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COVENANT ENVIRONMENTAL BEGINS PRODUCTION OF MOBILE RETORT RECYCLING SYSTEM

 COVENANT ENVIRONMENTAL BEGINS PRODUCTION
 OF MOBILE RETORT RECYCLING SYSTEM
 MEMPHIS, Tenn., June 17 /PRNewswire/ -- Covenant Environmental Technologies, Inc. (NASDAQ: CVEM) has completed testing of its first mobile Bold-Ark mobile retort unit and has begun production of the system, Hal Millsap III, president and chief executive officer, announced today.
 The MRU, 10 years in development, reclaims and recycles used rubber tires, plastic material, and non-hazardous oilfield waste, reducing them to commercially valuable carboneus products. It is designed to be transported to and operated at the clean-up site.
 On March 20, Covenant completed a license and supply agreement with its domestic distributor, Consolidated Environmental Services of Memphis, under which Consolidated obligated itself to purchase at least eight MRUs for $8.2 million in 1992 and another 15 a year for at least $15.7 million after that. Covenant is also negotiating with potential distributors for Europe, and for Canada and the Pacific Rim.
 -0- 6/17/92
 /CONTACT: Linda Moore, vice president of Covenant Environmental Technologies, 901-794-1392/
 (CVEM) CO: Covenant Environmental Technologies Inc. ST: Tennessee IN: SU:


CK-TS -- NY041 -- 1063 06/17/92 11:58 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:184
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