For Immediate Release

Contact:
Monica Sutton
suttonm@eetcorp.com
June 23, 2003

EET Corporation Announces Relocation

Knoxville, Tenn.- EET Corporation is relocating its corporate headquarters from Knoxville to Roane County in a move that could create up to 150 new jobs over the next decade.

The company has purchased the former Dagger Canoe and Kayak Co. manufacturing plant in Midtown to house its corporate headquarters, waste management consulting services, and manufacturing operations. The 77,000 square foot facility will also accommodate the new EET Antifreeze Recycling Facility.

EET Corporation President and CEO Louie Sferrazza wants to reassure the residents of Roane County that EET is dedicated to protecting the local environment while providing needed economic investment in the community.

“The design of EET’s recycling facility far exceeds the safety requirements of all state and federal environmental regulations,” he said. “We are committed to protecting the environment. The positive environmental and economic effects of recycling non-renewable resources and providing technology to clean contaminated water and other liquids will be enormous.”

The state-of-the-art facility will be the largest antifreeze recycling operation in the Southeast, capable of processing over 300,000 gallons of used antifreeze per month. Production is expected to begin in fall 2003.

The plant will utilize EET’s patented recycling process, based on the most advanced and environmentally friendly technology available. The process does not generate any hazardous waste or byproducts. Strict spill containment and other engineering controls will prevent the used antifreeze from polluting ground or surface waters near the site.

The antifreeze facility will provide an environmentally safe and economical outlet for regional used antifreeze collectors that previously had to ship the material to Indiana or Texas. EET will recycle the used coolant into quality, low-cost antifreeze products, indistinguishable from new, for sale to distributors.

EET does not plan to offer residential antifreeze collection or recycling services at the site. County residents should not bring used antifreeze from their households to the facility.

The facility will also house EET’s manufacturing and waste management consulting services. The company plans to manufacture a variety of liquid treatment systems, including its patents-pending High Efficiency Electrodialysis (HEED™) technology, and reverse osmosis and nanofiltration systems. The company offers a variety of multi-stage systems for niche liquid treatment and recycling applications.

Sferrazza, who has more than 25 years of technical and managerial experience in the environmental and nuclear fields, holds several patents related to solid and liquid waste treatment technology. Over the past decade, he has focused on the development of liquid and solid waste treatment technologies with an emphasis on electrodialysis-based liquid recycling.

EET Liquid Technology and Services Director Ernst Schmidt, known as an industry authority on coolant recycling, has been tremendously influential since entering the antifreeze recycling field in 1988. He has directly managed the development of important recycling technologies and overseen the safe and effective processing of over 20 million gallons of antifreeze.

EET, based in Knoxville, Tenn., has provided waste management technologies and services since 1990. In 1997, it ranked as the 222nd fastest growing privately held company in the nation.

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