Veridium Receives Order for Ethanol Facility Efficiency Upgrade Tuesday February 14, 11:08 am ET
NEW YORK--(BUSINESS WIRE)--Feb. 14, 2006--Veridium Corporation (OTC Bulletin Board: VRDM - News) today announced that its receipt of a $560,000 order from Little Sioux Corn Processors ("Little Sioux") to design and install efficiency upgrades to Little Sioux's Marcus, Iowa ethanol production facility. ADVERTISEMENT
Little Sioux, an innovative farmer-owned ethanol production facility that was commissioned in April 2003 and was designed to produce 40 million gallons of ethanol per year. Facility operators have been able to eliminate processing bottlenecks to allow it to consistently produce in excess of 50 million gallons of ethanol annually, and Little Sioux continues to implement new processing technologies.
Continuing to be a leader in innovation, Little Sioux has requested Veridium's assistance in upgrading its processes. The efficiency upgrades are expected to generate an additional $650,000 in annual income for Little Sioux.
Steve Roe, general manager of Little Sioux, states "Veridium's process engineers have consistently demonstrated their ability to innovate process solutions that enhance our operations, reduce our costs and increase our profits. We are happy to work with them on this project and look forward to working with them in the future."
Veridium Corporation (OTC Bulletin Board: VRDM - News) is a publicly traded industrial waste recycling company and holds the rights to more than a dozen proprietary universal processing, water purification, emissions control and waste recycling technologies.
Veridium's business model is based on the engineering and marketing of green innovations and processes that enhance manufacturing efficiencies, improve resource utilization and minimize waste. Veridium's mission is to deliver consumer oriented Natural Solutions(TM) based on an array of green technologies and applied engineering expertise that reduce waste at the source and make it easier for people and businesses to recycle and reuse resources. Veridium plans to focus on the continued acquisition, development and marketing of benchmark green technologies and products that accomplish the following key goals:
Reduce the volume of waste generated by residential and commercial consumers; Increase the convenience and decrease the cost of recycling by residential and commercial consumers; and, Increase the cost-efficiency of processing certain types of industrial wastes. Veridium is about 65% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
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Bump! any other DD on this one? Seems like a great investment, our dependence on foreign oil has got to change IMO. I know Kramer doesn't think Ethanol has a future, but I disagree
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This news hit last week (found it on pinksheets.com)...
"VRDM -- Veridium Corp. Com ($0.00001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
DEP fines metal recycler $250,000
Feb 16, 2006 (The Record - Knight Ridder/Tribune Business News via COMTEX) -- A metal recycling company must pay the state $250,000 for a series of violations at its former plant in Paterson, including storing volatile chemicals too close together and failing to get permits to emit pollutants through its stacks, officials announced Wednesday. Veridium Corp. shut down its plant on Jasper Street in January for reasons unrelated to the enforcement action that led to the settlement, said Elaine Makatura, a spokeswoman for the state Department of Environmental Protection.
The company and its predecessors were cited seven times by DEP inspectors since 1999.
In one instance, the recycling plant was found to be improperly storing 29,000 pounds of cyanide, acids, bases and other potentially explosive chemicals. Drums of cyanide were stored in a vehicle that also had containers of acid, a potential hazard, Makatura said
Some hazardous waste materials were kept on site for longer than the state-permitted 90 days, while others were stored in containers that weren't properly labeled, Makatura said. "There was some sloppy record-keeping," Makatura said.
The company also failed to obtain a permit for operating a materials dryer on site, which emitted unknown contaminants into the air, Makatura said.
Veridium, which has company offices in Lowell, Mass., will pay the fine in installments through December 2010. Company officials did not return phone calls Wednesday.
"Time and again, this company jeopardized the public's health and safety and our environment by mishandling hazardous materials and neglecting its responsibility to safeguard air quality," acting DEP Commissioner Lisa Jackson said in a statement. "We have no tolerance for any actions that leave our already overburdened urban communities vulnerable to toxic mishaps."
Veridium had used an innovative method of mining ores such as copper, nickel, chrome and zinc out of byproduct materials, such as wastewater, and then selling it to refiners.
The corporation was formed from a consolidation of five companies in October 2003. Its Jasper Street plant, when operating under the ownership of American Metals Recovery, was the site of a minor fire in October 2001 and an accident in April 2003 in which three workers were sent to the hospital after a tank of hydrofluoric acid ruptured.
By Colleen Diskin"
Despite this news, the stock actually posted modest gains on Friday of about 6%. It never could break the .34 ceiling, though. I followed this throughout the day - the ask price was .037 quite often. I expect this is going to make a decent run sometime this week, perhaps to about .065, but I'll probably get out around .060, just to play it safe. I bought at .03 earlier in the week.
Indytrader
-------------------- The views and opinions expressed here are solely those of Indytrader. Make your own decisions based on what's right for you and your money.
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