Genoil Inc. Receives Coast Guard Certification for Its Crystal MU 30 and MU 40 Bilge Separators
September 16 2011 - 6:00AM
Marketwired
Genoil Inc. (TSX VENTURE: GNO) (OTCBB: GNOLF) is pleased to
announce that two larger model Crystal MU 30 and MU 40 oily-water
separators, of 5 m3/h and 10 m3/h capacity, have recently been
certified by the US Coast Guard in accordance with IMO Resolution
MEPC 107 (49). These models are essential in offering a complete
line of bilge separators.
The US Coast Guard/IMO MEPC 107 (49) certifies bilge separators
that achieve less than 15 parts per million (ppm) oil content.
While lower oil contamination of the effluent is highly desirable,
the 15 ppm limit was set due to the industry's inability to provide
more efficient separators. However, during the most recent Crystal
test, oil readings indicated zero ppm oil content in the effluent
without filters.
"This certification is the culmination of nine years of research
and development," said David Lifschultz, Genoil's Chairman and CEO.
"Our Crystal separators' thoroughly innovative approach in
oil-water separation virtually eliminates the use of filters, which
results in significant savings in operating costs and zero
downtime."
Mr. Lifschultz concluded, "Apart from setting new purity
standards in the industry, the Crystal Separator saves $16,000 a
year on filter changes, has a smaller footprint and is 75% cheaper
than competitor's products, according to the ship owner."
The Crystal separators are now available in a variety of models,
ranging from the industry's most compact bilge unit of 0.25 m3/h,
to the recently approved 5 and 10 m3/h capacity units. Korean,
Japanese and Chinese shipyards, which comprise a majority of the
shipbuilding industry, require companies to produce coast guard
certified separators that reach up to 10 m3/h capacity in order to
be placed on their list of manufacturers. The approval of Genoil's
10 m3/h unit affords these countries the opportunity to choose the
Company for their oily-water separation projects.
Work on a material GHU upgrading contract is nearing
completion.
About Genoil
Genoil is a publicly traded Canadian heavy oil upgrading,
engineering, and technology development company headquartered in
Edmonton Alberta, with offices in Calgary, Sherwood Park, New York
City, Constanta, Romania, and Dubai & Abu Dhabi. Genoil has a
hydroconversion upgrader, owns a 10bpd hydroconversion upgrader
located on 147 acres, and offers an array of clean tech petroleum
technologies and heavy oil upgrading solutions. Genoil's shares are
listed on the TSX Venture Exchange under the symbol GNO, as well as
on the OTC Bulletin Board under GNOLF.
ADVISORY: 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Genoil Inc David Lifschultz Chairman and CEO (212)
688-8868 or (914) 393-5800 www.genoil.ca
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