Denver, CO, July 13, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) subsidiary, H2O Processing, announced today that it has successfully tested a new crude oil treatment technology that removes metal ion particulate reducing costs of oil refining and reducing the environmental impact of refineries.
Chief Executive Officer of UAT Group stated, “This new technology should drastically reduce refinery penalties thereby reducing operator costs and increasing operational margins for oil producers. This further highlights our commitment to environmental initiatives, as well as bolsters our growing stable of clean technology intellectual property. This is truly a paradigm shift in fossil fuel energy production that demonstrates how green initiatives are not only the responsible way forward but can also be more profitable”.
The removal of metals and sulfur during the refining of crude oil carries with it specific challenges. The techniques currently used to process crude oil are expensive, energy inefficient, environmentally unfriendly and quite often are the bottleneck in the process. Soluble sulfur and metal compounds containing vanadium and nickel are the most challenging to manage leading to complications such as environmental pollution, elevated corrosion, potential human exposure, human health impact and rapid catalyst deactivation. Metals in crude oil further carry the potential of interfering with the oil refining processes through excessive coke formation which is why many refineries will not accept heavy crude with high ion count.
Currently, many oil producers that exceed an iron range of 0-10 ppm are penalized between $10-$40 per barrel of oil with producers providing in excess of 500 ppm being rejected entirely. Many oil producers are left stuck holding and storing oil that cannot be sold or refined. The newly developed technology by H2O Processing, Inc resolves this currently global issue.
The proprietary technology and process developed by H2O Processing is environmentally friendly and cost-effective with little to no impact on oil yield. This is a technology that is not only “green” but makes it more profitable to produce energy in a more efficient and responsible way.
H2O Processing CEO commented, “We have developed a way to incentivize an industry to produce in a manner that is friendlier to the environment by making it more profitable to do so. It truly is a significant step towards environmentally responsible energy production. This technology in combination with our existing water treatment systems provides a one-stop solution to the most challenging environmental obstacles that most oil producers have to contend with”.
H2O Processing expects to deliver a full-scale mobile version of this technology to its first customer within 90days.
For more information about H2O Processing, Inc. visit: https://h2oprocessing.com/
For more information visit www.uatgroup.com
Investor and Media Contact: info@uatgroup.com
About H2O Processing, Inc.
The company is located in Denver, CO and is an advanced water treatment technology company.
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Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and/or a secondary listing as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are
subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of H2O Processing including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. H2O Processing does not assume the obligation to update any forward-looking statement, except as required by applicable law.
