Genoil Inc. Installs Larger Crystal Sea Separator on Board VLCC Tanker & Provides Update on Growing Interest in Genoil's Upgrader
Genoil is a technology development company providing solutions to the oil and gas industry through the use of proprietary technologies.
The Genoil Hydroconversion Upgrader can economically convert heavy crude oil into more valuable light refined products such as motor gasoline and diesel fuel, while significantly reducing the sulfur content in the oil. Genoil also has a patented Bilge water separator with a license agreement with a major Korean manufacturer.
Genoil's shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.OB.
WE HAVE 15 MILLION NON DILLUTIVE FINANCING
CALGARY, ALBERTA -- 06/23/09 -- Genoil Inc. (TSX VENTURE: GNO)(OTCBB: GNOLF) has announced the signing of a term sheet with a multi-billion fund for a $15 million financing for the Clarendon Genoil Crystal Sea joint venture. The off balance sheet financing will not be dilutive to current shareholders of Genoil. These funds will be utilized solely for the Clarendon Genoil joint venture company to finance the rollout of the Crystal Sea Units to various Ports. The proceeds of the financing shall be used to implement the utilization of Genoil's oily water separation technology to treat and clean bilge water. More specifically, the proceeds will be used for Crystal Sea installations on formal finalization of the MOUs at the three ports that have signed MOU's with Genoil -the Tangshan Port, Tianjin and Qinhuangdao Port. The proceeds can also be utilized for other Ports that the Clarendon team is in negotiations with. These three ports mentioned are some of the busiest and largest in China. The Genoil and Clarendon executives are currently working on converting the term sheet into a contract to cover all the specific legal details and nuances of the financing terms.
Genoil Chairman & CEO David Lifschultz states "this financing will allow Genoil to execute on the joint venture plan with Clarendon upon finalized agreements with the ports that Clarendon is working with. As one of the largest shareholders of Genoil, I am always excited when we can structure non dilutive financing options with strategic capital partners that allow us to achieve corporate milestones."
About the Financing Source
The multi billion fund is based in Europe and was formed to allocate assets and provide investment advice for several European billionaires who are members of the Forbes 2008 billionaires report.
The Company's mandate is to advise on investments around the world in private and public equity, special situations, real estate and funds of funds.
LATEST SHAREHOLDERS CONFERENCE CALL CAN BE HEARD USING THIS LINK
Genoil Inc. Announces Licensing and Manufacturing Agreement for Its Bilge Water Separator With Major Korean Manufacturer
3 hours ago - ACQUIREMEDIA
CALGARY, ALBERTA--(Marketwire - Jan. 15, 2009) - Genoil Inc. (TSX VENTURE:GNO)(OTCBB:GNOLF) today announced it has signed an exclusive licensing agreement with DongHwa Entec Co., Ltd. located in Busan, South Korea. Under the terms of the agreement, DongHwa will license, for a five year period, Genoil's Bilge Water Separation technology for all ships, industrial fields and off-shore rigs manufactured or retrofitted in Korea, China and Japan. Additionally, DongHwa will also build the Genoil Bilge Water Separator units for sale by Genoil.
DongHwa is recognized globally as one of the leading manufacturers of heat exchangers and related multi-stage water generators for a number of industries including marine. David Lifschultz , Genoil's Chairman and Chief Executive Officer, said "We are very pleased to be working with DongHwa as our marketing and manufacturing partner. DongHwa accounts for the majority of all marine heat exchangers used in ships. For example, in both Korea and China they account for 70 percent of the shipping industry's heat exchangers and in Japan that rate is 60 percent. This bodes well for us as DongHwa is positioned to use its leverage to book bilge cleaner sales.
"Thus, this agreement is a testament to our industry leading oil/water separation technology. In addition, we believe this is the beginning of higher worldwide demand as boat manufacturers, shipping companies, ports and other users of the world's waterways look at Genoil's oil/water separation units as the leading technology to limit the amount of oil entering the ecosystem. The DongHwa agreement is an important milestone in the evolution of Genoil, as we are working hard to transform Genoil into a profitable company focused on increasing shareholders' value.
"Based on the continual sales activity for both the GHU Upgrader and Crystal Sea Separator products, we are now at a point in organizing manufacturing facilities for regional locations to reduce transportation costs and expedite deliveries by shorter shipping distances. With DongHwa covering the Pacific Rim, we are in the process of determining other low-cost manufacturing centers to serve (1) the Caspian Sea area, (2) Europe, and (3) other major markets. As a result, this will allow Genoil to efficiently manufacture and ship at competitive prices."
SOMETHING VERY INTERESTING FROM TOBY SMITH
I’ve known about this tiny company for a few years now.
Back then, its chairman gave a presentation at an investment conference, and my impression was that if this company could accomplish its goals, then the stock would trade at $100 someday.
Well, the company has moved light years ahead in its research and development since that day. And in 2007, management took several key steps to prepare for the full commercialization of its technologies — which will lead to a big jump in revenue.
But the stock is still trading under Wall Street’s radar — something we expect to change in 2008.
So you can still pick it up for under $1 per share. And someday, I still believe, we may see that $100 stock.
Opportunity from disruption
As I write, oil prices are stuck stubbornly high — and we see little change in the years ahead.
If you’ve been with me for a while at ChangeWave Investing, you know we’ve made some nice, fat profits from the disruption caused by our oil crisis — in solar stocks, traditional oil services and the “tar-sands” stocks like Suncor (+99%), Connacher (+87%) and UTS Energy (+149%).
I mention tar-sands, because it relates, in a way, to the tiny company I want to tell you about today.
The tar-sands companies took an “unusable” product — oil-soaked sands — and developed various technologies to release the good oil trapped inside these sands. And we’re going to need more and more innovative technologies like these.
You see, whether we want to hear this or not, Peak Oil is very real — the world’s oil production will soon be on a downward spiral, while the worldwide demand for energy just continues to grow.
In fact, with the developing world enjoying rapid economic growth, energy demand will SOAR for decades to come. That guarantees oil prices will continue to rise.
It’s a dire situation. Conservation and alternative energy sources will help some. But oil will remain our primary energy source for many years to come.
But of the world’s proven reserves, some 70% of that — 900 million barrels — is in the form of much less useful “heavy crude.”
And that’s where your next huge wealth-building opportunity is coming from. I’ll share the highlights here. For all the details, click any link to join me at ChangeWave MicroCap Investor.
Making heavy oil light
Heavy oil is very thick; it doesn’t flow easily. Plus, it is badly contaminated with undesirable compounds like sulfur and heavy metals. It’s nearly useless in its natural state.
As you might imagine, with the world running low on the “good stuff,” a whole industry has sprung up to turn heavy oil deposits into the sweet crude our economies crave.
So why should this little company become one of that industry’s winners?
1. Because it holds a couple of key competitive advantages over the rest of the field. The company focuses on crude right out of the ground, using its proprietary technology to upgrade the crude before it is shipped to the refinery. And unlike competitors, its technology processes the heavy crude in one single pass — keeping capital costs low.
2. The technology works exceptionally well — getting rid of the sulfur, getting rid of the contaminants — and turning thick, heavy crude into light, usable transportation fuels.
Frankly, this stock is an undiscovered gem — but it won’t stay that way for long. And just a small investment now — just a little risk capital — could become a small fortune over the next couple of years… and perhaps a very large fortune in later years as well.
Ready for prime-time?
This company has taken its technology through years of testing, and now it’s ready for prime-time.
In fact, in November 2007, management announced stellar test results, working with a major Chinese oil producer. Now they’re working with their Chinese partners to integrate their technology into the overall refining process. The engineering and design study will soon be under way — with a startup date of 2010 for China’s first major heavy oil upgrader.
What’s more, management has smartly partnered with a major engineering and construction firm — giving this tiny company the ability to tackle multiple complex projects at once. Plus, they get immediate access to the global market through this major firm’s marketing efforts.
That’s why I say the time to buy is now — right at the inflection point where a proven superior technology turns into a viable commercial enterprise.
Management has been working towards their payoff for years — now we get to tag along on their rocket ride.
No effort required — just a little risk capital.
Note the word “risk.” This is, after all, a tiny microcap we’re talking about. Nothing’s guaranteed.
But as I said earlier, you can still buy it for under $1 a share. And I still believe — if management executes this right — the company could be worth $100 a share someday.
In any event, as commercialization of this technology — along with revenues and profits — starts getting noticed on Wall Street, we could easily see 300%-500% gains sometime in the next two years.
NEWEST HEADLINES FOR GENOIL INC
Interview with Genoil's COO, James Runyan
The Wall Street Transcript – December 2007
Genoil and Aquamation Announce Commencement of Work -- Wednesday December 5, 6:17 am ET
Companies to collaborate on two Nigerian Gas Company (a wholly owned subsidiary of Nigerian National Petroleum Company) Natural Gas Metering Facilities for Zakhem Construction
GENOIL AND AQUAMATION FORM GLOBAL STRATEGIC ALLIANCE -- Nov 27, 2007
Calgary, Alberta, Canada — November 27, 2007 — Genoil Inc. (TSX.V: GNO; OTCBB: GNOLF) announced today that they have executed a Joint Operating Agreement with Aquamation Inc., to collaborate in industrial water treatment projects & process plant projects for clients in the oil and gas and petrochemical industries.
CALGARY, ALBERTA--(Marketwire - Nov. 13, 2007) - Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) previously issued convertible promissory notes (the "Notes") to certain Note holders pursuant to a Note and Warrant Purchase Agreement entered into by and among the Note holders and Genoil as of December 23, 2004 (the "NWPA").
Genoil has entered into a Cancellation Agreement (the "Cancellation Agreement") with a major Note holder, whereby each of the Notes held by such holder, representing a principal amount of $4,902,800, and the NWPA, as it relates to such holder, will be cancelled in exchange for the issuance of 2,785,681 Class A preferred shares in the capital of Genoil (the "Preferred Shares"). Each Preferred Share may be convertible into four common shares of Genoil at the election of the holder and the Preferred Shares are redeemable by Genoil at any time at a price of $1.76 per Preferred Share.
GENOIL INC. AND HEBEI ZHONGJIE PETROCHEMICAL GROUP COMPANY ANNOUNCE RESULTS OF HEAVY OIL UPGRADING TEST -- Nov 07, 2007
Edmonton, Alberta, Canada. – November 7, 2007 - Genoil Inc. (TSX.V: GNO; OTCBB: GNOLF) and Hebei Zhongjie Petrochemical Group Company Ltd. ("HZ") are pleased to announce the result of the successful test run of HZ’s heavy crude and residual oil blend using the patented Genoil Inc. GHU® technology.
CALGARY, ALBERTA--(Marketwire - Oct. 31, 2007) - Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) is pleased to announce that the Canadian Intellectual Property Office has approved a patent application relating to Genoil's innovative upgrading technology, the GHU(R) (Genoil Hydroconversion Upgrader).
Genoil Inc. Announces Closing of Private Placement; Genoil and Hebei Zhongjie Petrochemical Group Hydroconversion Project on Schedule Jul 10 2007
GENOIL INC files Form 20-F, Annual and Transition Report (Foreign Private Issuer) Jun 28 2007
Genoil Inc. Announces Closing of First Tranche of Over-Subscribed Private Placement Jun 27 2007
Genoil Inc. Announces Issuance of Shares Jun 20 2007
Fifty Companies Representing Twenty Industries Set to Present At the RedChip Small-Cap San Francisco Investor Conference May 29-30, 2007
GENOIL INC files Form 6-K, Report of Foreign Issuer May 30 2007
Genoil Inc. Announces Bridge Financing May 30 2007
Fifty Companies Representing Twenty Industries Set to Present At the RedChip Small-Cap San Francisco Investor Conference May 29-30, 2007
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