Solucorp Industries (CE) (USOTC:SLUP)
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From Jul 2019 to Jul 2024
Solucorp Industries (OTC: SLUP) today announced it has
signed a contract for the sale of 5.5 Million U.S. dollars of its
MBS(R) heavy metals remediation products from Syndial, a company of
the ENI Group, an Italy based International Conglomerate. The MBS(R)
will be used to remediate mercury contaminated soil on a five plus
acre site in Ravenna, Italy. The Ravenna site is the first project to
commence under the Exclusive Agreement signed with Ambiente, in
February 2004. This agreement which was previously discussed in our
news releases of February 26, 2004 and March 3, 2004, grants Ambiente,
now called Snamprogetti S.p.A., the exclusive right to market and
apply the MBS(R) technology. Snamprogetti agrees to exclusively use
Solucorp's MBS(R) Technology for the ENI Group and its customers,
limited to the Country of Italy. Discussions have already begun
between Solucorp and Snamprogetti for, the sale of MBS(R) products for
additional projects containing heavy metals contaminated soil, sludge
and industrial ash.
The contract also includes a $300,000 payment to be made to
Solucorp for its efforts in the approval of the basic engineering of
the treatment plant, preparation of an operational manual and the
technical specifications for the MBS(R) reagents, bringing the total
revenues from the contract to 5.8 Million U.S. dollars. The signing of
this contract culminates eight years of working with Ambiente, an ENI
Group Company whose annual revenues averaged more than EURO 47 billion
during the years 2000 through 2004. The work included traveling to
Italy by Solucorp personnel to assess the site and its contamination
problems, along with conducting studies to optimize the ratios
necessary for the most efficient treatment of the site's contamination
issues. Solucorp provided the "know how" and technical support to
Syndial for the development of an on site treatment plant, including
processing plans and procedures, formulations and operation manuals.
Solucorp also assisted Syndial in the obtaining of Italian regulatory
approvals for the project and will train Syndial personnel on site to
run the treatment plant. The contract calls for Solucorp to supply its
patented MBS(R) formulation reagents, supervisory and technical
advice, and appropriate Solucorp staff throughout the duration of the
project. Syndial now expects the project to commence immediately and
Solucorp has agreed to specific requirements. As a matter of policy
Solucorp guarantees that its Environmental Protection Agency (EPA)
Superfund Innovative Technology Evaluation "SITE" proven technology
will achieve desired remediation results. Solucorp has consistently
proven the efficacy and cost effectiveness of its MBS(R) products.
Solucorp will be shipping product to the Ravenna site, beginning in
July for commencement of the actual cleanup in August.
"Working with Syndial and other companies within the European
remediation market is an exciting major step and represents a major
revenue stream for Solucorp.The Ravenna project will serve as a
blueprint of Solucorp's ability to effectively remediate toxic metal
contaminated sites for reuse. We expect the European market to expand
rapidly in light of new European Community regulations (Council
Directive 1999/31/EC of 26 April 1999) that will go into effect in
July prohibiting hazardous waste being disposed in landfills. The
Ravenna site contaminant is mercury and while the MBS(R) technology is
proven to remediate all heavy metals, we believe our MBS(R) technology
treats mercury waste better than any other technology on the market
today. Mercury contamination as well as the mercury emissions issue
for coal fired plants continues to be a major concern worldwide, as
evidenced by regular news reports on this subject. MBS(R) is the
answer (see press release dated 05/22/2005) for remediating this
hazard," said Rich Runco, President of Solucorp Industries.
ENI is one of the World's energy giants. Based in Rome, ENI is one
of Europe's largest companies employing more than 80,000 employees in
more than 70 countries, providing Solucorp with a worldwide alliance
for its innovative technologies. ENI is active in chemical production
and marketing, natural gas exploration and production, petrochemicals,
engineering and oil services. Snamprogetti is an environmental
servicing provider and leader in Italy in the areas of industrial
waste treatment and environmental rehabilitation and serves as the
Environmental Consulting Group for the ENI Group.
About Solucorp
Solucorp Industries, Ltd., a Canadian corporation is parent to
three U.S. corporations including: Solucorp Industries, focusing on
the metals remediation and pollution prevention industries. Solucorp's
patented MBS(R) technology began development over twenty years ago and
offers a permanent solution to heavy metals pollution problems.
Solucorp's MBS(R) has also undergone U.S. EPA MEP (Multiple Extraction
Procedure) testing demonstrating its ability to prevent the return of
metal pollution for in excess of 1,000 years. Since being patented,
MBS(R) has been used throughout the United States and Canada as well
as the UK, Italy, China and Argentina. Solucorp's MBS(R) technology
can be reviewed on the EPA website at www.epa.gov by typing in the New
Search Space, "Molecular Bonding System." This technology is also
presented in a publication produced by the EPA titled Superfund
Innovative Technology Evaluation (SITE) Program, Technology Profiles
10th Edition, and Demonstration Program.
The Integrated Fixation System (IFS) technology was developed from
Solucorp's EPA SITE Program proven MBS(R) process. The IFS technology
deals with pollution prevention rather than existing contamination
problems. IFS can be integrated into many types of product
applications. IFS prevents 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 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 both as solids and non-solids. The solid compound delivery
systems include, for example, 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 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.
WITS Inc., founded in 2001 and purchased by Solucorp in June 2004,
is capable of supplying package systems to treat contaminated
wastewater as low as 20 gallons per minute and upwards of 200 gallons
per minute. By installing multiple package systems, flows greater than
that can be achieved. In addition to pricing advantages, the WITS
package produces a better water end result without using harmful
chemicals. The major water/wastewater areas where the WITS' package
can be utilized with significant benefits includes water utilities;
wastewater utilities; sludge processing; combined sewer overflows;
industrial pretreatment; offshore oil rigs; livestock industry and in
food & beverage industry wastewater, automotive/metal processing
discharging, recyclable water recovery and phosphorous removal. WITS
also has a network of representatives throughout the Country to
promote their technology. This wide range of uses provides Solucorp
with the ideal complement to its remediation and metals pollution
preventive proprietary technologies.
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.