Does this mean the bus has received a rebuilt engine? LOL
Earth Sciences Inc. Ahead of Schedule to Achieve Profitability in 2001
New Systems to Be Installed in Second Quarter on Over 1100 MWs of Power Generation Represents a 60% Increase
LITTLETON, Colo., April 26 /PRNewswire/ -- Earth Sciences, Inc. (OTC Bulletin Board: ESCI - news) today announced today that first quarter results and the anticipated impact of new sales will put the company ahead of 2001 projections. The operating projections for consolidated profitability in 2001 were based upon existing business and expected sales of proprietary technology provided by its wholly owned subsidiary, ADA-ES, an environmental technology and specialty chemical company.
Because of planned maintenance shutdowns of customer power plants during the spring, first and second quarter consolidated results were not expected to be profitable. However, recent new customers and increased sales during the second half of the year are expected to put ESCI ahead of schedule for achieving consolidated profits for the year. Details of the first quarter results will be released in early May, along with ESCI's Securities and Exchange filing.
The company has achieved more than two years of performance success with ADA-37, ADA-ES' premier flue gas conditioning (FGC) product. During the second quarter of 2001, ADA-ES will install new ADA-37 systems to treat flue gas from over 1100 mega watts of power. This represents a 60 percent increase above the current capacity of plants using ADA-37. The ADA-37 product recently received the Air and Waste Management Association's 2001 J. Deane Sensenbaugh Award in recognition of outstanding achievement in the field of air pollution control.
``Our belief has been confirmed that further recognition and acceptance of this innovative technology by coal-fired power plants would lead to increased sales,'' reports Mark McKinnies, ESCI president. ``We expect usage at the new systems we're installing to exceed our previous projections for chemical sales in 2001.''
The high price of natural gas and concern over power shortages have created an excellent business environment for ADA-ES. Its activities are focused on helping the electric utility industry meet environmental regulations and improve operating efficiencies. ``We expect that we will close additional sales of our technology and products later this summer and into the fall,'' predicts McKinnies.
In addition to new projects with FGC, the company also is making progress on other fronts. Startup activities are underway at the first two sites using ADA-ES' combustion enhancement product, ADA-249. ADA-ES also is completing the first full-scale test of mercury control at Alabama Power's E.C. Gaston Plant. This is the first of four plants to be tested under a $6.8 million Department of Energy program that ADA-ES is leading. The encouraging performance results will be available to the public during July or August.
About Earth Sciences
Headquartered in Littleton, Colorado, Earth Sciences is a specialty chemicals and chemical processing company. Its subsidiary, ADA Environmental Solutions (ADA-ES), is an environmental technology and specialty chemical company that brings 25 years of experience to improve responsible profitability for electric power and industrial companies through proprietary products and systems that mitigate environmental impact while reducing operating costs. Earth Sciences owns a currently idled chemical processing facility in Calgary, Alberta, Canada that produced purified phosphoric acid. An industry partner is being sought to provide working capital and market visibility to re-start the facility.
Earth Sciences' common stock trades on the OTCBB under the symbol ESCI.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The United States Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for such forward- looking statements in this document that are based on information the Company believes reasonable, but such projections and statements involve significant uncertainties. Actual events or results -- including predicted achievement of profitability -- could differ materially from those discussed in the forward- looking statements as a result of various factors including but not limited to changing market demand for ADA-ES chemicals and systems and changes in technology, laws or regulations, demand for the company's securities, and other factors discussed in the company's 2000 Form 10-KSB and recent 10-QSBs.
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SOURCE: Earth Sciences Inc.
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