SOURCE: N.E.I. Treatment Systems

N.E.I. Treatment Systems

January 27, 2011 04:00 ET

N.E.I. Treatment Systems Announces Completion of Round of Equity Financing and New Board of Directors Appointment

LOS ANGELES, CA--(Marketwire - January 27, 2011) - N.E.I. Treatment Systems, LLC, a global market leader in Ballast Water Treatment Systems (BWTS) for the maritime industry, announced today that the Company has successfully completed a private round of equity financing. The financing, which was substantially oversubscribed by N.E.I.'s existing and new investors, provides the Company with sufficient working capital to fund global expansion of operations and marketing efforts. 

The Company also announced the appointment of Mr. Don Morissette to its Board of Directors, who has joined N.E.I. as a new partner following an investment in the Company. Mr. Morissette, President and CEO of DMH Holdings, has built a successful home building, land development and private investment business in Oregon and has over 35 years of experience as a respected leader in the private and public sectors.

Commenting on the announcement, N.E.I. CEO Jon Slangerup said: "We are very grateful to our partners and investors who continue to place such great confidence in our Company, including Don Morissette, who brings to our Board a wealth of leadership and practical experience in growing successful businesses. This latest investment in our future ensures that we can continue to compete strongly with our Venturi Oxygen Stripping™ (VOS) System in the rapidly emerging Ballast Water Treatment Systems marketplace." 

About N.E.I. Treatment Systems

Established in 1997, N.E.I. is a California-based private company and a global market leader in Ballast Water Treatment Systems (BWTS) solutions. The Company manufactures and markets its patented and type-approved Venturi Oxygen Stripping™ (VOS) BWTS solutions through an exclusive network of licensee, sales and service partnerships in fifteen countries around the world. VOS™ fully complies with pending IMO and USCG Ballast Water Management regulations which eliminate invasive aquatic organisms transported via ships' ballast tanks. VOS™ is unique among competing BWTS solutions because it does not use chemicals (active substances) to satisfy ballast water management discharge standards. Instead, VOS™ uses deoxygenation and cavitation technology to create a low-oxygen environment within ships' ballast tanks, which safely eliminates invasive species while simultaneously reducing rust and corrosion of steel and tank coatings, thereby saving millions of dollars in ballast tank maintenance costs. For more information about VOS™ ballast water management solutions, please visit N.E.I. at www.nei-marine.com.

Contact Information

  • Media Contact
    Tomoko Park-Kurose
    Phone +1-213-383-5855
    Email Contact