DENVER, CO--(Marketwired - Feb 6, 2014) - Strategic Environmental & Energy Resources, Inc. (SEER) (PINKSHEETS: SENR), a leading provider of products and services to the renewable energy, waste management and natural resource industries, today announced it closed a private placement of equity securities to accredited investors. The Company has received $3.8 million to date with an additional $0.2 million committed. Proceeds of this capital infusion will primarily be used to fund imminent growth opportunities for the Company's technology divisions and for general working capital purposes.
"The Company is now well capitalized to support the rapidly increasing interest in its H2SPlus™ systems for landfill biogas and renewable energy applications -- now also offered under its newly launched 'Nothing but Net' leasing program. This program received a very positive reception at the recent EPA Landfill Methane Outreach Program Conference in Baltimore, MD," said John Combs, Chairman and CEO of SEER.
SEER is also in the process of completing the manufacture of five new Paragon CoronaLux™ waste destruction units this quarter to fulfill anticipated demand resulting from immediate and positive market response to its initial product launch initiatives.
"In addition to strengthening our balance sheet, this capital infusion enables us to advance various product and service offerings across all divisions and, most important, to accelerate the development and rollout of our patent-pending CoronaLux™ systems into the medical waste and oil and gas markets. Based on recent field results and customer feedback, we continue to believe Paragon's innovative technology is the safest, most cost-effective means available today of destroying hazardous medical, chemical and biological waste," said Combs.
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) is a leading provider of products and services to the, renewable energy, oil and gas E&P and refining, and waste management industries. The Company has three wholly-owned operating subsidiaries: REGS, LLC; Tactical Cleaning Company, LLC; MV Technologies, LLC; and a majority-owned subsidiary, Paragon Waste Solutions, LLC.
For more information about the Company visit: www.seer-corp.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates," and other terms with similar meaning. Specifically, statements about demand for, and effectiveness of, the Company's products and services; plans to manufacture five CoronaLux™ systems; plans to advance product and service offerings and accelerate development and rollout of CoronaLux™ are forward looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.