October 23, 2008
Solucorp Signs Agreement With Marine and Waterways Solutions, LLC to Utilize MBS Technology to Remediate Marine and Waterway Heavy Metal Contamination Worldwide
Solucorp Industries, Ltd. (OTC: SLUP) has entered into an agreement with Marine and Waterways Solutions, LLC (MWS) to exclusively utilize Solucorp's patented Molecular Bonding System (MBS) technology to remediate heavy metal contamination found at marine and waterway industrial development locations worldwide. MWS is engaged in delivering environmental, renewable energy and sustainable development solutions to marine and waterway developments, ports, shipping operations and other related industries worldwide.
MWS has a teaming agreement with the global planning group, Maritime Transport & Logistics Advisors, LLC (Maritime Advisors), to focus on the remediation of marine and waterway locations worldwide. Together the two companies will promote the MBS technology in key markets and projects where Maritime Advisors has established working relationships and has key contacts for future projects. Maritime Advisors is a highly diversified, select group of professional affiliate consultants based in Fort Lauderdale, Florida with more than 400 years of combined experience in maritime transportation.Under the terms of this agreement, Solucorp will provide all the necessary sales and marketing materials (powerpoint presentations, brochures, MSDS sheets), technical support, and training to both MWS and Maritime Advisors to promote and recommend the MBS technology for use in heavy metal cleanups of contaminants such as lead, mercury, chromium, arsenic, and zinc at marine and waterway seaport locations. The Company will also sell to its partners the MBS chemical reagents required for all clean ups.
MWS will solicit marine and waterway project work, identify remediation contractors to become MBS remediation contractors, and attend meetings and tradeshows to further promote the MBS technology. MWS will be responsible for all funding associated with this new Limited Partnership agreement. Solucorp will maintain a 19.6 percent ownership in the Limited Partnership and receive cash profit participation distributions upon completion of projects, proportionate to its ownership percentage.
Steve Holmes, Chairman, Marine & Waterways Solutions, stated, "Solucorp's technology is the perfect solution for heavy metal contamination in port, marine and waterfront industrial developments. MBS will be used to cleanup contaminated soil and sediments as a result of years of industrial pollution. Growth in the maritime industry is not slowing, even in the face of the current economic adjustments. One of the most significant issues facing developers is soil contamination from heavy metals. With the established worldwide reputation of our partner, Maritime Advisors, it is our goal to help rapidly facilitate the deployment of Solucorp's MBS technology around the globe over the coming years."
"Steve Holmes has a proven track record and more than 24 years of experience in hazardous waste remediation, land use management, environmental engineering and corporate media consulting," states Noel E. Spindler, President of Solucorp's Integrated Fixation System subsidiary. "Maritime Advisors brings a wealth of experience and expertise to the table which we believe will lead to a highly successful and profitable partnership."
About Solucorp Industries Ltd.
Solucorp Industries Ltd., www.solucorpltd.com is a developer and provider of cost effective, permanent technologies for the remediation and prevention of hazardous heavy metal (including lead, mercury, arsenic, chromium, copper, zinc, nickel, selenium and cadmium) contamination. Solucorp is the owner of several patents and numerous additional patents that are pending. Solucorp Industries Ltd. has three wholly owned subsidiaries: Solucorp Industries, Integrated Fixation System Company, Inc., and WITS, Inc.
The foregoing discussion contains forward-looking statements, which are based on current expectations. Actual results, including the outcome of demonstration results, timing and amount of revenues recognized, contracts awarded and performed and net income may differ due to such factors as: delays in payment on contracts due to dealings with governmental and foreign entities; fluctuations in operating costs associated with changes in project specifications; economic and other conditions affecting the ability of prospective clients to finance projects; and other risks generally affecting the financing of projects. Investors are cautioned to perform a proper due diligence and consult-licensed professionals prior to making an investment decision.