Monday February 9, 3:00 am Eastern Time
Company Press Release
SOURCE: Commodore Environmental Services, Inc.
Second Port of Baltimore Contract Awarded to Commodore Environmental Services, Inc. by State of Maryland
NEW YORK, Feb. 9 /PRNewswire/ -- Commodore Environmental Services, Inc. (OTC Bulletin Board: COES - news) announced today that one of its subsidiaries has been awarded its second contract from the Maryland Environmental Service (MES) to remove hazardous chromium from leachate emitting from a waste site at Baltimore Harbor.
Commodore Separation Technologies, Inc. (Nasdaq: CXOT - news, CXOTW - news, CXOTP - news), an 87%-owned subsidiary of Commodore Applied Technologies, Inc. (Amex: CXI - news, CXIW - news), negotiated the contract with Maryland Environmental Service (MES). Commodore Environmental Services owns approximately 52% of Commodore Applied Technologies.
The sole-source, multi-year contract has provisions for renewal and means Commodore's proprietary SLiM(TM) system will be installed at the Dundalk Marine Terminal. Last October Commodore announced a similar installation, contracted with MES, for the Hawkins Point site at Baltimore Harbor. In tests conducted last year at the Port, concentrations of Chromium VI as high as 600 parts per million (ppm) were reduced to less than 0.05 ppm, the maximum allowed by Federal drinking water standards.
''This decision by the Maryland Environmental Service to utilize Commodore's innovative technology is another important advance in its fight to improve the water quality of the Chesapeake Bay,'' said MES. ''The result is that the State of Maryland will incur an economic benefit when compared to conventional treatment methods while achieving the goals for chromium removal at this location.''
Paul E. Hannesson, Commodore's chairman and chief executive officer, said, ''This second contract with the State of Maryland clearly confirms SLiM's capabilities and affirms our belief that the remediation market is one of Commodore Separation's prime targets. We anticipate expanding our opportunities in environmental remediation, and continue to believe SLiM will have a major impact through its many industrial applications.
''The Baltimore Harbor project is important to Commodore because it showcases a technology with unique economic and environmental benefits,'' said Hannesson. ''We not only purify waste streams economically, but we recover materials from the point source that can have further valuable industrial applications. In effect, we clean up the environment while recycling valuable materials.''
Commodore's SLiM system separates and removes targeted valuable substances or contaminants from liquids and gases. The process has broad application in the metal plating and finishing, biopharmaceutical and mining industries.
Commodore Separation Technologies, Inc., an 87%-owned subsidiary of Commodore Applied Technologies, Inc. (Amex: CXI - news, CXIW - news) completed its initial public offering of stock on April 5, 1997, raising gross proceeds of $13.7 million. The mission of the Commodore group of companies is to commercialize new process technologies. The Commodore family includes Commodore Applied Technologies, Inc. (Amex: CXI - news, CXIW - news), Commodore Separation Technologies, Inc. (Nasdaq: CXOT - news, CXOTW - news, CXOTP - news), Commodore Solution Technologies, Inc. and its wholly owned engineering subsidiary, Commodore Advanced Sciences, Inc. Commodore Applied is approximately 52%-owned by Commodore Environmental Services, Inc. (OTC Bulletin Board: COES - news).
These materials contain forward-looking statements based on a series of projections and estimates regarding economics within our markets, the industries in which we operate, the effects of legislation and regulations, as well as business and competitive outlook.
SOURCE: Commodore Environmental Services, Inc.
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