ENGLEWOOD, Colo., March 17 /PRNewswire-FirstCall/ — Vista International
Technologies, Inc. (OTC BB: VVIT), is pleased to provide investors with an
update on the execution of its global development strategy in southeastern
Europe. Vista International Inc., the parent company of VVIT has been working
to expand its reach into SE Europe over the past year and has chosen Bulgaria
as the location for its first project in the region. Vista International and
VVIT, working closely with ID Global Capital, a Vista partner in southern
Europe, are pleased to announce that the municipal government of Kostinbrod,
Bulgaria has initiated the process of establishing a waste to energy project
in this city just outside the Bulgarian capital of Sofia.
The project will be a public/private joint venture between Vista
International, Inc., ID Global Capital, and the city of Kostinbrod, Bulgaria.
The facility will utilize VVIT’s Thermal Gasifier technology which has met EPA
and EU emissions standards, to handle over 70,000 tons per year of municipal
solid waste, with the capability to handle other waste streams as well. ID
Global Capital has secured the rights to the project and is now focusing on
finalizing the exact site location. Vista International estimates the
investment into this project could be in the range of approximately $35-50
Million USD. The investment amount will depend on a number of factors,
including the volume of MSW, any other waste that might come to the project,
and whether the desired end product of the gasification process is electrical
power and/or a high octane liquid fuel product. Early estimates put the
revenues from this project at $10-15 million per year, and with timely
regulatory approval the project can be operational within 24 months.
Barry Kemble, CEO of Vista International Technologies Inc. commented, “Our
foray into the European market is a perfect example of the public and private
sector working together to address and maximize waste issues effecting the
regional and global environment. We have made our initial project in Bulgaria
the focal point of our European operations. As such, we fully expect our
Thermal Gasifier Technology will showcase VVIT’s abilities into additional
markets within Vista’s European development zone.” Mr. Kemble continued, “As
we have seen in various other projects, we expect this venture will also help
spur economic development in the region, and will further enhance our promise
of reducing the carbon footprint, one step at a time.”
ABOUT VISTA INTERNATIONAL TECHNOLOGIES
Vista International Technologies, Inc. is presently comprised of two
divisions devoted to providing environmentally friendly technology solutions
for businesses and communities. Our divisions are focused in the areas of
Waste-to-Energy. For more information on our solutions, please visit us at
http://www.viti.us.com
“Reducing the carbon footprint, one step at a time.”
Statements in this press release other than historical facts are
“forward-looking” statements within the meaning of section 27A of the
Securities Act of 1933, section 21E of the Securities Exchange Act of 1934.
Since these statements involve risks and uncertainties and are subject to
change at any time, the Company’s actual results could differ materially from
expected results. Future operating results of the Company are impossible to
predict and no representation, guaranty, or warranty is to be inferred from
those forward-looking statements. Readers are advised to review the
“forward-looking statements” included in our reports which are filed with the
Securities and Exchange Commission.
SOURCE Vista International Technologies, Inc.