Environmental Waste International Inc.

Environmental Waste International Inc.

December 08, 2006 15:38 ET

EWI Accepts Offer on Building and Land

AJAX, ONTARIO--(CCNMatthews - Dec. 8, 2006) - Environmental Waste International Inc. (TSX VENTURE:EWS) (EWI) announced that it expects to close a transaction to sell its building and land located at 283 Station St. Ajax to an arm's length third party for $1,765,000 on December 20, 2006. EWI will remain at the location and will lease a portion for office and lab space. While the sale proceeds will be used to repay mortgages and secured loans, annual operating costs, net of the new lease, will be reduced by over $200,000.

During the past three years, EWI has established solid working relationships and strategic alliances with key manufacturers that have allowed EWI to streamline operations and substantially reduce working capital and space requirements. EWI's present needs are limited to space for sales and marketing, service and technical support, design engineering and product testing and demonstration.

Fabrication is well under way for the recently announced order from Abbott Laboratories for the EWI FS-POD unit. The unit is a batch processor for the sterilization of effluents based on the company's patented microwave delivery system. It was designed to meet the needs of the wastewater sterilization market as a system small enough to fit under a laboratory countertop yet robust enough to sterilize the effluents from any Biological Safety Level (BSL) facility.

EWI has designed systems for the sterilization of medical waste, liquid waste and food waste as well as the treatment of several other organic waste streams including the breakdown of used tires. EWI continues to work on designs for other processors. Please visit EWI's home page at: www.ewmc.com.

WARNING: The Company relies upon litigation protection for "forward-looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Environmental Waste International Inc.
    Dr. Stephen Simms
    (905) 686-8689