Basin to Install Three Small-Scale Uranium Removal Systems in New Hampshire Condominium Developments
08 Julho 2008 - 6:15PM
Business Wire
Basin Water, Inc. (NASDAQ:BWTR) announced today that it will
install small-scale uranium removal systems treating groundwater
wells for three private condominium developments in New Hampshire.
The first installation, for the Saco Woods Condominium Association
in North Conway, NH, has just come on-line and is operating
successfully. The second, for Davis Hill Condominiums in Center,
NH, is planned for start-up in mid-July. The third project, for the
Saco Forest Condominiums, has had a successful validation study,
and a treatment system is currently being constructed for a planned
start-up date in August. These projects represent the first
activity for Basin Water in its new Northeast region. They are also
the first installations that feature Basin Water�s newly acquired
technology for smaller flow applications. These small-scale
systems, which are designed and built at the Company�s facilities
in Memphis, TN, represent a new answer for real estate developers,
institutions, commercial entities and private water utilities
struggling to achieve compliance with increasingly stringent
regulations. According to Michael Stark, President and Chief
Executive Officer of Basin Water, these contracts are a sign of
progress in the Company�s planned geographical expansion that was
put into motion in mid-2007. �In a relatively short time, Basin
Water is beginning to see success in gaining footholds in the new
geographical regions we have entered,� Stark said. �In the process,
we�ve not only had sales successes but technological successes as
well. These small-scale systems provide an efficient solution for
small drinking water utilities, a market segment that we feel is
not well-served currently and which is quite large. As with all
Basin Water installations, these systems combine design and
operational efficiencies to produce low lifecycle cost, along with
a water services agreement that assures long-term, trouble-free
operation. We can now deliver Basin Water�s guaranteed performance
on a much smaller scale to communities that need this help,� he
added. The Saco Woods Condominiums� treatment system features
vessels containing uranium-selective ion exchange resin. It
currently serves 240 connections and has been designed for flow
rates of 43 thousand gallons per day (30 gallons per minute). The
Basin Water system is treating groundwater with uranium levels of
around 60 micrograms per liter (ug/L) down to non-detectable
levels. The U.S. EPA has set the maximum contaminant level (MCL)
for uranium in drinking water at 30 ug/L. The compact Basin Water
treatment system at this site is housed in the utility�s existing
well house. The agreement between Basin Water and Saco Woods covers
the sale of the equipment as well as assistance with the disposal
of depleted media as necessary. Assistance with system design,
installation and testing was performed on Saco Woods� behalf by
Northeast Engineering of Weare, NH. Uranium is a naturally
occurring radioactive element found in rocks, soil and groundwater
that breaks down (decays) very slowly into other elements such as
radium and radon gas. It is present in many areas throughout the
USA and Canada, as well as other parts of the world. The presence
of radionuclides � which include uranium, radium-226 and radium-228
� in drinking water has been linked to a number of deleterious
effects on human health. Basin Water has uranium treatment systems
installed for well flows ranging from 30 gpm to 1,000 gpm.
According to David Caton, Director of Business Development,
Northeast and Southeast Regions, Basin Water�s technology and
business model represent a straightforward solution for real estate
developers and small utilities that are finding it difficult to
deal with increasingly stringent water quality regulations. �Since
radionuclide MCLs were adopted by the EPA in 2000, it has become a
national problem for smaller systems to comply with the new
regulations. Meeting these regulations cost effectively requires a
range of different types of expertise that are not available to a
small water system,� he said. �Basin Water brings treatment
technology, engineering and waste disposal expertise together in a
cost-effective package that guarantees performance and costs. When
you factor in the speed with which we can implement a treatment
system like this � sometimes as fast as 90 days � we feel like we
have the best solution for delivering �worry-free water� to small
water providers on the market today,� he added. About Basin Water
Basin Water, Inc. is a provider of reliable, long-term process
solutions for a range of clients, which includes designing,
building and implementing systems for the treatment of contaminated
groundwater, the treatment of wastewater, waste reduction and
resource recovery. Basin Water employs treatment technologies
including its own proprietary, scalable ion-exchange wellhead
treatment system, along with a host of other treatment technologies
designed to meet customer needs in an efficient, flexible and
cost-effective manner. Additional information may be found on the
Company's web site: www.basinwater.com. Forward Looking Statements
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements, including expectations relating to future
revenues and income, the Company's ability to gain new business and
control costs, involve risks and uncertainties, as well as
assumptions that, if they prove incorrect or never materialize,
could cause the results of the Company to differ materially from
those expressed or implied by such forward-looking statements.
Actual results may differ materially from these expectations due to
various risks and uncertainties, including: the Company's limited
operating history, significant operating losses associated with
certain of the Company's contracts, the Company's ability to
identify and consummate other acquisition opportunities that
improve the Company's revenues and profitability, significant
fluctuations in its revenues from period to period, its ability to
effectively manage its growth, the success of the Company's
strategic partners, its long sales cycles, market acceptance of its
technology, the geographic concentration of its operations and
customers, its ability to meet customer demands and compete
technologically, the Company's ability to protect its intellectual
property, regulatory approvals of the Company's systems, changes in
governmental regulation that may affect the water industry,
particularly with respect to environmental laws, the Company's
ability to attract and retain qualified personnel and management
members, the Company's ability to manage its capital to meet future
liquidity needs, changes in the Company�s management and board of
directors and the timing of the Company's stock repurchases, if
any. More detailed information about these risks and uncertainties
are contained in the Company's filings with the Securities and
Exchange Commission, including the Company's Annual Report on Form
10-K for the year ended December 31, 2007 and subsequent Quarterly
Reports on Form 10-Q. The Company assumes no obligation to update
these forward-looking statements to reflect any change in future
events.
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