Vista International Technologies Wall Street Analyst Forum Transcript

Mar.26.08 | About: Vista International (VVIT)

Vista International Technologies (OTCPK:VVIT) Wall Street Analyst Forum Presentation March 26, 2008 9:10 AM ET

Executives

Johan Smith – Chairman of the Board

Timothy Peach – Chief Financial Officer

Facilitator

I’d like to introduce the first company in this morning’s program. I guess in 60 seconds or less, just to give you my own consumer insight, in my own life I was doing nothing a year ago really in this area. In the last six months I’ve dumped by SUV, I dumped my two-seater sports car, I’m driving a Toyota Prius. I’m on the Hymotion website. In the next 90 days Hymotion will have an aftermarket product for Toyota Prius owners to have a plug-in hybrid capability. Hymotion is owned by that company, A123, out of Cambridge and I plan on being one of the first to have the new lithium ion plug-in hybrid technology and go from 45 miles per gallon to 125 miles a gallon. It will be on the market in the next 60 days and thousands of us Prius owners are going to be switching to that. We’ll be waiting for them in 2010 or 2011 to come out with an OEM product to come out with a lithium ion battery, 125 miles per gallon, I plan on being one of those having the aftermarket product in the next 90 days.

I switched my house and my second home to the new lighting technology reducing my electricity costs by 75%. I have a solar heating system being put on the side of my house, a space heater by a company called YourSolarHomes.com. Check out their website, it will heat about 1,000 square feet of my house for 25 years for free. I have a hot water solar heater being put in my house in the next 90 days. The federal government is paying $2,000 of the $7,500 cost; my state government is paying $1,500; it will cost me $4,000 out of pocket and it will pay for itself within four years.

I did none of that a year ago. I’ve either done that or will have done all that in the next six months. I’m just one consumer. I couldn’t help but to tell you that. I’m excited about every piece of it. I’ll never go back to a combustion engine again, a traditional one.

Having said that, I’d like to introduce the first company in this morning’s program, a company I’ve known for a long time. I sort of knew them when nobody knew them several years ago, they presented with us about four or five years ago for the first time and a lot has happened for them and a lot has happened in their industry since then.

Vista International is an established renewable energy company that is now entering a high growth phase. To date the company has been a leader in the field of gasification with multiple installations around the globe over the past two decades. Management has brought new life to an ailing company and now the pieces are in place for the company to expand and meet the growing needs of our society. Their renewable technologies are energy efficient, are cost effective without the need for government subsidies although I’ve been glad to get them on my side.

The company Vista is now in a position to fully commercialize their best-in-class technologies to assist customers around the world in reducing the carbon footprint one step at a time. So, without any further introduction I’ll introduce Johan Smith, Chairman of the company, and Timothy Peach, Chief Financial Officer.

Timothy Peach

Good morning and thank you. It’s a pleasure being here this morning. As Jerry said we’ve been here on occasion before, most recently last August under a different name and currently we have our name Vista International Technologies, Inc. a new ticker symbol VVIT. And as Jerry mentioned, our objective is to reduce the global carbon footprint one step at a time.

Who are we? Vista International Technologies is a leader in gasification technology. We have over 25 years experience in the field of gasification technologies with 30 different installations that have been in place on a worldwide basis. It’s a division of Vista International, Inc. which is a new majority shareholder of Vista International Technologies. Vista International, Inc. provides us with some additional renewable energy technologies which we expect to integrate synergistically with the gasification technology and that will be discussed in a little bit here during the latter part of the presentation.

Vista International is also engaged in a tremendous sales and marketing, business development campaign on an international basis which brings us the opportunity to say that in our project pipeline potential we have approximately $5 billion of investment opportunity.

What we have done over the course of the last few months since we last presented is changed the name of the company from Nathaniel Energy Corporation to Vista International Technologies. As I mentioned we have a new controlling majority owner in the company and our focus, our vision -- and we continue to build on this -- is to focus on our renewable energy products and services to reduce our dependence on foreign oil and also to reduce waste issues that are significant on a global basis.

We intend to partner with US firms for production of our goods and services and our technologies so that we can become a US exporter and produce US jobs. We link technologies together synergistically. We have a number of technologies that improve our competitive advantage in terms of thermal gasification and we’ll discuss those a little later on the presentation. We’re currently in the process of building a large backlog of project business.

The management team, just to give you a brief overview, Barry Kemble who’s not here today is the Chief Executive Officer of Vista International Technologies. He has over 24 years experience in business management and international business and business development. He’s an engineer by background and he’s done a lot of work in product management and commercialization.

My name is Tim Peach, I’m the Chief Financial Officer. I have over 25 years in finance administration operations of large and medium and small-sized companies. I’ve done a number of public offerings. My background from a credentials standpoint I do have a CPA and a MBA.

Johan Smith is a director on the board of Vista International Technologies. He’s primarily focused on business development and strategic alliances. He’s done a lot of the work on a global basis to bring this technology to light. He has over 27 years of experience and over the course of a number of years developed a tremendous project pipeline in the billions of dollars for various technologies.

Tim Ruddy is another member of our board of directors. He has over 12 years of finance advisory working with funds and venture capital groups. He’s funded a number of startups and holds a degree in mechanical engineering from Notre Dame. He has a Series 7 and 65 licenses from the NASD.

This is probably one of the few companies on the block today that’s excited about $100 oil. What it does is it drives the demand for our gasification technology. We really believe over a period of time the oil producing countries and the big oil companies without diversification are going to drive the price of oil down eventually because we will and we have alternatives for oil and the oil producing countries. We can provide those alternatives not in the future but we can actually provide those currently.

Where does all that oil go? It doesn’t all go to transportation; a lot of it is used for other sources and I don’t know if you know what percentage is used in transportation or goes to energy use and fuel consumption versus plastics, medicines, medical equipment, clothing, etcetera. Hopefully, by the end of the presentation you’ll have a better understanding of what those percentages are. One of the things we’ve been told and most recently have looked at in terms of policy on a governmental basis is that the ethanol that we are producing or are expected to produce in this country will help minimize our dependence on imported fuels.

Well the problems with ethanol -- and they’re becoming very apparent very recently -- as our population grows, as our global population grows so will our demand for food and for crop land. The demand for fuel and alternative fuels will continue to grow in addition to the amount of garbage that we produce and the costs associated with the disposition of that municipal solid waste, or garbage, if you will.

Now, one of the problems with ethanol is it diverts land and corn production from food into feed stock for ethanol production certainly. The cost associated with producing ethanol in terms of gallons of fossil fuel is at best a breakeven or roughly a little better than breakeven. In some cases it even costs more to produce a gallon of ethanol than the actual value of the production when you take into consideration the amount of fuel that goes into producing fertilizer for fields and filling the fields and harvesting and then the production at the facility itself.

So essentially what expanded ethanol production is going to do in the future, in our opinion, is increase costs for food and create problems in other sectors of the economy which we see occurring at this point of time in the rise in the cost of corn.

As you can see ethanol production has increased significantly over the last 20 years. Roughly 4 billion gallons were produced in 2005 with the expected or governmental set targets of 7.5 billion gallons by 2012. That essentially diverts tremendous amount of otherwise usable corn for food sources into ethanol production. About 1.4 bushels in 2005 were diverted from food stock into feed stock.

So what we really need, in our opinion, is to stop creating inflation especially inflation in the food industry by using corn for ethanol production. We have something in front of us that we could use right now that is essentially free and has a tremendous amount of heat and energy involved in the heat content and energy in the latent waste that we have in landfills because we’ve got a tremendous amount of hydro-carbon base waste that can be converted into energy or energy byproducts. It’s a very cheap option in terms of producing alternatives to meet our energy demands and we can do it.

In 2005 Americans produced about 300 million tons of municipal solid waste during the year and each year it’s continuing to grow. What Vista’s gasification technology does is it can, coupled with our partner who has a liquid to fuel technology, we can produce synthesis gas convert that synthesis gas into a high grade octane alcohol fuel and produce roughly 30 billion gallons of fuel from 300 million tons of trash a year. That’s about 100 gallons of fuel per ton of feedstock.

That equates to about 714 million barrels of oil a year if we utilize the entire amount of municipal solid waste that we produce on an annual basis.

This will curtail the demand for oil and reduce our dependence on ethanol which we believe is an intermediary step in the overall process from converting from oil based to alternative fuels. We can do this as long as society produces any type of hydro-carbon based waste which in my opinion is probably going to be forever.

So, our solution is our thermal gasification process. I’ve mentioned that it coverts hydro-carbon based waste into thermal energy. The process itself exceeds EPA emission standards. We can produce a multiple of byproducts whether it be electricity, steam, other chemicals for synthesis gas. The units are modular, they’re flexible, projects can be sized to meet the amount of feedstock available and they’re cost competitive.

It’s a patented technology, we have six patents issued in the United States over a 20-year period. The system represents a multistage gasification system. We can utilize other feedstocks other than SW. What we need is hydro-carbon based waste materials. We can utilize wood, tires, anything other than glass and metal container wastes.

As I mentioned before, we have a partnership arrangement with a company that has a catalytic process that can convert a synthesis gas into a high octane liquid fuel in the 100 to 130 octane rating. It can be used as a fuel additive or a straight fuel. It’s proven technology and our production on a gallon per ton of waste basis is about 100 gallons per ton of feedstock.

We have done a lot of work on an international basis to promote the project and the coupling of the gasification technology with the fuel gas to liquids technology. We have also identified a number of other synergistic technologies which we expect to incorporate into Vista International Technologies.

To discuss those efforts and what’s going on and then essentially take a futuristic view of what Vista International Technologies expects to be I want to introduce Johan Smith, one of our board members.

Johan Smith

Good morning everyone. It is a pleasure to be here. We were here in August and let me see if I can explain what we’re doing here. Vista International Technologies is now a different focused company than what it was before. Before it was focused just on gasification; now we’re taking gasification and adding a variety of technologies one being liquid fuels. As it shows here, in the last three years we’ve developed markets in China and India, Southeast Europe due to mandated for non-incinerator aspects and gasification, in our opinion, is the way to go.

Mexico, we’re actually hoping to direct the energy policies for the country. We’ve been working on that for about four years. We’ve been developing a number of markets on a variety of islands including Hawaii.

Vista is a member of the Asia Pacific Partnership which is a partnership with six other countries beside the US and the primary other partners in the renewable energy aspect and distributed generation is General Electric and Caterpillar and Vista. That membership has allowed us to develop the market at the highest levels that you can in India, China, Canada, Korea, Japan and Australia and the US of course. We have a number of Department of Commerce, Department of Energy and P2E2 is, as I said, a program that’s actually developed for the benefit of the Chinese and by the US government for pollution prevention and energy efficiency.

A number of other technologies that we’re bring in to VVIT, Vista International Technologies, are some low wind speed turbines that are in our opinion the most efficient anywhere in the world. We’ve had over 300 installations around the world in that respect. Clean coal technology, it’s all organic and the systems are reducing the harmful chemicals off of the coal itself and coal products and it increase the BTU by about 35%.

Maui Energy Company, a company we just recently acquired will become part of VVIT and their focus has been renewable and developing the market and we wanted to be in Hawaii and so far we’re having some good success there as well.

We have a hydro turbine technology which is one that we believe will set the standard in the sense of energy efficiencies and basically give us hopefully -- we hope in the near future -- reduce our dependency on foreign oil. We have a marine engineering company, no one’s focused on the marine industry. For us, we want to focus on it because that’s an untapped market and no one’s doing it, so we’re looking at using our fuels in that industry and some of our other technologies. We hope to bring more shareholder value in that respect too to VVIT.

The low wind speed turbines that I just mentioned, it has a 90% efficiency and higher. It starts in a vertical and ends up in a horizontal axis. It rotates 360, any way the wind goes, it’s operated at as low as four miles per hour and in excess of 155 miles per hour. We’ve had it higher but that’s the highest we’ve ever had it tested which still there’s no problems. And, as I said we have over 300 installations around the world. Actually, the technology was developed for developing countries primarily and now we’re looking at bringing it into the US for grid applications.

Clean coal technology, as I mentioned earlier, it’s a technology that’s all natural, there’s no chemicals, it’s all organic. It’s been tested for a number of years and it has, with coal being one of our biggest energy providers in the country and also in other developing countries, we figure this has got a lot of potential. We were in Hong Kong in January and one of the speakers said, “There’s no technology out there that can clean coal.” Well, after the presentation we informed him and he was extremely excited. Asia is becoming one of our biggest markets in that and that’s why we acquired the company. We see a lot of promise with this one.

Maui Energy Company as I said before has developed the market in Hawaii. I’ve learned over the years that if you want to get into certain markets in Maui, even though it’s part of the US if you can deal with someone local you have a better chance of success.

Our hydra turbine technology, as I said a moment ago, is really the core of why Vista was created. Vista stands for vision, integrity, science, technologies and alternatives. Our modular design unit has the capability of producing between one and three megawatts of power at a minimum. Its efficiency is in the high 90% range. It’s a technology we’ve been involved in for about 15 years but it’s been in development for over 25 years and it is a fly wheel technology that’s used in a different manner than most people would suspect. We’ve developed markets in Latin America, here in the US and other parts of the world as well for that application and we look at it as an avenue for the marine industry and also the aviation.

Some of our partners is a major international engineering firm called [Rupp]. They’re about a 62 year old company if I’m not mistaken and they have joined forces with us because they have been extremely excited. They are looking at going into the renewable energy sector are looking for a way for us to help them do that.

[Levry] Group is one of our carbon credit buyers. They’re more on the Kyoto aspect and we have other partners that are focused on developing things for the voluntary market which we feel is a lot better than Kyoto in that respect. Then, a marine engineering service company that will help us get into the marine market. And, we have an energy efficient lights, they’re manufactured overseas but we’re looking at bringing them into the US and manufacturing them here in the US.

Organic soil enhancement, what does that do? Most people say, “Why would that fit into a company focused on renewable energy?” If you can reduce the use of fossil fuels for chemicals or fertilizers, if you can do it organically it helps reduce the carbon footprint one step at a time as we always say. And, we have a local manufacturer that we’re in the process of being involved with us that will actually allow us to cut our costs. They have some technology in oil shell and tar sands so we look at it as that’s a market that is potentially good for us.

Our waste energy products, like I said earlier we have about $5 billion in business at the moment. At the moment only due to personnel reasons we’re turning away about a half a billion dollars in business a month; putting it on hold for a month or so because we’re really just not ready to ramp up that. We’re getting the manufacturing and everything in place. But our interest in what we’re doing is quite substantial. China and India is enormous for us, we see a lot of growth there and we’re excited about it.

Southeast Europe, we’ve announced a project in Bulgaria recently and we expect that market to increase to about $250 million minimum in the next several years. As I mentioned Hawaii and also we announced recently a project that we’re looking at doing here in the City of New York, well in the burbs, not in Central Park here but outside. Then in Colorado we have a number of projects we’re working on and then as I mentioned earlier we’re working with the Mexican government and we have a number of projects in Mexico. Our New York City project is in Jamaica Queens, I think that’s where it is. I never get it right, I always get confused.

Our revenues for the company, something the company and prior management was not team focused on. My focus has been to provide all shareholders a benefit of revenue and that’s why we wanted to bring in other technologies because when you do a waste energy project or waste to fuel project it can take anywhere from 18 months to two years to break the market so there’s not a lot of revenue coming in. These other technologies I mentioned earlier will allow for us to do that and we expect within the end of this year to be at least about $10 million in expected revenues. In 2009 we’ll expect that number to escalate substantially due to the projects and the other technologies we’re bringing on board.

Our waste to energy plants are set up as a modular design, 250 is the average size, we have different sizes but our main focus between 200 and 250 tons a day and an estimated 30 to 35 million. Most companies make their money off the tipping fees in this industry and that’s traditionally the case, but for us we decided to focus on a fuels process so it will allow us to where the tipping fees are not as profitable as one would like, you can still make a project very successful without them.

The price of ethanol is about $2.40, I think it’s $2.10 or $2.50, something like that. We believe that in all our projects that we’ve done we can do it for $2.00 a gallon and make a substantial amount of money. We figure our projects from a waste-to-fuel aspect are quite nice.

Vista International Technologies has been approached by an international fund that wants to fund us in essence between $150 and $250 million initially and we’re in the process of setting up that fund to receive those funds from our international partner in that respect. We will be funding Vista International Technologies and some of the other things when the fund is completed within the next 60 to 90 days. I cannot emphasis and stress enough the 150 to 250 in renewable energy fund that we’re establishing is the initial investment. They’ve committed a substantial amount of money because they like our approach, they understand the innovation of what we’re doing and they’re really excited about the technologies.

As Ted mentioned earlier about the barrel of oil. There are a lot of people that believe that you get different opinions but out of a barrel of oil, where it actually goes, so what the percentages are. The reality is that if you take one barrel and you break it down the percentages are such that only 20% to 25% of it actually goes to energy and fuels. If you look at our clothes, maybe not the chairs we’re sitting on, our cell phones and everything else in our lives, the plastics, the medical equipment, everything else, our airplanes that we fly on to get here, parts of our cars, it’s plastics and textiles is where the majority of a barrel of oil actually goes and most people don’t pay attention to that.

With us, we believe waste is the way to go. Being municipal solid waste, being bio mass, being straw, being tires, being a variety of other aspects we can actually use that waste. Most people don’t focus on it and it’s something we produce everyday of our lives so why not focus on it. For us, waste to fuel is the direction of the future and it’s here today and you don’t need to spend billions of dollars to achieve it.

We’re taking a whole different approach. We’re going to take a company that had a focus of one and now we’re bringing multiple businesses to it and we want to provide a benefit for all our shareholders and make a difference in the world.

Thanks, I appreciate it. Any questions?

Question-and-Answer Session

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

No.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

Yes, we have.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

The technology is not an incinerator. A lot of incinerators call themselves gasification just because.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

We use heat. We use heat and we take a waste and create it into a pellet.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

No. It’s actually not as difficult as a lot of people would think. We take waste and first you have to pellet, in our process. A lot of people don’t, they incinerate it, just take it and burn it. For us, we process it, we separate the glass from the metal and then we turn around and create in the sand and what have you we would clean it as much as we can in that respect then we run it through a process and create a pellet the size of my thumb roughly.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

There’s no water.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

The gasification range can run between 1500 and 1700 Fahrenheit and we’re using heat and when you take heat from something that’s in a pellet it creates a gas. So there is no incinerator or there’s other technologies, there’s other technologies that are being presented here as well with gasification and fuel and variety of other things. But, for us this technology –

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

There isn’t any. We use the air that’s within the system itself. It’s closed. We’re not injecting anything or any of that aspect. I mean, this system it’s been around, it’s had a variety of improvements over a 25-year period. The last one, we had a small one in Atlanta, Constitutional Paper I think for about 15 years but they consolidated and they didn’t need it anymore.

Unidentified Analyst

[Inaudible – no microphone]

Johan Smith

As you said, typically.

Timothy Peach

That really depends on what we’re doing. If you’re producing electricity a lot of that can be burned off in the configuration at a higher temperature because we have certain scrubbing capabilities on the back end to eliminate any type of residual. If we’re going to do a gas to liquid technology, then we require an intermediary step where we’re cleansing a lot of that [inaudible] gas and prepping it for an outpost conversion process.

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

Well, if you’re doing electricity your parasitic load is what you’re asking for; it is roughly 10% to 15% on an ongoing basis.

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

But, the way the process is started and you’ve got a closed environment so it’s oxygen starved and we utilize a natural gas or propane gas to preheat the interior chambers of the gasification process and once that process commences it creates enough energy that you can cut off the external fuel supply, it’s sort of self sustains through chemical reaction.

I’m not a chemist and I’m not going to talk the technicalities of that but it is either an exothermic or endothermic, I’m not sure which reaction which essentially allows for the continuity of the process. So, the key there is to introduce a waste stream that is a consistent BTU content so that we can produce proper synthesis gas depending on what we’re going to use if for. It’s initially a producer of gas that we can refine into a synthesis gas configuration.

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

Of course.

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

Well, there’s a lot of questions in there and it’s a difficult – it’s not an easy question to answer because you’re right every place you go your content of your feedstock is going to change. In China we see it heavily weighted towards heavy water content which means that you’ve got to deal with reducing the water content for an efficient gasification process if you want to produce electricity. So, each situation is a little different.

What we’re doing in New York, you asked the question earlier, we’re not picking up a big piece of New York’s trash problems at this point in time with what we’re doing. This is a smaller scale facility and we’re working with a local contractor that expects to provide us in the area of 500 to 1,000 tons a day of specialized waste material. It’s not necessarily what’s coming off – it’s more industrial waste which is a lot of plastics and a lot of paper and cardboard. So, we can utilize the type of fuel we’re going to receive and determine what kind of gas will produce off that mix.

I’m not sure I completely answered your question, I think a book can be written on that one.

Unidentified Analyst

500 tons or pounds?

Timothy Peach

500 tons, I believe.

Johan Smith

Keep in mind that’s probably in a multiple, that would be in New York, that would probably be anywhere from – because we all know there’s limited space in this area not even considering just the city, I’m talking about the boroughs, what have you -- the project itself there would probably be multiple project locations to 500 to 1,000 tons. But, I think the initial one is roughly a couple of hundred tons if I’m not mistaken.

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

It’s a smaller scale process, yes. I have to put this up here on forward-looking statements, my SEC attorney tells me.

Unidentified Analyst

[Inaudible – no microphone] Which of your various products and technologies and which of your projects are going to contribute to the 2008 revenues?

Timothy Peach

From a gasification standpoint we have projects in the pipeline in China and Mexico; in Bulgaria, the situation we’re looking at in Hawaii, we talked about India those will not be –

Unidentified Analyst

[Inaudible – no microphone]

Timothy Peach

What we’re looking at in terms of revenue production is if I go back to some of the other technologies we’re looking at the clean coal technology which we have essentially established, we expect that we should generate revenues from the clean coal technology. The wind turbine technologies we expect towards the latter part of the year will be generating some revenues off the sale of the low speed wind turbines. And, we expect to see some influx of revenues coming out of the marine engineering side of the business. Also, we have a tire processing facility in Texas which we didn’t address on this issue, we’re in the process of renovating and resizing that and we expect that to contribute to revenue during 2008.

Unidentified Analyst

Then just a follow up question, are the customers for those three technologies you just mentioned, have they already been announced? Or can we look forward to hearing who is buying the clean coal technology and who is buying the --

Timothy Peach

We have not announced specifics on those at this point in time but we expect to be able to announce those in the near future. Those are forthcoming.

Well, if there are no other questions, I thank you very much for your attention this morning and appreciate the opportunity to present to the group. Thank you.

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