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Genoil Hydroconversion Unit Economics Show Fast ROI for Existing Bunker Port Installations
Genoil Hydroconversion Unit Economics Show Fast ROI for Existing Bunker Port Installations.
About this update from Genoil Inc.
[{"type":"text","content":"\n \n \n Genoil Hydroconversion Unit Economics Show Fast ROI for Existing Bunker Port Installations\n \n \nGenoil Hydroconversion Unit Economics Show Fast ROI for Existing Bunker Port Installations\n\nGHU Receiving Significant Interest from the Shipping Industry as a Viable and Cost Effective Solution to Meet 2020 0.5% Global Sulphur Cap With ROI in Three Months\n\n \n CALGARY, ALBERTA--(Marketwired - May 16, 2017) - Genoil Inc., (OTCQB:GNOLF), the publicly traded clean technology engineering company for the petroleum industries, today announced compelling economics for the Genoil Hydroconversion Upgrader (GHU),for installations where there is existing infrastructure. As well as being more affordable for the shipping industry, the unit, which can produce one million tonnes per year of 2020 compliant low sulphur fuel oil, can also provide a return-on-investment in as little as three months with current market spreads.\n The GHU can be built alongside existing refinery infrastructure in major bunkering hubs rather than incurring the costs to develop and build all new infrastructure. The GHU unit costs between $30 million and $80 million to install per one million tons per year of capacity. Based on Genoil's predicted crude prices, which have been reviewed by independent bodies, an initial investment of $30 million could achieve payback in less than three months. Indeed at current levels, based on a spread between HFO and distillates of $179.78, and inclusive of Genoil's process fee, margins per metric tonne (MT) would be $123.78, equating to monthly profits of $11,701,789 based on a production capability of 94,537 MT per month. The shipping industry currently consumes over 320 million tonnes of bunker fuel per annum. \n The GHU would also take up significantly less space than full refinery unit, measuring as little as 50m x 80m. The low cost and small footprint mean the GHU can easily be installed wherever adequate existing infrastructure exists, such as in major bunkering hubs worldwide. \n Genoil's GHU is the most conservative compliance solution, because it uses a considerably improved patented fixed bed reactor technology. Critically, the GHU removes sulphur from Heavy Fuel Oil (HFO) at an extremely low cost, without altering the fuel quality, to produce low sulphur fuel oil, compliant with new MARPOL Annex VI regulations, whi...