Solucorp Industries (CE) (USOTC:SLUP)
Historical Stock Chart
From Jul 2019 to Jul 2024
Solucorp Industries Ltd. announced today positive
independent test results and the completion of development of the
first "water activated" self remediating paint booth filters. The
highly cost effective self-remediating paint filters eliminate the
need for disposal of the filters as hazardous waste.
Developed by Solucorp Industries Ltd.'s wholly owned subsidiary
Integrated Fixation System Co., Inc. (IFS), the filters have undergone
extensive independent testing and assessment by two certified
laboratories. The results clearly verified the filter's efficacy by
repeatedly demonstrating that metals captured by the filters during
the paint application process, once activated by water, were rendered
inert. The filter passed the U.S. Environmental Protection Agency's
(EPA) Toxicity Characteristics Leachate Procedure (TCLP) and can
therefore be disposed of as non-regulated, hazardous, debris. For the
first time, Solucorp's filters eliminate hazardous disposal fees of as
much as $8.00 per filter. Utilization of the new self-remediating
filters also reduces the related liability for users associated with
hazardous waste disposal and serves as a major facilitator for a
greener environment.
Richard Runco, President of Solucorp Industries Ltd., stated,
"Self-remediating paint filters represent a win on all fronts - good
for business and good for the environment. Our goal is to provide
these self-remediating filters at a cost which is only slightly above
the cost of ordinary non-remediating filters while providing the
additional benefit of saving the user high disposal expense and other
costs associated with hazardous waste disposal (such as liability
insurance, legal fees, regulatory filings, etc.).
"Although the size of the world market for filter disposal is not
easily quantifiable, we understand that one large aircraft
manufacturer alone reportedly spends $17 million per year in total
hazardous waste disposal, and we estimate over $5 million of that is
spent on paint booth filter disposal. The use of the IFS filter would
completely eliminate this disposal cost, resulting in significant
bottom line improvement for the user," Runco said.
Paint booth filters are used extensively by both the military and
private industries throughout the world. Common uses include painting
of airplanes, railcars, automobiles and military vehicles.
The IFS product line provides environmentally friendly ("green")
consumer and commercial products for the prevention of pollution at
the source. Other IFS self-remediating products include LEAD-OUT Paint
Stripper - which successfully strips and stabilizes hazardous lead
upon contact allowing for disposal at non-hazardous landfills.
The IFS technology was developed as an extension of Solucorp's EPA
Super Innovative Technology Evaluation (SITE) Program-proven Molecular
Bonding System(R) (MBS) process. The IFS technology consists of
various patented proprietary delivery systems that can be integrated
into many types of products to remediate existing problems on contact.
IFS technology can also be built into manufacturing lines to stop
pollution at the source, never allowing the metal contamination to
occur. IFS products will prevent future contamination from metals such
as lead, mercury, arsenic, chromium (hex or tri), cadmium, zinc,
nickel, selenium, antimony, barium, beryllium, silver, thallium and
vanadium.
IFS can also be added to pollutant-bearing products such as
batteries, paint strippers, bullets, filters, computers, lamps,
switches appliances, etc. IFS can be applied through a multitude of
delivery systems such as solids and non-solids. The solid compound
delivery system includes blocks, tablets, spikes and flakes. Some
examples of non-solid delivery systems include laminates, inks,
pastes, powders, gels and slurries. IFS can be designed to activate
and release under conditions such as exposure to water, weather,
light, pressure, acids, natural oxidation, etc. IFS has no limitations
in how and where it can be integrated into metal containing products.
Customized products can be designed and manufactured to meet specific
needs.
Solucorp has applied for nine patents of which three have been
issued and six have reached "patent pending status." The Company has
developed numerous prototypes for additional patents utilizing its
proprietary formulas into plastics, cardboards, liquids and gels. The
IFS product lines are designed to completely eliminate metals
pollution from the environment by working with manufacturers and the
related remediation industries.
Solucorp is actively seeking licensees for remaining open sales
territories in the U.S. and abroad. Interested parties can contact Ed
Ceccacci, V.P. Operations, at (845) 623-2333. Solucorp has implemented
a territorial licensing program for its IFS products both in the U.S.
and throughout the world which has already attracted a number of sales
and distribution companies which in turn have already signed licensing
agreements.
About Solucorp Industries, Ltd.
Solucorp Industries, Ltd., (SLUP.PK) (www.solucorpltd.com) is a
developer and provider of patented, cost effective and permanent
technologies for the remediation and prevention of hazardous heavy
metal contamination. Solucorp operates three wholly owned
subsidiaries: Solucorp Industries, Integrated Fixation System Company
Inc., and WITS, Inc.
The foregoing discussion contains forward-looking statements,
which are based on current expectations. Actual results, including the
timing and amount of revenues recognized, contracts awarded and
performed and net income may differ due to such factors as delays in
payment on contracts due to dealings with governmental and foreign
entities; fluctuations in operating costs associated with changes in
project specifications; economic and other conditions affecting the
ability of prospective clients to finance projects; and other risks
generally affecting the financing of projects. Investors are cautioned
to perform a proper due diligence and consult licensed professionals
prior to making an investment decision.