Robix Provides Corporate Update
LETHBRIDGE, ALBERTA--(Marketwired - Jan. 31, 2017) -Robix Environmental Technologies, Inc. ("Robix" or the "Corporation") (CSE:RZX)(CSE:RZX.CN)(FRANKFURT:R0X)(OTC:ROBXF) is pleased to provide a corporate update on operations as 2016 has been a milestone year in growth and development.
In 2013 the C Series Clean Ocean Vessel was a patented concept and design drawings. Fast forward to today and the Company has expanded its product line to include oil spill response and recovery equipment as well as oil-water separation, cleaning & purification equipment. Today Robix' product line includes the original C Series, the P Series and the Hydro Cycle Water System. Throughout the year the Company has achieved the following significant milestones:
Robix completed a merger with Formation Fluid Management, and created its Clean Water Division. With the merger Robix is providing clients in Canada, Mexico, and around the world with a complete solution to their clean water needs.
Robix advanced discussions with key companies for significant multi-year contracts for its P and C Series product line. Robix expects 2017 will be a break-out year for its Oil Recovery Division.
Robix built and delivered the first C-160 to Mexico for testing by Pemex in November 2015. In 2016, the Petroleum Institute of Mexico successfully completed testing of the C-160.
As a result of the performance of the C Series, Robix was able to secure two contracts:
In June, Robix received a contract from T&M S. A. de C. V. of Villahermosa, Tabasco to build and own the C20 and train T&M staff to operate the equipment. Per the lease agreement T&M will pay Robix a total sum of to $29,700,409 MXN (approx. CAD$2,040,000). The contracted service will be paid monthly at a rate of $1,237,517.00 MXN (approx. CAD$85,000) for a term of 24 months once the C series is delivered. (est. Q1 2017)
Robix received a USD $50 MM expandable contract for multiple P140 oil recovery platforms to be deployed at PEMEX facilities. The Master agreement has a present value of a minimum of USD$50 MM and incorporates the leasing of multiple P140 units initially, with transaction instruments to increase the order size to a maximum of $250 MM. Delivery to commence Q3 2017.
Nathan Hansen, President & CEO of Robix, states: "Our successful dealings with PEMEX has brought us to the attention of other organizations in South America looking to engage in discussions for the deployment of multiple P Series oil recovery platforms. In addition, we have advanced discussions for the C Series unit in major international oil production and processing regions and our Clean Water Division is in advanced stages of numerous tenders and bids. 2017 will be our first revenue generating year, which is a significant milestone for the Company. Given the appetite that we have seen for our product line, we are excited about the potential for future growth in 2017 and I look forward to updating you on our progress."
Robix is focused on the worldwide market for oil containment, recovery and cleaning equipment specifically for the oil spill protection, oil production and water cleaning and purification industries. To that end, Robix has commercialized its C Series Clean Ocean Vessel and the P Series Stationary Platform; both are based on a patented revolutionary oil recovery technology. The C Series is a vessel that recovers oil in rough ocean waters, lakes, rivers and tailings ponds in virtually any conditions. The P Series is an oil recovery platform designed to accelerate oil recovery from settling ponds at production facilities. The Company also offers a suite of Hydro Cycle Water purification and cleaning products.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
Robix Environmental Technologies Inc.
President & CEO
Chief Financial Officer
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