The NuEarth Corporation Awarded First $650,000 AquaSolv Contract
MIRAMAR BEACH, Fla., April 30 /PRNewswire-FirstCall/ — NuEarth Corporation (Pink Sheets: NUEC) (“NuEarth”), a manufacturer and marketer of “Clean & Green” products and technology, today announced that it has received final approval on the first large scale contract for AquaSolv for a minimum of $650,000 in first year sales with Jasper Agro Development of Bolivia for the usage of the all-natural AquaSolv product line as a Pesticide Carrier and Adjuvant.
“This agreement is the first follow-on contract after the successful completion of the onsite laboratory and live field testing for the use of the all natural and biodegradable AquaSolv in the Americas as a pesticide carrier and adjuvant. Like all of our contracts, this is a multi-year sales agreement. Our contract with Jasper Agro Development has a minimum first year sales volume of $650,000 with subsequent four (4) years having a similar minimum order with inflation and operational cost increases built into the agreement. The total contract value is worth $3.25 million USD over five years,” said Alfon Rosalini, Senior Vice President of NuEarth.
The market for carrier oils and adjuvants in pesticide formulations is estimated by the USDA in excess of $160 million in the USA and more than $528 million worldwide. The use of carrier oils includes mineral oil, diesel oil and vegetable oils. The use of diesel oil and mineral oils, even at the relatively low levels used in agricultural applications, is a source of environmental and public concern. “If AquaSolv is capable of capturing 1% of the global market it would represent more than $6.88 million in annual sales for NuEarth Corporation in this Industry. Replacement of petroleum-based oils by AquaSolv is a potential growth market opportunity for NuEarth as petroleum oil prices continue to escalate, and petroleum contamination and poisoning remain a major health concern,” said Alfon Rosalini, Senior Vice-President of NuEarth.
In agricultural use, AquaSolv is readily biodegradable and low in toxicity to both humans and non-targeted wildlife, providing both a worker-safety and environmental advantage. “Support for use of AquaSolv over petroleum products should find wide favor, especially among farmers,” said Steve Young, CEO of NuEarth.
“Our Laboratory staff at TerraSolv have been field-testing AquaSolv, as a carrier for pesticide, under real world conditions over the last six months in South America and in Central America in cooperation with the Avalon Group with dramatic results,” said Steve Young, CEO of NuEarth. The use of AquaSolv has been proven to be a direct substitute for petroleum spay oils and surfactants. AquaSolv has also been proven to improve the efficiency of some pesticides in field trials.
TerraSolv is a state-of-the-art development and testing lab, which collects data from clients around the world to run projects simulations ranging from usability, capacity, spread and weather modeling testing. The heart of the laboratory is a 160-gigabyte database of environmental and agricultural project records running on six HP servers and two Novell servers storing the data and running the modeling software.
NuEarth Corporation is a company dedicated to bringing to market “Clean Solutions to Complex Problems” by offering a wide range of biodegradable, environmentally friendly products and technologies that will substitute for many of the hazardous chemicals commonly used all over the world. For information about NuEarth Corporation and its product offerings visit us on the web at www.nuearthcorp.com
This press release contains forward-looking statements regarding NuEarth Corporation within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management’s current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting NuEarth Corporation. Forward-looking statements speak only as of the date on which they are made and NuEarth Corporation undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.
Investor relations contact: c/o: Alfon Rosalini 866-311-6373 Alfon.firstname.lastname@example.org
SOURCE NuEarth Corporation