 |
|
Oilweek Magazine
|
 |
Oilweek subscribers can click on the cover to access their full-version digital copy of the current edition of the magazine.
|
|
| |
| Subscribe Now! |
| |
 |
|
| |
Click here to view a free sample digital edition of Oilweek magazine. As a paid subscriber, all issues of the magazine, including back issues, are online for you to read, search, and reference. |
|
|
| |
|
|
|
|
Latest Headlines
|
|
|
Nov 26, 2009 12:59:00 PM MST
Sonic sells Terra Kleen soil cleanup technology for $1.5 million to British company (Sonic-Terra-Kleen)
|
|
VANCOUVER _ Sonic Technology Solutions Inc. (TSXV:SNV), a Vancouver-based company that focuses on heavy oil upgrading technology, says it has entered into an agreement with Energy Invest Group Ltd. to sell its Terra-Kleen soil cleanup business for $1.5 million plus future royalties.
Under the agreement, announced Thursday, Energy Invest will buy the Terra-Kleen process, which extracts organic pollutants such as PCBs from soils and other wastes.
In addition to the purchase price, Energy Invest will pay between $10 and $25 in royalties to Sonic for each tonne processed using the Terra-Kleen system.
"This agreement provides Sonic with an immediate return on its environmental assets and shifts its focus to the near term development and commercialization of the PetroSonic heavy oil upgrading business," said Richard Wadsworth, Sonic´s president and CEO.
"With (Energy Invest)´s international environmental project contact base and its other environmental technologies they will be in a much better position to capture projects and generate revenue to which Sonic will receive an ongoing percentage."
The Energy Invest Group, based in London, England, develops environmental cleanup technologies. The company also has businesses in bio- and synthetic fuels, gas processing, crude oil cracking, tidal power, and enhanced oil recovery. Energy Invest focuses on industrial applications in Europe, Middle-East & Africa.
|
|
|
|
|
|
|
