Solucorp Receives Initial Payment, Shipment of Chemicals for Ravenna, Ponticelle, Italy Project Commences
August 08 2005 - 7:00AM
Business Wire
Solucorp Industries (OTC: SLUP) announces that it has received the
initial USD $300,000 for the technical "know how" provided and the
work done by Solucorp during the planning and construction phase of
the treatment plant at the Ravenna, Ponticelle, Italy site.
Additionally, the first shipment of chemicals has arrived at the
port for delivery to the Ravenna, Ponticelle site August 17, 2005.
The anticipated startup schedule of the project (Solucorp Signs
Contract for Sale of $5.5 Million of Its MBS Toxic Metals
Remediation Products, News Release June 13, 2005) has been received
from Syndial SpA. Solucorp personnel will be at the Ravenna,
Ponticelle site the week of September 5, 2005 for the initial
testing and setup of the plant. Solucorp technical personnel will
return to the site the week of September 26, 2005 and remain
through October 14, 2005 for the actual commissioning and
commencement of the sediment treatment. The remediation of this
site is expected to take twelve months to complete during which
time a senior Solucorp field technician will be present on site.
The Ravenna, Ponticelle project will allow Solucorp to showcase its
MBS(R) (Molecular Bonding System) to all of Europe at a time when
new European regulations (Council Directive 1999/31/EC of 26 April
1999) that went into effect in July, 2005 prohibiting hazardous
waste from being disposed in landfills, have been instituted.
Solucorp has been working with the ENI Group, one of the world's
energy giants, for seven years through its environmental branch.
The MBS technology offers a viable solution to the stringent
demands required by this new legislation. Solucorp and Ambiente,
now Snamprogetti SpA signed an Exclusive Agreement in February
2004. This agreement which was previously discussed in our news
releases of February 26, 2004 and March 3, 2004, grants,
Snamprogetti S.p.A., the exclusive right to market and apply the
MBS technology for the ENI Group and its customers, limited to the
Country of Italy. Solucorp and Snamprogetti SpA have begun
conversations on new projects that will require the MBS(R)
technology. Rich Runco, President of Solucorp Industries, Ltd.
states, "The ENI Group's decision to use exclusively Solucorp's
MBS(R) technology is a direct verification to the excellence of the
technology and the confidence ENI Group has in the technologies
ability to instantly, permanently and cost effectively remediate
heavy metals contamination." 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.
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