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Second Port of Baltimore Contract Awarded to Commodore Separation Technologies, Inc. By State of Maryland
PR Newswire - February 09, 1998 03:02
COES CXOT CXOTW CXOTP CXI CXIW %ENV %CON V%PRN P%PRN
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Jump to first matched term NEW YORK, Feb. 9 /PRNewswire/ -- Commodore Separation Technologies, Inc.
(Nasdaq: CXOT, CXOTW, CXOTP) announced today that the Maryland Environmental
Service (MES) has awarded Commodore a second contract to remove hazardous
chromium from leachate emitting from a waste site at Baltimore Harbor.
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(TM)
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(TM)
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(TM) 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, CXIW) 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, CXIW), Commodore Separation
Technologies, Inc. (Nasdaq: CXOT, CXOTW, CXOTP), 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).
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 Separation Technologies, Inc.
/CONTACT: John Peterson, Media, or Melissa C. Berkowitz, Shareholders,
212-308-5800, both of Commodore/
(COES CXOT CXOTW CXOTP CXI CXIW) |
