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UAT Group’s Subsidiary, H2O Processing, Announces Up to $15 Million in Crude Oil Iron Removal
UAT Group’s Subsidiary, H2O Processing, Announces Up to $15 Million in Crude Oil Iron Removal.
About this update from Umbra Applied Technologies Group, Inc.
[{"type":"text","content":"\n Denver, CO, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) subsidiary, H2O Processing, announced today that it has been contracted by Bellows Operating Salt Water Discharge (BOSWD to treat heavily iron contaminated crude oil. Under the agreement, H2O Processing will treat a minimum of 1,000 barrels of crude oil daily with an anticipated 1,500 bbls daily based on current production. The newly signed agreement allows for increased production of up to 8,000 bbls a day totaling more than $15 million dollars in annual revenue. Initial anticipated monthly production is valued to begin at more than $240,000 a month. H2O Processing Chief Executive Officer, Stan Abrams stated, “We are pleased to have BOSWD join H2O Processing to extract iron from the crude oil.  We have developed a unique process that successfully extracts the iron from the crude and BOSWD company will aid in the process by being the service agency to operate the mobile processes onsite making sure H2O’s proprietary equipment performs as designed” 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.  BOSWD is based in Texas with extensive operations throughout the State of Texas. Gary Bellows, President of BOSWD LLC, stated “Oil refineries have significantly restricted the iron content and oxygenates of crude oil before they accept crude oil to be refined.  Until H2O developed this process, significant amounts of oil were not accepted by the refineries or accepted at a reduced price. Now with H2O, the iron content and oxygenates can be reduced and sold. We are delighted to begin to offer this service and see the potential for significant expansion beyond this initial contract with H2O.” H2O Processing’s mobile water treatment platform concluded field testing within Oklahoma and has been awarded the only state-wide permit in all 77 counties, to treat deleterious water to non-deleterious water. The mobile platforms are fully automated and can be managed remotely by either H2O Processing...