PITTSBURGH, Nov. 29, 2010 /PRNewswire-FirstCall/ -- NuEarth
Corporation (Pink Sheets: NUEC) ("NuEarth"), a manufacturer and
marketer of "Clean & Green" products and technology, today
announced that the company's Laboratory and Research Division
"TerraSolv SA" has received final approval for another long term
contract representing an additional $750,000 laboratory service contract with the
Laboratorio Internazionale Agricoltura, S/p/A ("LIA") of
Italy.
The continuation of our JV Agreement with Laboratorio
Internazionale Agricoltura, S/p/A ("LIA") of Italy brings another new laboratory project to
TerraSolv. This project is valued currently at more than
$750,000 over the three-month work
schedule starting in January 2011.
However, the contract has provisions that could triple the
final contract value to more than $2 million
USD over the 12 month life cycle of the contract. "Our
state-of-the-art environmental and agricultural modeling programs
were critical in the establishment of this long-term relationship;
as they provide our clients with real-world data in a real-world
setting. We've seen incredible value from the lab. We're
taking more risk out of the system, putting more structure into it,
suffering less downtime and delivering higher-quality services,"
said Levi Modelevi - CEO of NuEarth Corporation, the parent of
TerraSolv SA. The TerraSolv SA Laboratory has generated more
than $33.2 million over its 3-year
existence -- mostly due to the joint venture with Laboratorio
Internazionale Agricoltura, S/p/A.
The joint venture will continue to utilize the TerraSolv SA
state-of-the-art development and testing lab currently being
relocated to the United States of
America. This data center collects data from clients
around the world to run projects ranging from usability, capacity,
spread and weather modeling and performance testing. The
heart of the laboratory is a 325-gigabyte database of environmental
and agricultural project records running on six HP servers and two
Novell servers storing the data and running the software being
tested.
NuEarth is a company dedicated to bringing to market "Clean
Solutions to Complex Problems" by offering a wide range of
biodegradable, environmentally friendly products and technologies
that will substitute for many of the hazardous chemicals commonly
used all over the world. For information about NuEarth and
its product offerings visit us on the web at
www.nuearthcorp.com.
This press release contains forward-looking statements regarding
NuEarth within the meaning of Section 27A of the Securities Act of
1933 as amended, as such, may involve risks and uncertainties. Such
statements are based on management's current expectations and
cannot be guaranteed. The forward-looking statements
discussed in this release may not occur and actual results could
differ materially as a result of known and unknown risk factors
affecting NuEarth. Forward-looking statements speak only as
of the date on which they are made and NuEarth undertakes no
obligation to publicly revise any forward-looking statement based
on the result of new information, future events, or otherwise.
Investor relation
contact:
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c/o: Alfon
Rosalini
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866-311-6373
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Alfon.rosalini@nuearthcorp.com
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SOURCE NuEarth Corporation