CALGARY, ALBERTA--(Marketwire - Oct 22, 2012) - (TSX VENTURE:GNO)(GNOLF) Genoil Emirates announces that it has successfully obtained a Professional License to perform pollution and environmental protection services in the United Arab Emirates, and has been added to the Commercial Register in the Emirate of Dubai. Genoil Emirates is a jointly owned corporation between SBK Holding LLC ("the holding Company of His Highness Dr. Sheikh Sultan bin Khalifa Bin Zayed Al Nahyan") and Genoil Inc. ("Genoil") of Canada (see www.genoilemirates.com website). In a joint meeting with SBK Holding Board, The Chairman His Highness Dr. Sheikh Sultan bin Khalifa conveyed on behalf of SBK: "We are pleased that Genoil Emirates has received its license to operate in the United Arab Emirates and we are hopeful that Genoil''s technology will spread across the region and help preserve and improve the quality of our natural resources and further protect our environment for generations to come."
Genoil Emirates with this registration and license will commence its rollout in the United Arab Emirates using Genoil''s technologies, which include the GHU Hydro-conversion System, the Crystal oily water separators, the ports cleaning solutions, waste water management, Genoil fish farm cleaning technology, and sand cleaning for oil contaminated beaches. Genoil will also market these technologies throughout Middle Eastern and other countries.
Genoil Inc. further announces that its Crystal Sea Oil Water Separator that was being tested by Vela International Marine Limited (a division of Saudi Aramco) has performed successfully over a two year period on their "Janah Star", a two million barrel tanker, and that Vela has accepted a separator for purchase. Vela International has worked with Genoil over the past several years to assist in the proving of Genoil''s Crystal Sea Separator technology on its vessels in all the types of weather conditions on the high seas. These tests will form the marketing basis for the worldwide rollout of the Crystal Sea that shall commence immediately.
Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation, and marine technologies. Genoil''s shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.
Certain information regarding Genoil Inc., including management''s assessment of future plans, initiatives, operations, and the ability to successfully complete any initiatives may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with an oil and gas technology development corporation, including competition from other technologies and companies, and the ability to access sufficient capital to successfully develop the company''s business. As a consequence, actual results may differ materially from those anticipated. The Corporation assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements. Additionally, statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company''s ability to successfully execute on its projects. Further information on potential risk factors that could affect the company''s financial results can be found in the company''s disclosure materials filed on SEDAR at www.sedar.com and with the Securities and Exchange Commission.
- Investment & Company Information