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UAT Group’s Subsidiary, H2O Processing, Announces Second Contract Valued Over $15.4 Million
UAT Group’s Subsidiary, H2O Processing, Announces Second Contract Valued Over $15.4 Million.
About this update from Umbra Applied Technologies Group, Inc.
[{"type":"text","content":"\n Denver, CO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) subsidiary, H2O Processing, announced today that it has been contracted by Synergy Crude LLC to treat iron contaminated crude oil. Under the agreement, H2O Processing will treat an anticipated 1,500 bbls daily based on existing production. The contract specifies a reduction in iron contamination to under 10 ppm minimum so that product may be retailed to a U.S. pipeline. The newly signed agreement outlines an increase in production of up to 8,000 bbls a day totaling an estimated $15.4 million dollars in annual service contracts. Initial anticipated monthly production is valued to begin at an estimated $250,000. This contract is in addition to the contract announced last week. In total H2O has announced two contracts this month totaling over $30 million. H2O Processing Chief Executive Officer, Stan Abrams stated, “We are excited about the ability to provide a proprietary technology that solves a major problem for the oil industry. We continually strive to meet challenges and problems in the treatment of water and oil industries”. H2O Processing is a manufacturing, research and engineering company, with extensive experience in the water treatment industry. With an expanding portfolio of intellectual property, the H2O team has just recently begun its expansion as a full-provider and manufacturer of mobile on-site and fixed commercial water and oil treatment solutions.  Synergy Crude LLC is based in Yoakum Texas with longstanding operations within the state spanning decades. Synergy is yet another U.S. oil production company effected by oil refineries recent move to significantly restrict the iron content and oxygenates of crude oil they accept. H2O Processing’s entrance into this sector introduces a much-needed solution, offering a reprieve to many oil producers that, until now, were unable to sell their oil into the pipeline. With H2O Processing’s proprietary treatment systems, the iron content and oxygenates can now be reduced and sold. H2O Processing maintains the only state-wide permit in all 77 counties of Oklahoma, to treat deleterious water to non-deleterious water. The mobile platforms are fully automated and can be managed remotely by either H2O Processing from their headquarters in De...