Excellent news! Service Systems International Announces Capital Infusion of Up to $3,000,000 by Prominent California Based Investment Banking Firm
LONG BEACH, Calif.--(BUSINESS WIRE)--May 28, 1999--SERVICE SYSTEMS INTERNATIONAL, LTD. (OTC BB:SVSY) today announced a capital infusion of up to $3,000,000 for product development by Pro Capital Inc., a Long Beach California based investment banking firm.
Michael Scott, President of Pro Capital stated that he is firmly committed to the project and feels the proprietary technology of Service Systems International will revolutionize the process by which wastewater is managed and treated throughout the United States. Service Systems International, Ltd. currently manufactures and markets the world's most advanced, state-of-the-art ultraviolet disinfecting system ULTRAGUARD(tm), used primarily for municipal liquid waste, processed industrial water, potable and additional water resources. This Vancouver based company plays a leading role in the ultraviolet disinfectant sub-market, maintaining a global sales force spanning four continents.
Presently, 90 percent of North American waste water plants use chlorine disinfecting procedures for municipal wastewater. Safety hazards with regard to handling, storage and environmental issues have caused a recent increase in demand by public officials and the population at large for alternative technologies which are both environmentally safe and chemically-free during the disinfectant process. SERVICE SYSTEMS INTERNATIONAL, in conjunction with its revolutionary patented technology ULTRAGUARD(tm), uses low pressure, high intensity ultra-violet lamps to disinfect large volumes of wastewater and potable water, a process now used in only 5 to 10 percent of municipal waste water treatment facilities throughout the U.S. The municipal wastewater treatment industry has a projected growth rate of 10 percent per annum, translating to approximately 640 billion dollars in revenues by the year 2003. Companies following Service Systems International's lead in the ultraviolet sub-market of wastewater treatment as opposed to the detrimental chlorine process, are now considered to be part of a rapidly expanding industry. With an effort to adapt 20 to 25 percent of North American municipal wastewater plants to the new, environmentally safe process in the near future, Service Systems International is poised to dramatically increase its market share within the explosive industry of municipal waste water management. More corporate information may be found at the company's website www.servicesystems.com.
CONTACT:
Service Systems International Ltd.
British Columbia, Canada
Ken Fielding, Investor Relations
604/451-1069 |
