Ridgeline Commissions Santa Fe Springs California Number 3
New Facility Marks Third Commercial Installation of Proprietary Water Treatment Technology
CALGARY, April 19, 2012 /CNW/ - Ridgeline Energy Services Inc. (TSX-V: RLE; OTCQX: RGDEF) ("Ridgeline" or the "Company"), an energy services and water treatment company, has completed installation of its new waste water treatment facility known as Santa Fe Springs 3, located in Santa Fe Springs California, previously announced on April 10, 2012.
Start of continuous operations is scheduled for April 23rd.
The newly commissioned facility has the ability to process up to 105,000 Gallons of waste water per day. The new facility capacity is approximately 50% sold out.
The Santa Fe Springs facility outside Los Angeles CA, is built to accept truck delivery of waste water, Monday through Friday, but will accept waste 24 hours a day, 7 days per week. The facility will serve approximately 130 current customers, and will be accepting additional new customers beginning next month.
"Our Santa Fe Springs Facility 3 has been in development for just over seven months and represents just the first phase of growth for our second permanent facility in the United States," stated Tony Ker, Ridgeline's Chief Executive Officer. "It will increase our annual revenue run rate immediately by about $ 3MM. The start of our operations in Santa Fe Springs will also represent a nearly 30% increase in annual revenue for Ridgeline."
Ridgeline expects that the Santa Fe Springs facility will grow to include as many as three segregated water treatment plants planned for installation over the next two years, as systems are permitted and constructed. The Santa Fe Springs plant is located on seventeen acres in Santa Fe Springs, California.
About Ridgeline Energy Services Inc.
Ridgeline Energy Services Inc. is an energy services and water treatment company. The Company is applying proprietary technology to treat the large volumes of contaminated water generated by oil and gas production. The Company is working with energy majors in the application of its technology for the recycle and reuse of; produced and hydraulic stimulation flowback water; enhanced recovery chemical flood water; and oil sands process water. As well the Company is applying its technology in the testing and treatment of commercial and industrial waste water. Through its environmental consulting and remediation subsidiaries, Ridgeline Environment Inc. and Ridgeline GreenFill Inc., the Company has built a reputation as an established provider of environmental services to North America's oil and gas industry. The Company trades on the TSX Venture Exchange under the symbol "RLE" and the OTCQX as "RGDEF". Additional information is available on the Company's website at: www.ridgelinecanada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news 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 or achievements."
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)