HOUSTON - January 7, 2014 (Investorideas.com Newswire) HII Technologies, Inc. (the "Company"), symbol HIIT (OTCBB/OTCQB: HIIT), an oilfield services company headquartered in Houston, Texas, with operations in Texas, Oklahoma, Ohio and West Virginia, announced today that its wholly-owned subsidiary AES Water Solutions ("AES"), has entered into a strategic alliance agreement with Resource West, Inc. ("RWI"), a Colorado based designer, manufacturer and provider of modular above-ground storage tanks and onsite wastewater evaporation units. This agreement was formed to broaden and enhance the overall services of AES by offering rapid deployment water storage tanks and flow back/wastewater disposal systems to customers actively seeking comprehensive water management services and cost reduction systems.
AES will purchase or lease various sizes of RWI's Commander Series Above Ground Water Storage Tanks and will provide and supply the required servicing to the tanks, which will be rented out to AES customers on a day-rate or multi-month contract basis. RWI has provided AES an exclusive arrangement for distribution and usage of these large scale rapid deployment tanks in Texas and Oklahoma and AES has agreed to exclusively utilize RWI for supply of these tanks in Texas and Oklahoma.
AES Water Solutions will also purchase RWI's Landshark Wastewater Evaporator Units and its associated equipment package. The Landshark Wastewater Evaporator units are able to operate at flow rates of 110 gallons per minute (gpm), per system, distributing frac flow back and produced water from holding ponds and other water retention facilities through high volume spraying units. The application of evaporating the wastewater onsite is usually in connection with customers leaving a site where there is no need to reuse the remaining wastewater. Onsite accelerated evaporation allows oilfield customers to reduce or eliminate the higher cost of trucking and disposal of their onsite remaining unwanted liquids.
RWI's equipment and systems will enable AES to provide modular on-site water storage tanks and an operation to minimize wastewater disposal for its clients' well site operations which allows AES to address the varying needs of its customers when alternatives such as large open pits are not applicable or cost prohibitive.
Mr. Brent Mulliniks, President of AES Water Solutions, stated, "The Resource West alliance is strategic for our firm, enabling us to expand our service offering by immediately providing assembled above ground tanks in a few hours set up time for our customers with the necessary storage facilities for fresh and recycled water used during fracing. AES's ability to recycle or evaporate the flow back wastewater, on or near the drill site, significantly reduces the cost of transporting, disposing and purchasing of new fresh water." Mr. Mulliniks also stated, "We believe RWI's technologies and equipment provides an advantage for AES in the Texas and Oklahoma markets where we operate by providing a lower cost alternative for customers in respect of their wastewater disposal needs."
Mr. Jack Hays, CEO of Resource West stated, "AES' focus in the Texas and Oklahoma markets gives our technology and equipment access into some of the most active oilfield areas in the domestic United States where we have not previously had a major presence. We look forward to the AES relationship in these key markets, building value in both our companies."
About HII Technologies, Inc.
HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. The Company is positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays by deploying new oilfield related technologies to enhance the value of services it offers its customers. The Company's frac water supply services subsidiary does business as AES Water Solutions, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary does business as South Texas Power (STP). The holding company, HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESwatersolutions.com and www.Oilfield-Generators.com.
About Resource West
Since 2006, Resource West has served the Oil and Gas, Mining, Power Plant, Chemical and Municipal Wastewater industries with their proven technology and equipment in evaporation, modular above ground tankage and ventilation systems. Resource West serves specific needs to the Oil and Gas Industry with the latest technology, innovative products and finding solutions to lower cost and improved productivity. RWI provides modular above ground storage tanks which can be set up in one day, easy to transfer and provides an environmentally responsible containment solution. Their evaporator technology provides in-pond and on-shore equipment, located in 26 states and 11 countries, helps in eliminating unwanted water quickly and efficiently. RWI has a history of unparalleled support, safety and expert service in an efficient and effective way. Read more at www.resourcewest.net
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements as to matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on HII's current expectations, estimates and projections about HII, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding estimated capital expenditures, future operational and activity expectations, international growth, and anticipated financial performance in 2013. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.
Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that HII will be unable to achieve its financial, capital expenditure and operational projections, including quarterly and annual projections of revenue and/or operating income and risks that HII's expectations regarding future activity levels, customer demand, and pricing stability may not materialize (whether for HII as a whole or for geographic regions and/or business segments individually); risks that fundamentals in the U.S. oil and gas markets may not yield anticipated future growth in HII's businesses, or could further deteriorate or worsen from the recent market declines, and/or that HII could experience further unexpected declines in activity and demand for its hydraulic frac related water transfer business, its safety consultancy business or its generator and related equipment rental service businesses; risks relating to HII's ability to implement technological developments and enhancements; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks that HII may be unable to achieve the benefits expected from acquisition and disposition transactions, and risks associated with integration of the acquired operations into HII's operations; risks, in responding to changing or declining market conditions, that HII may not be able to reduce, and could even experience increases in, the costs of labor, fuel, equipment and supplies employed and used in HII's businesses; risks relating to changes in the demand for or the price of oil and natural gas; risks that HII may not be able to execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting HII's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.
Because such statements involve risks and uncertainties, many of which are outside of HII's control, HII's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect HII's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, HII also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that HII files periodically with the Securities and Exchange Commission.
Matthew Flemming, HII Technologies, Inc. +1-713-821-3157.
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HIIT disclosure: March 2013: two thousand per month for profile and news publication, renewed August 2013: five hundred per month for news publication
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