Strategic Environmental & Energy Resources Reports 49% Revenue Increase to $4.3 Million for Fiscal Year 2024

Strategic Environmental & Energy Resources, Inc. (SEER) reported a significant increase in revenue for the fiscal year ending December 31, 2024, with total revenues reaching approximately $4.3 million, a 49% increase from $2.9 million in 2023. The company attributed this growth to a 41% rise in both product and media sales, which were previously constrained by capital limitations and project delays. Despite this revenue growth, SEER continued to face financial challenges, incurring a net loss of approximately $1.8 million for the year, slightly improved from a loss of $2.4 million in the prior year. The company’s accumulated deficit now stands at approximately $36.2 million.

In terms of operational changes, SEER has made strategic decisions to enhance its business model. The company has focused on internal growth through its subsidiaries while also seeking to establish long-term alliances and acquisitions in the renewable energy and waste management sectors. Notably, SEER has discontinued operations at its SEM subsidiary, which was initially aimed at developing advanced chemical absorbents, and is now pivoting towards biochar production in Texas. This shift is part of a broader strategy to leverage proprietary technologies and address the growing demand for decarbonization solutions.

As of December 31, 2024, SEER reported a working capital deficit of approximately $13.3 million, an increase from $11.6 million in 2023. This change was primarily driven by rising accrued liabilities and short-term borrowings. The company employed 11 individuals, including part-time staff, reflecting a lean operational structure. SEER's customer base remains concentrated, with two customers accounting for over 10% of its revenues, which poses risks related to revenue fluctuations.

Looking ahead, SEER is focused on improving its financial condition by enhancing revenue generation and exploring various financing options. The company is optimistic about the potential for growth in domestic markets driven by increased federal and state emission control regulations. However, SEER acknowledges the uncertainty surrounding its ability to secure additional financing and achieve profitability, which raises substantial doubt about its ability to continue as a going concern. The management is actively working to address these challenges while aiming to capitalize on emerging opportunities in the environmental and renewable energy sectors.