Vivakor Announces Oil Reclamation MOU
Vivakor Announces Oil Reclamation MOU
LAS VEGAS, NV --(Marketwired - February 08, 2018) - Vivakor Inc. (OTC PINK: VIVK) announced today that it has engaged Inland Recycling, LLC (Inland) in a Memorandum of Understanding (MOU) for joint, oil reclamation services throughout the US. Inland owns and operates a permitted oil reclamation processing facility dedicated to the recovery and distillation of oil from various sources.
Vivakor will provide advanced technological oil-separation resources to the current operation. The Inland Recycling facility is located on a 20-acre site near Altair, Colorado County, Texas. The facility is strategically located within the greater Texas gulf coast industrial zone, which includes the Houston Ship Channel, Matagorda Bay and the emerging Corpus Christi complex. Inland contracts logistics services through numerous national tank carriers, local carriers, environmental service companies, and tank rental companies throughout the U.S. The materials processed at this site are Used Oil (lube oil), oil/water mixtures, diesel/heavy fuel oil/residual fuel oil mixtures, tank bottoms, oil-water mixtures, and crude oil/refinery petroleum fraction products and co-product materials that are not solid wastes.
Mr. David Polston, CEO and Founder (Inland) has pioneered and patented the conversion of E&P generated waste streams into a recycled environmentally-safe cement-stabilized road base. Polston's understanding of material handling and compliance with EPA regulations under the Code of Federal Regulations created the first codified pathway characterizing road base mix as non-hazardous oil and gas recycled product. In 2002 Polston was granted the first permit by the state of Texas to convert oil and gas non-hazardous wastes into an environmentally safe product. Inland utilizes established industry best practices as per written policies and procedures, including Spill Prevention, Control and Countermeasure (SPCC) plan, Storm Water Pollution Prevention Plan (SWP3), Material Acceptance Plan, and Safety Manuals. The Company has seven (7) patents in the US and abroad.
Vivakor Chairman and CEO Matt Nicosia said, "The relationship with Dave and Inland Recycling enables Vivakor to provide its technical expertise while expanding our revenue streams further as we process hundreds of thousands of tons of material and clean oil-waste in the US. Vivakor is committed to revenue diversification as it continues to expand its presence here in the US. As recently announced, our latest technological enhancements are effectively positioning us in support of multiple projects while driving our commitment to increasing shareholder value."
Vivakor is an asset acquisition company that procures, develops and commercializes revenue producing assets across the globe. These holdings include intellectual properties that are proprietary and largely disruptive while centered principally in the natural resources sector.
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