waste water discharge permit for its Santa Fe Springs treatment facility during its air quality hearing conducted on October 16th, in Diamond Bar, California.
The permit includes the ability to discharge 200,000 Gallons per day, and in capacity situations, discharge 300,000 Gallons per day. The permit also for the first time in a major municipal area (Los Angeles metropolitan area) also permitted RDX waste water treatment equipment and technology manufactured by the RDX facilities located in Scottsdale, Arizona. A major achievement in one of the most heavily regulated air and water quality areas in the world.
Dennis M. Danzik, RDX CEO stated "This permit marks nearly two years of very hard work by our management and staff in both Santa Fe Springs, and Scottsdale. It also signifies that our technology and equipment exceeds standards for operations within major metropolitan areas. In addition, we will now have the ability to operate all six independent "Multi-Tier" systems that will enable us to capture up to four times the valuable effluent from which our renewable fuel products are refined, and substantially cut treatment costs."
Danzik also stated, "Currently the Company has been successfully mining and shipping about a truckload of effluent to our Carthage refinery every 2 to 3 days, over the last several months. Our California to Missouri shipping program was started to prove our business model. We have proven that we can mine and ship our raw materials which we gain from waste water, and retain a substantial margin. Currently, a truckload of effluent is worth about $ 22,000.00 to us, when converted. Our only cost is shipping the effluent to Missouri and that costs about $ 3,500.00, but this cost is offset by the tipping fee paid by our customers at Santa Fe Springs. The permitting awarded in California, will allow us to greatly improve efficiency and gain more of our target customer base. We are expecting results of our water mining to grow more than 300% by the end of this calendar year. Over the next several months, as refinery capacity is added at Santa Fe Springs, the effluent collected will be converted to fuel on site. "
The Company also announced that it will start large scale remediation of the 13 northern acres of the Company's 19.5 acres. Remediation is a part of a submitted Remediation Action Plan that includes the demolition of old petroleum tanks, and remediation of shallow soils. The Company holds a $ 5MM dollar remediation contract as a part of the acquisition in April of this year. In addition the Company expects to realize between $ 1.2MM to $ 2.2MM in additional revenue from steel, aluminum and other salvage operations on the site, beginning next month.
Danzik stated "With our permitting now in place, we can prepare to capture the large value that we have all worked hard to obtain. The footprint of our Santa Fe Springs facility is about 6 acres; this is on par with our facility in Missouri. Our aggressive remediation program, which will run through December of 2014, matches the Remediation Action Plan of the adjacent 36 acres that neighbors our property and was part of the original petroleum refinery, nearly twenty years ago. Revenue billings against our remediation contract will begin next month, and will continue through next year. Our Board of Directors on October 8th approved the marketing of our excess real estate, and we will be using this substantial asset to capture cash, through debt or sale. Our expectations on value, is $ 8MM to just over $ 10MM depending on the new parcel lines. Our remediation contract and the capture of the values in our excess real estate holdings provide a pathway to continued growth, a further strengthening of our balance sheet, and benefit to our shareholders."
The Company would like to publicly commend, and congratulate our staff who worked diligently at our Facility over the last year; Paul Kita, Manager - Engineering Services, Douglas Bean, Manager - Special Projects, Michael Barranco, P.E. - Facilities Engineer, Jan Johnson - Manager - Customer Service. The Company would also like to recognize Scott Havrisik - Vice President of Business Development, and Bob Everett, Manager - Energy Division, who both have put in countless hours at Santa Fe Springs over the last year and a half, and now run our Energy Division.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
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SOURCE: RDX Technologies Corporation
For further information:
David Waldman at Crescendo Communications