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Integrated Environmental Technologies, Ltd.  (IEVM)
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    Sector  Capital Goods    Industry Industrial Machinery and Components
 


 

Integrated Environmental Technologies, Ltd.

Business Description


Integrated Environmental Technologies, Ltd. (“IET”) was originally incorporated in Delaware on February 2, 1999 and is currently a Nevada corporation. IET is headquartered in Little River, South Carolina and operates its business through its wholly-owned subsidiary, I.E.T., Inc., a Nevada corporation incorporated on January 11, 2002.

IET markets its products and equipment under the umbrella brand name EcoTreatments™. IET produces a hypochlorous acid-based solution, commonly known as anolyte, that it markets and sells under the brand name Excelyte®, as well as an anti-oxidizing, mildly alkaline solution, commonly known as catholyte, that it markets under the brand name Catholyte Zero™. Both Excelyte® and Catholyte Zero™ provide an environmentally friendly and effective alternative for cleaning, sanitizing and disinfecting as compared to the hazardous chemicals traditionally prevalent in commercial use. IET manufactures proprietary equipment, which it markets under the brand name EcaFlo®, to produce Excelyte® and Catholyte Zero™ for distribution by IET and, under certain circumstances, such equipment is leased by IET to customers for use at their facilities.

We seek long-term relationships and commitments directly with our targeted customers and distributors. Our business model is focused on selling Excelyte® and Catholyte Zero™ directly to customers. In certain situations, a customer’s business model and required volume of solution may make it advantageous for us to place the EcaFlo® equipment at the customer’s facility. In these situations, we would lease the EcaFlo® equipment to the customer, maintaining ownership of the equipment.

Currently, we are primarily focused on selling large volumes of Excelyte® and Catholyte Zero™ to the upstream oil and gas production market (exploration and production companies), and the majority of our sales, marketing, research and development, and administrative resources are dedicated to this endeavor. However, we also sell smaller volumes of Excelyte® to the healthcare and food production markets, and we maintain long-term interest in developing these business segments further.

IET produces Excelyte® and Catholyte Zero™ with its proprietary EcaFlo® equipment which utilizes electro-chemical activation (“ECA”) technology. ECA technology is a process of passing a diluted saline solution and purified water through an electrolytic cell in order to generate, by electrochemical energy conversion, environmentally-responsible, highly-active, meta-stable solutions which possess electron-donor or electron-acceptor properties known as catholytes and anolytes.

The EcaFlo® equipment consists of our flow control hardware and system, our proprietary electrolytic cell and operating software algorithms and a touch-screen/PLC interface. EcaFlo® equipment produces Excelyte® and Catholyte Zero™ with great accuracy, dependability and reliability throughout a wide range of pH, free available chlorine and salt concentration variables to meet the needs of various applications. EcaFlo® equipment can produce solutions ranging from biocides/disinfectants to sanitizers to cleaners.

Oil and Gas

We currently segment our activities in the oil and gas business into three main categories:

Well Maintenance – focuses on using (1) Excelyte® as a hydrogen sulfide scavenger/eliminator and as a biocide to significantly reduce or essentially eliminate hydrogen sulfide and bacteria in oil and gas wells and related equipment; and (2) Excelyte® and Catholyte Zero™ in a dual treatment regimen to increase oil production and substantially reduce hydrogen sulfide, iron sulfide scales (FeS), bacteria and bacterial deposits present in oil wells;

Drilling and Completions – focuses on using Excelyte® as a biocide to treat water before it is used in hydraulic fracturing, commonly referred to as “make-up water”, in order to remove bacteria in the water; and

Water Remediation – focuses on using Excelyte® as a hydrogen sulfide scavenger/eliminator and as a biocide to treat water after it is used in hydraulic fracturing, commonly referred to as “produced water”, in order to remove bacteria so that the water can either be re-used in hydraulic fracturing or safely disposed.

Hydraulic fracturing is a method of drilling new oil and gas wells. In this process, fracturing fluids – which contain proppants (sand) and vast amounts of water, in addition to biocides and other chemicals that can be toxic to humans – are pumped into oil and gas wells at high pressure in order to more completely fracture subterranean rock formations and release the oil and natural gas trapped in those formations. Millions of gallons of “make-up water” are used in the fracturing process each day. In addition, millions of gallons of water return to the surface as “produced water” after the fracturing process is completed. Both the make-up water used in fracturing fluids and the produced water must be treated to control or eliminate the bacteria and other unwanted microorganisms often present in those waters.

Excelyte® significantly reduces bacteria present in production wells, including sulfate-reducing bacteria which are known to produce hydrogen sulfide. Hydrogen sulfide is a highly toxic and corrosive chemical that frequently appears in oil and gas production. Exposure to humans can be fatal. By reducing the amount of bacteria and hydrogen sulfide present in the oil and gas wells, we believe that: (1) the work environment at the well site will be safer since the amount of hydrogen sulfide gas is significantly reduced; (2) the rate of corrosion on the well linings and other equipment used in the production well will be reduced, thereby reducing the maintenance required on a well; and (3) the quality of the oil and gas produced will be potentially improved. In addition, we believe that Excelyte® is as effective as other competing chemical technologies in treating both make-up water and produced water, and more environmentally responsible due to its naturally occurring properties.


To date, the majority of our efforts in oil and gas have focused on well maintenance, with a particular emphasis on oil wells. Hydrogen sulfide is one of the leading threats to oilfield worker safety, claiming lives every year because of its toxicity at very low levels of concentration. A particular emphasis for oil and gas producers is controlling the level of hydrogen sulfide at or near the well head. Our well maintenance operations consist of treating oil and gas production wells that test positive for hydrogen sulfide above a specified level with regularly scheduled applications of Excelyte®. The results of Excelyte® well maintenance treatments have shown that Excelyte® is effective as a hydrogen sulfide scavenger/eliminator and as a biocide, and that Excelyte® reduces the level of hydrogen sulfide in oil wells faster than competing products, which we believe is due to the ability of Excelyte® to kill sulfide-producing bacteria rapidly. In addition, the naturally occurring properties of Excelyte® make it easier to administer and more environmentally friendly than competing products. We believe that our Excelyte® treatment protocol can significantly reduce or essentially eliminate hydrogen sulfide from our customers’ oil wells. We also are currently developing an Excelyte® treatment protocol for gas wells, and expect results similar to the results of our Excelyte® treatments on oil wells.

We have recently developed a new proprietary well treatment protocol that consists of a dual treatment regimen that utilizes Excelyte® and Catholyte Zero™. The protocol significantly increases oil production and substantially reduces hydrogen sulfide, iron sulfide scales (FeS), bacteria and bacterial deposits present in oil wells. Initial tests were performed in the West Texas Region of the Permian Basin on five stripper wells, which are typically defined as oil wells producing ten barrels of oil per day or less. The results showed that this new proprietary dual treatment substantially reduced hydrogen sulfide and bacteria and their deposits present in the five wells and increased the production volumes of the wells by approximately 75% after one month of treatment. We believe that this new dual treatment provides operators of stripper wells with an important tool to substantially increase production and profitability of these wells.

Our current business model for our oil and gas operations is centered on establishing Excelyte® production facilities in strategic locations throughout the various basins in the United States where oil and gas is produced and where hydrogen sulfide presents a significant problem. We produce Excelyte® at these locations and generally have it delivered to customers by third party fluid-trucking companies. Each production facility is staffed by appropriate personnel to sell and produce Excelyte® and to service our customers. Our production facilities are established in typical warehouse space and generally start with four to six EcaFlo® units per facility. Because of the stand-alone nature of the production machines, we estimate that up to twenty units can be set up in approximately 3,500 square feet of space. These manufacturing facilities require power and clean water, but no special sewerage or by-product disposal services. A facility containing six of our four-cell EcaFlo® units can produce approximately 7,200 gallons of product daily.

We currently have production facilities in: (1) Myton, Utah, servicing the Uinta Basin; (2) Artesia, New Mexico, servicing the New Mexico region of the Permian Basin; (3) Pecos, Texas servicing the West Texas region of the Permian Basin; and (4) Pearsall, Texas, servicing the Western Gulf Basin. As of December 31, 2015, we had provided Excelyte® well maintenance treatments on 235 oil wells in these areas. We estimate that there are approximately 5,000 oil wells in the Uinta Basin, 25,000 oil wells in the New Mexico region of the Permian Basin, 64,000 oil wells in the West Texas region of the Permian Basin and 12,000 oil wells in the Western Gulf Basin that would benefit from the regular use of Excelyte® as part of a well maintenance program. Further, we believe that there are over 400,000 stripper wells in the United States that could benefit from the dual treatment of Excelyte® and Catholyte Zero™ with approximately 140,000 of these wells located in Texas.


As our business grows, we will look to expand our oil and gas operations further in the Permian Basin (Texas) and Western Gulf Basin (Texas) and to other areas such as the Williston Basin (North Dakota) and the Piceance Basin (Colorado).

We are currently focused on generating recurring revenue through the sale of Excelyte® and Catholyte Zero™ in well maintenance operations, but as we grow and improve our cash flow, we will look to further expand the sale of Excelyte® into drillings and completions as well as water remediation. We continue to believe that the three oil and gas market segments noted above potentially represent a $2.5 billion market opportunity in the United States.

Healthcare Facilities

Excelyte® is a tuberculocidal hospital-level disinfectant that can be used effectively anywhere non-porous hard surfaces are disinfected for the purpose of infectious disease control. In addition, Excelyte® qualifies as a Centers for Disease Control and Prevention (“CDC”) Intermediate Disinfectant meeting the Occupational Safety and Health Administration’s blood-borne pathogen standard.

Healthcare facilities are increasingly facing major problems in controlling bacteria and viruses. Of particular concern is carbapenem-resistant Enterobacteriaceae (CRE), cited in a CDC Health Advisory dated February 14, 2013. Excelyte® eliminates one of the most common types of CRE, Klebsiella pneumoniae (NDM-1).

In addition, Excelyte® eliminates Clostridium difficile spores (C. diff), a bacterium that can cause symptoms ranging from diarrhea to life-threatening inflammation of the colon. Illness from C. diff most commonly affects older adults in hospitals or in long-term care facilities and typically occurs after use of antibiotic medications. In recent years, C. diff infections have become more frequent, severe and difficult to treat as C. diff has increasingly become more resistant to disinfectants.

The ability of Excelyte® to eliminate bacteria such as the CRE Klebsiella pneumoniae (NDM-1) and C. diff, as well as other health-related bacteria and viruses including, but not limited to, Tuberculosis, VRE and HIV, make Excelyte® a very beneficial product for healthcare facilities. The naturally occurring properties and efficacy of Excelyte® make it an ideal product for healthcare providers since it can be applied in spray format in order to completely cover a facility.

Excelyte® VET (EPA Registration #82341-4) can be used to prevent Canine distemper. Canine distemper is highly contagious and is the leading cause of infectious disease deaths in dogs worldwide. This product registration also allows us to market Excelyte® VET to prevent the spread of Canine parvovirus and Bordetella bronchiseptica. Excelyte® VET is expected to be used to disinfect animal care facilities. We are currently working with a distribution partner as it prepares for the market launch of Excelyte® VET.


In June 2014, the Carson Tahoe Health Systems, Carson City, Nevada, published the results of its independent study showing the effectiveness of Excelyte® in reducing the amount of bacteria present in a hospital setting. The study also highlighted Excelyte’s® naturally occurring properties, which do not corrode hospital equipment like chemicals historically used in this setting.

We have undertaken additional testing to show efficacy with additional species of bacteria, and continue to work on new application methods. One of those application methods, which we are developing with a partner, is now being reviewed by the EPA for use in healthcare settings. If approved, this system will allow users to apply the product by means other than spraying and wiping, producing a more efficient delivery system to kill the harmful germs responsible for the increase of hospital-borne pathogen deaths and diseases. We also are in discussions with a potential partner for distribution into hospitals.

Most of our resources are currently focused on the upstream oil and gas market. Accordingly, we plan to partner with others who can assist us in the development, marketing and distribution of Excelyte® in the healthcare facilities market.

Food Production

Excelyte® is permitted to be used in commercial plants producing meat, poultry, egg, vegetable and fruit products as a disinfectant and sanitizer under the U.S. Department of Agriculture’s (the “USDA”) Codes for Federal Regulation and the USDA’s Food Safety and Inspection Service (“FSIS”). In addition, Excelyte® has been registered by NSF International (“NSF”) as an antimicrobial agent (D2 category), not requiring rinse after use in food contact surface applications.

We believe that Excelyte® is more efficient than the bleach solutions traditionally used to mitigate pathogens in food processing, water disinfection, and fungicidal control. Excelyte® quickly destroys microorganisms and pathogens on fruits, vegetables, and processing equipment without leaving a harmful residue, and is effective for non-porous hard-surface disinfection at customer facilities. The naturally occurring properties and non-corrosive nature of Excelyte® make it an excellent replacement for quaternary ammonia and other hazardous chemicals currently in use.

Excelyte® kills the following non-enveloped viruses: adenovirus, norovirus, rhinovirus and rotavirus. These viruses have resulted in serious problems for chain restaurants, cruise ships, and other establishments operating in the food, health and hospitality industries. Non-enveloped viruses are more resistant to disinfectants than enveloped viruses, many of which are already listed on the Company’s master label. EPA-registered hospital disinfectants such as Excelyte® that have claims against non-enveloped viruses are capable of killing both enveloped and non-enveloped viruses on non-porous environmental surfaces. This group of viruses can cause serious gastrointestinal, stomach, respiratory and eye infections in humans who have been exposed.

Norovirus is highly contagious and is spread through contaminated food, water and environmental surfaces. Norovirus infections have been an ongoing challenge in the food, healthcare and hospitality industries and recent outbreaks in major chain restaurants and cruise lines have highlighted not only the dangers that these viral infections pose to humans, but also the lack of effective control measures currently in place. We believe Excelyte® can play a key role in controlling and preventing future norovirus outbreaks.

   

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