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TWST: We would like to begin with a brief historical sketch of the company and a
picture of the things you are doing at the present time.
Mr. Kasmoch: The company was founded from the concept of utilizing waste by-
products from the cement industry, primarily cement kiln dust. The company
worked with using these materials in a road base, road surface type application,
and moved forward realizing that mixing municipal biosolids with these waste
cement kiln products caused a very unique reaction and achieved disinfection and
stabilization of municipal biosolids. That technology was perfected in
conjunction with the Medical College of Ohio. That propelled the company into
going public in an IPO in 1993 and the company operated under a business model
that would license its technology to operators or municipalities and exist on a
premise of royalty and tonnage type tip fees for its existence. There was some
support in that business model in the early 1990s. The EPA had issued what's
known today as the 503 regulations, which are the sludge biosolids regulations
handed down by the federal EPA. I can't honestly tell you why or what, because
it was before my time, but the business model struggled. When I came into the
company two years ago, it was my vision that this was to become an operations
company that needed to utilize its technology from an operational standpoint. In
other words, we needed to own our facilities, operate our facilities and control
our destiny. The technology developed through the late 1990s and early 2000s has
led to additional patent issues principally through the efforts of Dr. Terry
Logan, who remains engaged with the company. One of the technologies was a dryer
technology, which utilized some form of waste heat or natural gas to further
enhance the product and to evolve our product to produce a more valuable, finer,
granular-type fertilizer product. This technology morphs into today what we feel
is our primary focus, so to speak, by creating a dry coal-like fuel substitute
product that could be burned in a power plant for electric generation.
Tickers included in this excerpt: NVIC
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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