Gulf Of Mexico Oil Spill Cleanup Solutions By Genoil Progress Update
Monday May 24, 2010, 6:05 am EDT
CALGARY, ALBERTA–(Marketwire – 05/24/10) – Genoil (TSX-V:GNO – News)(OTC.BB:GNOLF – News) updates its shareholders on its sand decontamination & oil water separation technologies. In a recent press release Genoil discussed its sand and soil decontamination technology which works alongside the Genoil Crystal Sea Oil Water Separator. These technologies address all the oil spill contamination emergencies in the Gulf of Mexico including the beaches, and the Louisiana marshlands. The sand cleaner can be portable and built especially to operate using salt water which makes it much more profitable. This portability and adaptability enables it to do cleanup at the location much faster than a non-portable unit.
The Coast Guard & ABS (American Bureau of Shipping) approved Crystal Separator’s reduces oil contaminated water to 2.5 parts per million in contamination versus the Kevin Costner’s brother’s Ocean Therapy water cleaner which is said to clean the water to 97% to 99% purity or 30,000 to 10,000 parts per million contamination. The Genoil Crystal Sea provides the most significant oil contamination solutions to the Gulf of Mexico oil spill disaster. Mr. Costner’s technology has not been certified by the United States Coast Guard regulations as its purity levels for the discharge of water in the ports, lakes or rivers of the United States are very substantially above legal requirements while Genoil’s Crystal Sea is US Coast Guard approved.
The sand cleaner of Genoil can return the Gulf of Mexico’s contaminated shoreline to a purity worthy of the most picturesque beaches, marshlands and shorelines in the world.
BP has shown interest in Genoil’s cleanup solutions and they are in discussions with Genoil regarding the disaster in the Gulf of Mexico. Genoil is also in discussions with United States authorities as its oil separation technologies are the most advanced in the world for the contaminated shorelines. While this crisis develops in the Gulf of Mexico, Genoil is in discussions in the Middle East regarding oil spills from the first Gulf War of 1991 for extensive oil contamination that covers an astounding 800 miles of beaches at a depth of six feet stemming from tactical military decisions of Saddam Hussein which created one of the greatest ecological disasters in history.
The Genoil Chief Executive Officer, David K. Lifschultz, has been working in the Middle East supervising this potential project as other green projects entailing environmental cleanups for the area’s ports using its Crystal Sea Separators water purifier and sand cleaner.
Genoil has the leading environmental cleanup technologies, and is in the process of rolling them out over the entire world.
Genoil has previously reported the allowance by the United States patent office of a patent on its sand decontaminating unit which has now been granted as a full patent, and has also just been allowed a second patent for this sand decontaminating unit. Its Crystal Sea water purifier is also patented in the United States. The Crystal Sea is the most advanced, state of the art water purifier and its costs are 75% below its nearest competition. Also, the Crystal Sea combined with our sand/soil decontamination unit offers a total solution to the monumental Gulf of Mexico cleanup problems.
ADVISORY: The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Certain information regarding the company, including management’s assessment of future plans, strategic partnerships, operations, financing outcomes and the ability to negotiate a definitive agreement on terms acceptable to both parties may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with an oil and gas technology development corporation, including competition from other technologies and the ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated. The Corporation assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements. Additionally, statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company’s ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues. Further information on potential risk factors that could affect the company’s financial results can be found in the company’s disclosure materials filed on SEDAR at www.sedar.com and with the Securities and Exchange Commission.
Chairman & CEO