SET Corp

November 03, 2011 08:30 ET

ProWater Begins Manufacturing Centerline SWD™Saltwater Disposal Systems for Bakken Shale

DENVER, CO--(Marketwire - Nov 3, 2011) - ProWater, a wholly owned subsidiary of Sustainable Environmental Technology Corp (SET Corp) (OTCQB: SETS) (PINKSHEETS: SETS), has begun manufacturing its proprietary Centerline SWD™ systems that utilize green technology to efficiently separate and dispose of oil, water and other by-products associated with oil and gas production. ProWater and its supplier partners expect to deliver the first SWD system for use in the Bakken Shale in North Dakota by the end of January 2012, with set-up to be completed by March 2012 (See related release "GE to Supply Key Components for ProWater's Centerline SWD ™ Saltwater Disposal Well System").

With the advantage of full-capacity manufacturing and construction capabilities year round, ProWater will design, build and operate three additional leased wells scheduled to be completed in June, September and November 2012, respectively. Three more are slated for 2013, bringing the total to seven in the North Dakota Bakken Shale. Pending demand, more systems may be manufactured.

By April 2014, the ProWater division expects to have accumulated a projected gross profit of $17.5 million. By December 2015, ProWater projects gross profit of $30.8 million, with gross profit growing $15 million per year for North Dakota operations alone as the seven Centerline SWD systems ramp up toward full capacity.

ProWater's three-pronged separation approach enables it to derive revenue and safely dispose of the remaining components by selling oil to refiners and providing processed water for use in hydraulic fracturing or water injection. Applied to approved formations, this re-used water is injected thousands of feet below potential ground water zones.

ProWater's Centerline SWD™ systems utilize Class II deep disposal wells that are recognized as one of the safest disposal methods for produced water. Centerline SWD's redundant safety controls and tamper-resistant features are designed to prevent risk to the environment even in the event of a small number of simultaneous, separate integrity failures. With the Environmental Protection Agency (EPA) and other regulatory agencies set to release new national standards for the disposal of produced water generated from shale formations, each Centerline SWD™ facility contains a complex safety system with a series of redundant controls that exceed local, state and federal requirements. The system is designed in such a way that if even one safety abnormality occurs, the facility immediately and automatically issues alerts to multiple predetermined personnel and shuts down, prohibiting further water from being taken into the facility or pumped down hole until the safety issue is resolved.

ProWater's Centerline SWD™ system intelligently combines highly efficient process controls with best in class technologies and inserts them into a portable modular design. The Centerline SWD™ system utilizes a horizontal surface pumping system (SPS) featuring a directly coupled, multistage centrifugal pump that is uniquely designed for high pressure, low to medium flow and environmentally sensitive applications. The SPS pump has low maintenance requirements, a long run-life and can be easily modified in the field. The addition of variable speed drives and logic control systems lower operating costs and improve reliability, while providing intelligent monitoring and control capabilities.

About SET Corp

Sustainable Environmental Technologies Corp (SET Corp), through its ProWater, LLC subsidiary and other divisions, is acquiring, developing and marketing strategic technologies that responsibly and economically solve environmental issues to bridge the gap between today's energy inefficient facilities and the sustainable development and design needs of tomorrow. SET Corp's technologies deliver essential resources for business operations while reducing their customers' environmental impact and conserving essential and diminishing resources. SET Corp's offering includes treatment, recovery, reclamation and re-injection services for produced water from oil and gas production and ultra-efficient tri-gen systems that offer combined cooling, heating, and power generation with the added capability of water production from a single energy source. Ticker: OTCQB: SETS,

Safe harbor statement
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategies. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, and fraud. More information about factors that potentially could affect SET Corp's financial results are included in SET Corp's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-Q or 10-K and subsequent filings.

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