Pemex to Lease Robix P Series Oil Recovery Product in Oil Production Settling Ponds
LETHBRIDGE, ALBERTA--(Marketwired - Oct. 20, 2015) - Robix Alternative Fuels, Inc. ("Robix" or the "Company") (CSE:RZX)(FRANKFURT:R0X) announced today that as a result of meetings with senior representatives of Petroleos Mexicanos ("Pemex") that commenced in July, 2015 in Villahermosa, Mexico (see Robix press release dated July 8, 2015), and Robix's newly formed joint venture ("JV") between its Mexican subsidiary, Corris Technologies Mexico S.A. de C.V. and Petrolmeca S.A. de C.V. (see Robix press release dated May 4, 2015), the JV has received technical and legal approval by Pemex to design and build a land based P-Series oil spill recovery platform (launched in September 2015, see Robix press release dated September 2, 2015) for use in one of its large oil production settling ponds. Once budget allocation has been finalized by Pemex, construction of the P Series recovery platform will commence. It is anticipated that the P Series will be deployed to site in the first quarter of 2016, and that it will be subject to a services agreement with a multi-year fixed term.
The P Series uses patented drum technology to siphon oil from the surface of the ponds within oil production facilities. The recovered oil is recirculated within the customer's facility. The agreement with Pemex contemplates deployment of the Robix P140. This drum technology is also used in the Company's C Series oil spill recovery vessels which target marine applications.
"The Robix patented oil recovery drum technology is truly versatile and suited to multiple platform configurations," commented Nathan Hansen, President and CEO or Robix. "Oil recovery from settling ponds in a production setting is an exciting application for the Robix technology. Optimization of production facilities is key to oil producers globally and I believe that our land based solution can be duplicated in production facilities throughout Mexico and indeed globally." Hansen continued, "We have taken technology that was developed to mitigate oil spill accidents and applied it to new markets. Staying nimble and innovative is crucial in this market place and this is a testament to our team and our partners. This represents a new revenue stream for Robix and I believe the market opportunity is tremendous."
About Robix Alternative Fuels
The Corporation is an "industrial products/technology" company, which has developed an oil spill recovery vessel with the capability to recover oil not only in rough and debris laden sea conditions but also in more contained environments such as lakes, rivers and tailings ponds. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry. The business model is focused on Robix becoming a large-scale provider of services and/or equipment under licensing arrangements with other industry participants, wherein Robix will use its patented design solution.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
(October 20, 2015 - 9:03 AM EDT)
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