Intrepid Energy Corporation, an Umbra Applied Technologies Group company has started oil production. CEO of Umbra Applied Technologies Group, Alex Umbra commented that, "Today is yet another milestone in the development of our company, as we begin to transform the potential of a promising company into realized shareholder value. I congratulate our team on yet another successful step towards our plan to build a diversified energy farm."
Umbra Applied Technologies Group has begun the process to create an 'energy farm' that will integrate its clean GreenTech product lines and bolster UAT's Clean Energy Initiated with conventional oil and gas operations. Justin Herman, CEO of Intrepid Energy stated that, "Our ambition to become a great energy company truly started today. Obviously with the commencement of oil production, we anticipate increasing revenues with oil sales, as we do our part in building UATG, while we work towards American energy independence."