SSWM Mexico Subsidiary and Perla Capital Group Team Up
CARLSBAD, Calif. - Sub-Surface Waste Management of Delaware, Inc. has announced that its Mexico subsidiary company Environmental Tec International, has signed a financing agreement with Perla Capital Group to act as the company’s exclusive Financial Advisor in connection with a best efforts convertible debt and/or equity financing up to $7,000,000 for sales growth and related working capital for environmental cleanup and infrastructure projects in Mexico, and Central and South America.
Bruce Beattie, CEO, commented, “Our strategic plan for business south of the border is maturing as we recognize additional environmental service opportunities in both the governmental and commercial sectors. Our initial foray into Mexico project work was a very successful $1.5MM job for an American manufacturer operating a maqiladora with underground contamination. This project successfully demonstrated our ability to meet cleanup requirements promulgated under the new environmental laws of Mexico and gave us a very good reputation with governmental officials searching for cost effective environmental solutions"
Beattie continued, “Our next step was to contract directly with governmental entities including the State of Puebla and also with the electric utility for federal work. Contracted government business is now over $10MM and our contract procurement business model is working well in the Public sector through strategic teaming with the Autonomous Universities system in Mexico to facilitate technology transfer and job creation"
Beattie further said, “Following on our successful efforts in the government sector, we are now pursuing contracts with commercial sector clients representing a much larger base of work opportunity as Mexico continues to refine and adopt US environmental regulations to toxics as part of compliance with the NAFTA Treaty. These commercial projects require a different financial strategy and our Financial Advisor is helping us identify global investor candidates and advising with the structure, terms and negotiation of the financing as a direct investment into ETI for future growth in both commercial and governmental accounts in a larger geographical region.”
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