Environmental Oil Processing Technology Corp. Completes Preliminary Engineering for Waste-Oil Processing Plants in Reno.
Company Moves Forward On 30 Million-Gallon Processing Facility
Environmental Oil Processing Technology Corp. (the "corporation") (OTC:EVOP) today announced that Redd Engineering and Construction Inc. (RCI; Salt Lake City), under contract to the company, has completed the preliminary engineering for the process plants to be constructed at its Reno, Nev. site.
Rough grading drawings are completed, and the company will let the grading contract as soon as the financing package and the required permits are obtained, estimated within the next 60 days.
With a rated output of 30 million gallons, the Reno plants will incorporate improved process technology developed by RCI, including an Emerson Process Management Delta V control system, similar to the Nampa plant. This is an integrated process control system with a single database.
Incorporating the latest digital buss technology, the Emerson Delta V system enables instrument configuration and diagnostics, as well as digital communication with field instrumentation and third-party software. In addition to simplifying configuration modifications, the system also includes automatic loop tuning.
The Reno facilities will also feature Emerson's Fisher division transmitters and other instruments provided by Emerson's Rosemount division.
"Our alliance with Emerson continues to be a very positive one, and we are delighted with Emerson's ability to provide top-grade equipment at favorable cost," said Tod Tripple, president and chief executive officer of EVOP.
Assuming adherence to the company's current construction schedule, the Reno facilities, which will include two process plants, truck and rail loading and unloading racks, water treatment plant, trans-mix process plant, shops, administrative and ancillary buildings, are expected to be ready for final testing and to commence operations during the fourth quarter of 2003.
Environmental Oil Processing Technology Corp., with its headquarters in Nampa, has developed a process and facilities, which minimize waste oil disposal, as it is known today. The company's plant utilizes proven technology to convert waste oil into environmentally friendly products such as naphtha (gasoline), #2 diesel, residuum, burner fuel and cogeneration.
For more information and a photo update, visit the company's Web site at www.environmentaloil.com.
NOTE: Statements in this release that are not strictly historical are forward-looking statements. The company makes these statements based on information available to it as of the date of this news release and it assumes no responsibility to update or revise such forward-looking statements.
Editors and investors are cautioned that such forward-looking statements involve risk and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements.
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|Date:||Jul 17, 2002|
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