Solucorp's Patented MBS Heavy Metals Remediation Technology Selected as Technology of Choice for Italian National Listed Reclama
15 December 2006 - 12:58AM
Business Wire
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.
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