Solucorp Industries (CE) (USOTC:SLUP)
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From Jul 2019 to Jul 2024
Solucorp Industries, Ltd. (Pink Sheets:SLUP) announced that its patented
Molecular Bonding System (MBS) heavy metals soil remediation technology
has passed all tests conducted by an independent laboratory in Italy,
surpassing all other tested remediation technologies. The MBS process
has been confirmed as the technology of choice for remediating heavy
metals contaminated soil at an Orbetello, Tuscany site in Italy.
Solucorp received written notice of confirmation of its technology’s
selection from EARTH s.r.l., the engineering company in charge of the
SI.TO.CO site in Orbetello. EARTH S.r.l. is a part of the Saico company
in Arezzo, Italy.
The SI.TO.CO Orbetello remediation site, once awarded, will consist of
50 hectares (approx. 123 acres) and could reach $80 million in
remediation revenue to Solucorp over the multi-year life of the project.
Phase One of the project will include 10 hectares (approx. 25 acres) and
is estimated to represent $16 million in remediation revenue. EARTH
S.r.l. awaits final approval from the property owners and the Ministry
of the Environment (the Italian equivalent of the U.S. EPA) in order to
move forward on this project. The final approval is anticipated in the
first quarter of 2007.
The SI.TO.CO site was declared a site of national interest by the
Italian Ministry of the Environment. EARTH S.r.l. went on to request
that arrangements be made for a meeting to define the course of
operation for the first phase of the SI.TO.CO project.
EARTH S.r.l. stated that after extensive review of Solucorp’s
successful remediation at Ravenna, Italy, a decision was made by EARTH
S.r.l. to review the applicability and effectiveness of Solucorp’s
MBS metal remediation technology on the Orbetello site. Numerous tests
at an independent laboratory in Italy were made on soil samples provided
by EARTH S.r.l. from the SI.TO.CO site and yielded the required results.
Solucorp is in the final stages of another high profile clean up at
Ravenna, Italy, which to date has generated over $4.5 million in revenue
for Solucorp. During the 16 months that Solucorp has been on site, a
strong working relationship has been established with Syndial, the
company whose land is being treated and Snamprogetti, the company who
runs the reclamation division for the ENI S.p.A.
The MBS technology has performed flawlessly at the Ravenna site with
results of the treated soil tests coming in well below the Italian
regulatory limits. Using the Ravenna site as a showplace, Solucorp’s
work force in Italy has conducted tours on the site for new clients to
view the operation. These contacts, and others that have been
established through years of work with the leaders in the environmental
field in Italy, have set the stage for future business in Italy. Many of
those contacts have visited the Ravenna site. The result of these visits
and the additional successful testing of six different projects in Italy
has brought about the proposed use of Solucorp’s
technology at six successfully tested sites going through various stages
of review to date.
Richard A. Runco, President of Solucorp, states, “Stringent
European Union environmental regulations and the need for permanent soil
remediation have set Europe as the immediate revenue producing frontier
for Solucorp. The proven and cost effective MBS remediation technology
in Italy makes Solucorp’s patented remediation
solutions highly desirable throughout Europe.”
About Solucorp Industries Ltd.
Solucorp Industries, Ltd. (www.solucorpltd.com)
is a developer and provider of patented, cost-effective and permanent
technologies for the remediation and prevention of hazardous heavy
metals (including lead, mercury, arsenic, chromium, copper, zinc, nickel
selenium and cadmium) 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 dealing 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.