Solucorp Signs Agreement to Integrate Its Patented Self-Remediating Paint Filter Technology into Major Worldwide Manufacturer's
October 11 2005 - 2:24PM
Business Wire
Solucorp Industries, Ltd.- (OTC: SLUP) announces that an agreement
has been signed with a leading worldwide manufacturer and provider
of filtration products to integrate Solucorp's patented self
remediating metals' contaminated paint booth filters into their
existing filter manufacturing lines. At the request of the filter
manufacturer the name of the company is being withheld at this
time. Solucorp invented and filed patents for its innovative
self-remediating metal removal filters, which eliminates the need
for hazardous waste disposal of the filters and the related
negative impact to the environment. The goal of the venture is to
substantiate that the two companies technologies can be combined,
mass-produced, and commercialized into the $6 billion per year
environmental filtration market. This agreement provides Solucorp
with the opportunity to join forces with the premiere provider of
filtration technology. In addition, the integration of Solucorp's
technology allows for further compliance with NESHAP (National
Emissions Standards for Hazardous Air Pollution). Previous to
Solucorp's filter technology spent paint booth filters were
hazardous and had to be disposed of in this manner. This accented
environmental concerns and resulted in disposal costs nearly
equaling the cost of the filters. Self-remediating filters
eliminate the environmental concerns, save disposal dollars and
give "value added" benefits to the manufactured products. The
Agreement outlines a timetable during which all of the development
and manufacturing work will be completed to integrate Solucorp's
technology into the filter manufacturing process. The filters will
then be tested (Beta test) to ensure that the metals accumulated in
the spent filters were rendered non-hazardous. Solucorp has already
confirmed the filters self-remediating capabilities through
independent certified laboratory testing resulting in the filing of
the patent application for the filter technology. They will have
the first right of refusal for the licensing, royalty or buyout of
Solucorp's filter technology. Richard Runco, President of Solucorp
Industries, Ltd., said "We are extremely excited that our
innovative filter technology has been recognized by a leader in
this industry who is conscious of the need for a "greener"
environment. The continued interest in our technology by major
manufacturers clearly demonstrates to Solucorp that the desire for
heavy metals pollution prevention and Solucorp's innovative
proprietary technologies have reached the same plateau. We believe
that this is only the beginning of things to come with filter
technology." 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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