Calgary, Alberta--(Newsfile Corp. - December 3, 2024) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company"), a leader in innovative clean technology solutions, is proud to announce the successful field trial of its EcoSteam technology. The EcoSteam is a mobile evaporation platform that utilizes natural gas to power a proprietary thermal separation process significantly reducing wastewater volumes. This achievement marks a significant milestone in the growth of Cleantek's low-emission water evaporation product line.
The successful field trial of the first EcoSteam unit marks the initial phase of Cleantek's fleet refurbishment and redeployment initiative. Converting the Company's large fleet of legacy and underutilized, diesel-powered CleanSteam units presents a significant growth opportunity for Cleantek. With low capital requirements for refurbishment and a quick turnaround, this initiative offers a unique opportunity to expand the Company's product portfolio and drive revenue growth, at minimal cost.
Five additional EcoSteam units are being re-manufactured in the Company's Crossfield facility with a target of twenty-five units to market by early Spring 2025. Strong customer demand for evaporation technologies and the shared interest in lower-emitting technologies align seamlessly with Cleantek's suite of products. The EcoSteam serves as a compliment to the Company's highly successful DZeroE suite of waste heat evaporators, further enhancing our product offerings.
Key Highlights from the recent EcoSteam Trial:
- Output: Exceeded customer requirements for water evaporation rates and the customer plans to keep the unit for the duration of winter and has asked for a second unit.
- Emission Reductions: Utilizing natural gas (including waste gas) to evaporate wastewater on-site provides a low-emissions method of recycling water to the atmosphere. This approach minimizes disposal volumes and significantly reduces truck transport.
- Operational Flexibility: Demonstrated seamless integration into existing infrastructure, with minimal operational disruption.
- Redeployment of Idle Assets: Utilizing the fleet of legacy diesel-powered CleanSteam units for the EcoSteam conversion allows the Company to redeploy assets that were idle and fully depreciated at a minimal cost of conversion. While the conversion does not allow the Company to recognize the full value of these redeployed assets on the balance sheet the new revenue stream will result in a high return on investment and a very quick payback.
"We are very pleased with the results of the EcoSteam trial and would like to extend our gratitude to our customers for sponsoring the application," said Cleantek CEO, Riley Taggart. "The EcoSteam initiative is among the first steps of Cleantek's strategy to reimagine the possibilities of our idle assets. We are committed to further expanding into the water evaporation market and, with strong customer demand for EcoSteam units, we aim to continue their conversion through 2025."
About Cleantek Industries Inc.:
Cleantek is an environmental technology-based company that provides specialized and fully integrated wastewater treatment and disposal equipment along with turnkey sustainable lighting rental solutions. Cleantek leverages its patented technology and industry expertise to provide equipment to service a diverse clientele. Cleantek prioritizes people and the environment through our high-performance safety-focused culture and our experienced technical professionals are committed to providing environmentally friendly cost-effective solutions to our clients.
Cleantek provides technology-based solutions for an increasingly demanding water treatment and disposal sector along with location lighting to provide safe working conditions for 24-hour operations. Cleantek provides its technology and services in some of the most active areas in Canada and the United States. Our environmental, safety and operational performance have enabled us to establish and maintain a blue-chip client base, including many exploration and production companies in North America.
For Further Information:
Riley Taggart, President & CEO
Email: rtaggart@cleantekinc.com
Website: cleantekinc.com
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