HUGE NEWS
Solucorp Industries, Ltd. (Pink Sheets:SLUP) announced that its patented Molecular Bonding System (MBS) heavy metals soil remediation technology has passed all tests conducted by an independent laboratory in Italy, surpassing all other tested remediation technologies. The MBS process has been confirmed as the technology of choice for remediating heavy metals contaminated soil at an Orbetello, Tuscany site in Italy.
Solucorp received written notice of confirmation of its technology's selection from EARTH s.r.l., the engineering company in charge of the SI.TO.CO site in Orbetello. EARTH S.r.l. is a part of the Saico company in Arezzo, Italy.
The SI.TO.CO Orbetello remediation site, once awarded, will consist of 50 hectares (approx. 123 acres) and could reach $80 million in remediation revenue to Solucorp over the multi-year life of the project. Phase One of the project will include 10 hectares (approx. 25 acres) and is estimated to represent $16 million in remediation revenue. EARTH S.r.l. awaits final approval from the property owners and the Ministry of the Environment (the Italian equivalent of the U.S. EPA) in order to move forward on this project. The final approval is anticipated in the first quarter of 2007.
The SI.TO.CO site was declared a site of national interest by the Italian Ministry of the Environment. EARTH S.r.l. went on to request that arrangements be made for a meeting to define the course of operation for the first phase of the SI.TO.CO project.
EARTH S.r.l. stated that after extensive review of Solucorp's successful remediation at Ravenna, Italy, a decision was made by EARTH S.r.l. to review the applicability and effectiveness of Solucorp's MBS metal remediation technology on the Orbetello site. Numerous tests at an independent laboratory in Italy were made on soil samples provided by EARTH S.r.l. from the SI.TO.CO site and yielded the required results.
Solucorp is in the final stages of another high profile clean up at Ravenna, Italy, which to date has generated over $4.5 million in revenue for Solucorp. During the 16 months that Solucorp has been on site, a strong working relationship has been established with Syndial, the company whose land is being treated and Snamprogetti, the company who runs the reclamation division for the ENI S.p.A.
The MBS technology has performed flawlessly at the Ravenna site with results of the treated soil tests coming in well below the Italian regulatory limits. Using the Ravenna site as a showplace, Solucorp's work force in Italy has conducted tours on the site for new clients to view the operation. These contacts, and others that have been established through years of work with the leaders in the environmental field in Italy, have set the stage for future business in Italy. Many of those contacts have visited the Ravenna site. The result of these visits and the additional successful testing of six different projects in Italy has brought about the proposed use of Solucorp's technology at six successfully tested sites going through various stages of review to date.
Richard A. Runco, President of Solucorp, states, "Stringent European Union environmental regulations and the need for permanent soil remediation have set Europe as the immediate revenue producing frontier for Solucorp. The proven and cost effective MBS remediation technology in Italy makes Solucorp's patented remediation solutions highly desirable throughout Europe."
