Intrepid Technology and Resources, Inc. (ITRP.OB) Closes on First Full Week of Revenues and Product DeliveriesTuesday, June 3rd, 2008
Intrepid Technology and Resources, Inc. (OTCBB: ITRP) announced the completion of the first full week of sustained product deliveries and revenues. Intrepid is a biofuel renewable and alternative energy development and operating company that works together with their subsidiaries in the United States. The company engages in projects in the biofuels production and distribution area of the renewable energy sector. Their focus is on the production of biofuels, such as biogas, biodiesel, ethanol, and hydrogen, as produced from biomass.
Commenting on the company’s accomplishment was CEO Jack Haffey, “It has taken a long time and has understandably taxed the patience of our shareholders, but we are very pleased and excited to report that we have just completed our first week of combined uninterrupted deliveries of high quality gas and horticultural fiber to our customers — and, importantly, our first full week of revenue generation.
“What makes this first full week of multiple product delivery so important to our stakeholders is that we are beginning to break the entry barriers on a heretofore non-existent market and are now on a revenue track that will make the company cash flow neutral somewhere in the last calendar quarter of this year. With both plants fully revenue engaged and at current contracted prices Intrepid will generate revenues at a monthly rate of 70,000 dollars for gas sales, 140,000 for fiber and an annual rate of 250,000 for carbon credits by the end of this year,” Mr. Haffey added.
Large energy corporations and private equity firms have taken notice to Interpid’s product deliveries and “proof of concept” demonstrations. These corporations and firms constantly look for opportunities like Intrepid to become involved in renewable commodities sector.
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