Ecosphere Technologies, Inc., a diversified water engineering and environmental services company, today publicly projected record revenues for year 2010. The company expects revenues to exceed $20 million, a ten-fold plus increase over projected 2009 revenues.
Adrian Goldfarb, Ecosphere CFO, stated, “Ecosphere has made a remarkable turnaround in its ability to not only develop outstanding technology, but now to capture and increase market share in the natural gas industry. I am very comfortable with the increase in revenues projected for 2010 as a significant portion is based upon signed and guaranteed contracts with major energy companies.”
Dennis McGuire, CEO of Ecosphere Technologies (ETI), commented, “I am very gratified that our hard work and technology innovations for the natural gas industry are being so well accepted by the energy companies and that is reflected in the revenue projections we see coming in 2010. The need for our recycling equipment is growing exponentially as natural gas fracturing expands nationwide and the use of water creates governmental and citizen concerns about chemicals used in the process and its disposal. Our total water recycling process eliminates that issue for energy companies.”
McGuire added, “Our business model gives us the flexibility to work with our customers in the way they prefer doing business while giving us the ability to sell, license or provide services to the industry. It is being well received by our customers as each of the companies have a preference for how they want to handle their water issues and do business with their vendors.”