$Rig's Platinum Stock Alerts

[PrftTkr]

more GEAR news:

Gear International Inc. Announces Joint Venture Agreement with Contaminated Soil Solutions

Sep 10, 2015
OTC Disclosure & News Service

Pensacola, FL -
GearInternational, Inc. (OTC: GEAR) – Gear International, Inc. (GEAR) ispleased to announce that it has entered into an agreement with ContaminatedSoil Solutions, Inc., the owners of a proprietary soil remediation technologyknown as “CSS1000™”. This advanced technology consists of bothphysical equipment and intellectual property, including engineering programsand proprietary design software, which together form an effective andcost-efficient system for remediation of various forms of soil contaminationproduced by oil and gas exploration, as well as by other industries.

Pursuant tothe terms of the agreement, GEAR will receive 25% of the founder stock inContaminated Soil Solutions, Inc. in exchange for providing the capital andfinancing necessary to relocate the physical equipment from Oklahoma to Texas wherethe CSS1000™ technology is scheduledto be deployed for remediation of contaminated frac sand under a conditionalcontract. This single contract opportunityis scheduled to generate approximately $50 million in revenue over the first 36months of operation. The demand forCSS’s remediation services has precipitated a significant number of additionalcontract opportunities. To meet thecontract volume resulting from this exponentially- increasing demand forservices, additional CSS1000™ equipmentwill need to be fabricated and mobilized on an ongoing basis.

The CSS1000™technology was originally field tested in Canada and was successfullyutilized for washing formation production sand and drill cuttings under contractwith an oil company in Alberta. In 2010,a portion of the equipment was moved to Oklahoma to process hydrocarboncontaminated beach sand from the BP Gulf Oil spill. The system has proven to be both efficientand cost-effective.

The “green” CSS1000™ technology represents a continuous process wherebyheated water, mechanical separation, and nonintrusive chemistry is utilized toclean contaminated material. In additionto cleaning the contaminated material on a price per ton basis, substantialincome can be generated by the Company’s technology through the sale ofreclaimed and recycled drill cuttings, used Frac sand, and basic sediment andwater, resulting in substantial potential sales revenues for the Company.

GEAR’s CEO,Carlton Wingett, is quoted stating, “I am extremely pleased to announce this excitingpartnership between GEAR and Contaminated Soil Solutions. Scott Hastings, EltonTaylor, and the entire CSS management team bring decades of hands-on experiencein various segments of the oil and gas industry. The primary objective of thisjoint venture will be to rapidly relocate the equipment and deploy this “green”technology to jobsites, ultimately positioning CSS as a premiere provider ofsoil remediation and solid waste recycling.”

About Contaminated Soil Solutions,Inc.

ContaminatedSoil Solutions (CSS) has created a streamlined yet effective solids and fluidtreatment system that provides the oil and gas industry more sustainable wasteoptions. Our system will ensure a reliable treatment method that will help theproducer responsibly and economically manage their solids and fluids waste thatis generated from drilling and production operations. Website: http://soilsolutions.energy/

About Gear International, Inc.

Gear International(OTC: GEAR) is a public company that offers a viable and often creative fundingresource and joint venture opportunities for companies seeking unconventionalfunding, hard asset loans, expansion capital and/or other resources. Theobjective is to assist companies that are in a unique position to capitalize ona current trend or scale their operational business. By providing timelycapital and other resources, the management teams of our companies canaccelerate product launches, expand into new territories and often even pioneeran entire new category. Website: www.gear.international