EVTN Voraxial Team From Ft. Lauderdale, Florida Finalist in the $1.4 million Wendy Schmidt Oil Cleanup X Challenge
FORT LAUDERDALE, Fla., May 25, 2011 /PRNewswire/ — Enviro Voraxial Technology, Inc. (OTCQB: EVTN) announced today that their company team, Team VoraxialÃ‚®, will move forward to the final phase of the $1.4 Million Wendy Schmidt Oil Cleanup X CHALLENGE. The X PRIZE Foundation, the leading nonprofit organization solving the world’s Grand Challenges of our time by creating and managing large-scale, global incentivized competitions, designed by the challenge to inspire entrepreneurs, engineers and scientists worldwide to develop innovative, rapidly deployable and highly efficient methods of capturing crude oil from the ocean surface. The X CHALLENGE was launched in July 2010 in the wake of the Deepwater Horizon Oil Spill in the Gulf of Mexico.
The compactness, light weight and low energy requirements of the Voraxial enables it to be installed on new vessels or retrofitted on existing vessels for oil spill response. Additionally, similar to other auxiliary equipment on vessels such as firefighting hoses, the Voraxial’s small footprint allows it to be secured on vessels, such as tug boats and supply vessels, without interfering with the main function of the vessel. Multiple Voraxial 8000 models, each capable of processing 7,000,000 gallons of oily water per day, can easily be retrofitted on an average size supply vessel or tug boat and quickly convert them into a high volume oil spill recovery vessel. To put this in perspective, an average supply vessel equipped with 3 Voraxial 8000 Separators can capture, process and separate over 20 million gallons of oily water per day.
Last year’s oil spill in the Gulf of Mexico was estimated to be 2.1 million gallons per day (50,000 barrels). The spills damage to the environment could have been significantly mitigated if vessels equipped with Voraxial Separators were deployed immediately.
“We are proud to be advancing to the finals in this competition,” stated Laura Di Bella, Vice President of Marketing and Investor Relations for EVTN. “We believe that the Voraxial is an integral tool for oil spill recovery and are excited that the judges at X PRIZE Foundation have validated our technology. We are obviously in it to win, but at the end of the day, the real winner will be the environment.”
During Phase I of the competition, teams across the globe submitted their ideas to clean up oil spills quickly and effectively. Judges evaluated proposals based on the following criteria:
- technical approach and commercialization plan
- no negative environmental impact
- scalability of and ability to deploy technology
- cost and human labor of implementation
- the improvement of technology over today’s baseline booms and skimmers
The top 10 teams, including Team Voraxial, will advance to Phase II Finals, where they will demonstrate their ability to efficiently and rapidly clean up oil on the ocean surface in a head-to-head competition. These proofs of capability, which will determine the winner, will take place this summer at OHMSETT – The National Oil Spill Response Research & Renewable Energy Test Facility in New Jersey. The team that demonstrates the ability to recover oil on the sea-water surface at the highest oil recovery rate (ORR) above 2,500 gallons per minute with an oil efficiency (ORE) of greater than 70 percent will win the $1 million Grand Purse. Second place will win $300,000 and third place will win $100,000. Additionally, Shell has committed to work with the X PRIZE Foundation to involve oil industry experts and other industry leaders to promote, utilize and bring the winning technologies to market.
For more information on Team Voraxial, please visit www.evtn.com.
For additional details on the Wendy Schmidt Oil Cleanup X CHALLENGE, visit http://www.iprizecleanoceans.org.
ABOUT ENVIRO VORAXIAL TECHNOLOGY
Enviro Voraxial Technology, Inc. (OTCQB “EVTN”) is a Fort Lauderdale, Florida based CleanTech company that developed and manufactures the Voraxial Separator, a highly efficient technology for high volume, bulk separation of fluids such as oil and water.
The Voraxial Separator is a unique, patented, in-line, continuous-flow separator capable of pumping and simultaneously separating up to three components, such as oil, water and sand. It’s a mechanical separator that separates contaminants at high volumes with less space, energy, weight and cost than conventional equipment. The Voraxial Separator benefits include: high volume/small footprint, no pressure drop requirement, two-way or three-way separation, ability to handle fluctuations in flow rate and oil concentration without any adjustments, high “G” force and less maintenance than conventional equipment. These benefits result in significant acquisition and operating cost savings to the customer. The Voraxial may stand alone or serve to enhance the capabilities of other environmental or energy technologies.
The separation market encompasses a series of multi-billion dollar segments including: oil and gas exploration and production, refinery, tar sands, mining, oil spill, wastewater treatment, manufacturing, remediation and much more. EVTN was originally founded as a high precision aerospace manufacturer that built the gyro platforms for the Hubble space telescope as well as missile and satellite components. EVTN owns significant intellectual property surrounding the Voraxial. For more information, please visit www.evtn.com.
ABOUT THE WENDY SCHMIDT OIL CLEANUP X CHALLENGE
The Wendy Schmidt Oil Cleanup X CHALLENGE is a $1.4 Million competition designed to inspire a new generation of innovative solutions that will speed the pace of cleaning up seawater surface oil resulting from spillage from ocean platforms, tankers, and other sources. It is a one-year competition with head-to-head competitive demonstrations taking place at the National Oil Spill Response Research & Renewable Energy Test Facility (OHMSETT) in Leonardo, New Jersey, USA (www.ohmsett.com). A $1 million prize will be awarded to the team that demonstrates the ability to recover oil on the sea surface at the highest oil recovery rate (ORR) and the highest Oil Recovery Efficiency (ORE).
ABOUT THE X PRIZE FOUNDATION
Founded in 1995, the X PRIZE Foundation is the leading nonprofit organization solving the world’s Grand Challenges by creating and managing large-scale, high-profile, incentivized prize competitions that stimulate investment in research and development worth far more than the prize itself. The organization motivates and inspires brilliant innovators from all disciplines to leverage their intellectual and financial capital for the benefit of humanity. The X PRIZE Foundation conducts competitions in four Prize Groups: Education & Global Development; Energy & Environment; Life Sciences; and Exploration (Ocean and Deep Space). Prizes won include the $10 million Ansari X PRIZE for private, suborbital space flight; the $10 million Progressive Insurance Automotive X PRIZE for creating safe, affordable, production-capable vehicles that exceed 100 MPG energy equivalent (MPGe); and the $2 million Northrop Grumman Lunar Lander X PRIZE CHALLENGE for advanced rocket development. Active prizes include the $30 million Google Lunar X PRIZE, the $10 million Archon Genomics X PRIZE, and the $1.4 million Wendy Schmidt Oil Cleanup X CHALLENGE. For more information, visit www.xprize.org.
Safe Harbor Disclosure — This Press Release contains or incorporates by reference “forward-looking statements,” including certain information with respect to plans and strategies of Enviro Voraxial Technology, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Enviro Voraxial Technology, Inc’s. belief, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Enviro Voraxial Technology, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Enviro Voraxial Technology, Inc. and its subsidiaries to differ materially from those indicated by such forward-looking statements.
SOURCE Enviro Voraxial Technology, Inc.