EarthFirst Subsidiary Secures Contract From Leading Surplus and Off-Spec Chemical Supplier for Delivery Of CP-200 Carbon
TAMPA, Fla.--May 1, 20058, 2005--| Shipments of 40,000 Pounds of Carbon Per Month to Begin Within 60-Days |
EarthFirst Technologies, Inc. (OTCBB:EFTI), a specialized holding company engaged in the research, development and commercialization of technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid waste, and in supplying electrical contracting services internationally, today announced that A&M Associates, Inc., a California-based subsidiary of Product Partners Chemicals Co. that supplies surplus and off-specification chemicals, has contracted to purchase a minimum of 40,000 pounds per month of CP-200 Carbon from World Environmental Solutions Company, Inc. (WESCO), a wholly-owned subsidiary of EarthFirst. The term of the agreement is for five years and is expected to generate a minimum of $1 million over the life of the agreement. WESCO expects to begin shipments of CP-200 Carbon to A&M Associates within 60 days.
CP-200 Carbon is a patent-pending by-product of EarthFirst's proprietary Catalytic Activated Vacuum Distillation (CAVD) technology utilized in the Company's innovative tire remediation process. EarthFirst's prototype solid waste processing plant, currently being marketed worldwide, is located in Mobile, Alabama and is capable of producing three million pounds annually of CP-200 Carbon, in addition to other marketable by-products including oil, steel and energy-dense gas.
About EarthFirst's Catalytic Activated Vacuum Distillation (CAVD) Technology
The CAVD technology was developed by EarthFirst to recycle tires and other waste by heating material without burning it. The technology evolved from the Company's close working relationship with Oak Ridge National Laboratory and scientists from the newly independent states of the former Soviet Union. Based on the CAVD technology, EarthFirst's proprietary tire processing system produces usable energy and a broad range of valuable by-products, including steel, carbon, oils similar to kerosene and diesel fuel, and an energy-dense gas. EarthFirst burns tires in a vacuum at a third of the typical pyrolysis temperature, preserving tire components and satisfying even the strictest emissions regulations (as verified by Oak Ridge). The EarthFirst process relies on proprietary catalysts to convert tires at rapid rates. From a typical 20-pound passenger tire, EarthFirst's CAVD technology can recover nine pounds of carbon, for the manufacture of polymers; one gallon of oils, which can be used as fuels or industrial process oils; two pounds of steel; and 30 cubic feet of combustible gases to generate electricity. The Company's prototype, fully operational plant is located in Mobile, Alabama.
About EarthFirst Technologies, Inc.
EarthFirst Technologies, http://www.earthfirsttech.com, is dedicated to producing environmentally superior products from carbon-rich solid and liquid materials currently considered wastes. The Company has conducted more than five years of extensive development on advanced technologies to achieve this goal. Through the Company's subsidiary World Environmental Solutions Company, Inc. (WESCO), EarthFirst globally markets its proprietary CAVD technology to drive sales of plants and plant-produced by-products. Through its subsidiary Electric Machinery Enterprises, Inc., http://www.e-m-e.com, the Company provides electrical contracting services both as a prime contractor and as a subcontractor, electrical support for industrial and commercial buildings, power generation stations, and water and sewage plants in the US and abroad.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of EFTI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future EFTI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and EFTI has no specific intention to update these statements.