Boca Raton, Florida, Feb. 18, 2014 (GLOBE NEWSWIRE) -- Poly Shield Technologies Inc., (OTCQB:SHPR) announces DNV GL to verify test results as an independent third party for the Poly Shield Technologies Inc.'s DSOX-15 Pre-Combustion Fuel Purification System on February 27, 2014. The DNV GL test verification results are anticipated early in March 2014. The results will be made available to the public and the maritime industry prior to the Cruise Shipping Miami Event, March 10-13, 2014. Chairman, CTO, Rasmus Norling, commented "The DNV GL's independent third party test verification of our results will provide corroborating evidence of the fuel desulfurization capabilities of the DSOX-15 Pre-Combustion Fuel Purification System on marine fuel oil products such as IFO380. The DSOX-15 is currently the most economical solution for achieving fuel oil with lower sulfur levels, which will be required in the upcoming 2015 maritime emissions regulations."
The cost of low sulfur Marine Grade Oil (MGO) continues to rise and for more than 65,000 ships currently using from 10,000 to 50,000 tons of IFO380 type fuel oil per ship annually, the price differential of $300.00 to $400.00 per ton for substituting MGO in place of IFO380 is not economically feasible. Other ideas such as substituting LNG for IFO380 have come with harsh criticism from many in the maritime industry, including John Denholm, president of the Baltic and International Maritime Council (BIMCO). Who shared his thoughts at the IMO's World Maritime Symposium in September regarding the maritime use of liquefied natural gas "LNG". Denholm stated, "In spite of recent optimism for the new fuel, LNG is not an option for most ships." Denholm sited the lack of infrastructure, distribution and the expense of retrofitting existing equipment as just some of the economic barriers to the use of LNG in the maritime industry, as reported by seatrade-global.com.
Poly Shield Technologies Inc. will continue updating the public on the Company's progress through its continued research, development, testing and implementation.
DNV GL in the Maritime industry
DNV GL is the world's leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry - across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges.
The International Maritime Organization IMO
As a specialized agency of the United Nations, IMO is the global standard-setting authority for the safety, security and environmental performance of international shipping. Its main role is to create a regulatory framework for the shipping industry that is fair and effective, universally adopted and universally implemented.
About Poly Shield Technologies Inc.:
Poly Shield Technologies Inc., develops and markets environmental, pollution emissions, energy saving, corrosion and durability solutions to a worldwide market.
Poly Shield Technologies Inc.'s proprietary DSOX-15 Fuel
Purification System is a cost-effective technology designed to
remove sulfur from fuel in an effort to meet the
upcoming sulfur emissions regulations due to take effect in 2015.
The technology is currently aimed at the maritime industry
which includes vessels for cruise-line, freight shipping and
tanker companies and can be installed during normal
vessel operation without the need to use expensive dry dock time.
The technology has a worldwide application that is not limited to
the maritime industry.
The Poly Shield's Fluoropolymer coatings are formulated specifically for extreme durability reduced maintenance and enhanced aesthetics and in use in a number of different industries applications.
On behalf of the Board of Directors, Rasmus Norling, Chairman / CTO
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that Poly Shield Technologies Inc. expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in Poly Shield Technologies Inc.'s Quarterly and Annual Reports filed with the United States Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should any of Poly Shield Technologies Inc.'s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Poly Shield Technologies Inc.'s forward-looking statements. Except as required by law, Poly Shield Technologies Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Poly Shield Technologies Inc. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.
SOURCE Poly Shield Technologies Inc.