DENVER, CO--(Marketwired - Feb 7, 2014) - On January 15, 2014, BP (formerly British Petroleum), one of the world's leading international oil and gas companies, released BP Energy Outlook 2035, a document in which BP forecasts energy production and consumption trends for the next 20 years. The results show a number of positive trends for Vista International Technologies Inc. (OTCQB: VVIT), and its proprietary waste-to-energy technology, the Thermal Gasifier.
According to the document, global energy consumption is expected to rise 41% from 2012 to 2035, with the majority of the growth coming in emerging markets. However, renewable energy production is expected to grow over 370% during that same time period, with sizeable gains seen in Vista's initial target markets of North America and Europe.
Fossil fuel consumption, currently at 87% of total consumption, is expected to shrink to roughly 81.5% of total consumption by 2035, as entities search for ways to utilize renewable resources in a cost effective way. Equally important in the forecast is the increase in renewable energy's proportion of global electricity production, which is expected to grow from 5% in 2012 to 14% by 2035, an increase of 180%.
With Vista's newest waste-to-energy project expected to come online in the first quarter of 2014, Vista management believes that the forecasts provided by BP confirm that Vista is in a "sweet spot" to capitalize on these trends in the energy industry. Vista's Thermal Gasifier technology is in a high growth segment of the energy sector (renewable electricity production) and is focusing its initial rollout in target areas that are also experiencing high levels of growth. In addition, Vista is giving end-users the ability to utilize a proven, cost-effective renewable technology which has the ability to use virtually any hydrocarbon-based waste material as fuel. This capability, coupled with the system's low costs of installation and operation, make it an ideal choice for those seeking renewable electricity production at competitive costs.
Vista management encourages our shareholders to read the full report at www.bp.com/energyoutlook.