HII Technologies, Inc. (the "Company"), symbol 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. By focusing in the Water, Power and Safety oilfield segments, 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. The Company's frac water supply and flow back services segment has two subsidiaries, AES Water Solutions and AquaTex, 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). 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
Hii Technologies, Inc. (HIITQ) Stock Research Links
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