BioSafe expands licensing agreement for its medical waste treatment technology in Europe.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 2, 1996--BioSafe International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BSFE BSFE Bureau of Surveillance and Field Epidemiology ), an innovative waste management company, announced that it has signed an agreement with ScotSafe Ltd., a Glasgow, Scotland company, for the exclusive licensing rights to use BioSafe's patented medical waste treatment technology throughout Europe. This agreement represents an expansion of BioSafe's existing licensing agreement with ScotSafe covering the British Isles British Isles: see Great Britain; Ireland. and Ireland. Philip Strauss, BioSafe's chairman, president, and Chief Executive Officer, said, "Under our expanded agreement with ScotSafe, BioSafe expects to generate additional revenues of approximately $5 million through the year 2000." BioSafe has already generated approximately $900,000 in revenues from its agreement with ScotSafe. ScotSafe, a full-service medical waste management firm, currently operates three facilities -- in Arbroath, Scotland; Newcastle, England; and Cork, Ireland Cork, Ireland is a term which may refer to the following places in southern Ireland, depending on context.
the act of burning to ashes. . According to Strauss, "BioSafe's CFA technology uses moderate heat to treat medical waste, and it is a proven method for rendering the medical waste microbiologically inert and physically unusable and unrecognizable." Strauss said, "The demonstrated success of BioSafe's medical waste treatment technology in the British Isles and Ireland and the enthusiastic acceptance of this nonburn technology in Europe promise a profitable future for our expanded agreement with ScotSafe." While BioSafe continues its efforts to market its CFA medical waste treatment technology, the company is focusing on its primary business of landfill remodelling and landfill operations. Landfill remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling involves recycling a landfill, and BioSafe has received the U.S. patent for this innovative process. During a landfill remodeling project, BioSafe can recover up to 80 percent of the previously used space at the landfill, while converting the landfill into an environmentally sound facility with liners and leachate leach·ate n. A product or solution formed by leaching, especially a solution containing contaminants picked up through the leaching of soil. collection systems. BioSafe then generates revenue from the receipt of tipping fees for disposal in the newly created space. BioSafe currently operates landfills in Moretown, Vt. and Fairhaven, Mass. At Fairhaven, BioSafe is undertaking the world's largest landfill remodeling project. In recognition of BioSafe's preeminence in landfill remodeling, the Massachusetts Towns of Buckland and South Hadley have awarded BioSafe contracts to undertake landfill remodeling projects at their municipal landfills. BioSafe is also investigating the acquisition of hauling operations and transfer stations to complement its current waste management activities. CONTACT: BioSafe International, Inc. Bob Rivkin, 617/497-4500 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion