Completed Factory Acceptance Test and Now Working Toward Commercial Operations
DALLAS, TX / ACCESSWIRE / February 5, 2024 / Vivakor, Inc. (Nasdaq:VIVK) ("Vivakor" or the "Company"), a clean energy technology company focused on the oil remediation and natural resources sectors, is pleased to announce the completion of the factory acceptance tests for its Remediation Processing Center (RPC) in Houston, Texas.
The tests were done in conjunction with RK Energy and checked out all the Control Logic, Operating Screens, PLC controls, Plant Interlocks and all plant equipment/instruments/devices.
This represents a major milestone in moving forward towards operation. The Vivakor team is pressing forward to gain the necessary permits and access to power for the site, which are the final steps needed to get the RPC into commercial operation.
Vivakor Chairman and Chief Executive Officer James Ballengee commented, "This is a significant milestone and provides support for some of the rationale behind our acquisitions from the summer of 2022, as we believed in the synergies between the RPCs and our oil and gas expertise. We have now successfully completed the onsite Factory Acceptance Tests (FAT) on our Remediation Processing Center (RPC) located in Houston, Texas, and look forward to moving this unit into commercial operation."
Ballengee, continued, "We are excited to establish this first-of-its-kind center for processing and recovery of tank bottom sludge and other oil-industry waste. Millions of tons of this waste are generated annually, just within the U.S. and are typically treated with hardening agents and disposed of in hazardous waste landfills. The goal of our facility is to process this waste and recover and recycle the embedded oil - reducing the need to drill for new oil and preventing the waste from ending up in landfills."
Vivakor previously entered into a 10-year Land Lease Agreement, under which the Company agreed to lease approximately 3.5 acres of land in Houston, Texas (commonly known as The San Jacinto River & Rail Park, 18511 Beaumont Highway, Houston, Texas). When the RPC's main plant is fully operational, Vivakor's expectation is for processing 700 to 900 tons of raw material a day for an average of 600 to 800 barrels of crude production on average and production of 100's of tons of clean solids with less than 1% Hydrocarbons per 24-hour day.
As plant wide construction and main power to the facility finalizes along with the construction completion of the Wash Plant, the RPC will be ready to perform its final tuning using cleaning fluids and raw materials fed to it by the wash plant/raw material handling side.
Once operational, this will be Vivakor's first site to process tank bottom sludge and other oil-industry based waste. The plan for the facility is to recover the oil within the sludge utilizing its patented, environmentally-friendly RPC processing technology, which has been validated for the treatment of soil. Recent testing of the RPC technology at another site showed the treated soil Total Petroleum Hyrdrocarbons range was measured between 0.2% to 0.4%, which was well within the excepted range of TPH < 1%.
RPCs are designed, engineered and manufactured off site and then moved on site for construction and the Factory Acceptance Test.
About Vivakor, Inc.
Vivakor, Inc. (NASDAQ:VIVK), is a clean energy technology company focused on the oil remediation and natural resources sectors. Vivakor's corporate mission is to create, acquire, accumulate, and operate distinct assets, intellectual properties, and exceptional technologies. Its Silver Fuels Delhi, LLC, and White Claw Colorado City, LLC subsidiaries include crude oil gathering, storage, and transportation facilities, which feature long-term ten year take-or-pay contracts.
The Company's patented Remediation Processing Centers allows for the environmentally-friendly recovery of bitumen (heavy crude) and other hydrocarbons from the remediation of contaminated soils. It is believed to be the only remediation system that can clean soils with more than 5% by weight oil contamination while recovering the oil and leaving the soil fully viable for reuse. Once operational, its Remediation Processing Centers will focus on extraction from shallow, oil-laden sands, along with generating petroleum-based remediation projects in Kuwait and in Houston, Texas.
For more information, please visit our website: http://vivakor.com
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Investors Contact:
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info@vivakor.com
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SOURCE: Vivakor
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