Disruptive Technology that Can Turn Heavy Crude into Fuel
LAS VEGAS, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTC: VIVK), a technology and asset acquisition company with a focus in the area of natural resources, has recently passed a major milestone in the creation of its carbon nanotube technology, a joint venture with CSS Nanotech, for upgrading heavy crude to a fuel product.
The technology is advancing to its second phase of 3rd party testing, and engineering, that will create portable upgrading units to be deployed with Vivakor’s Remediation Processing Centers (RPCs) that process heavy crude extraction in Utah and in the Middle East. Both technologies are being manufactured in an Opportunity Zone. The Company is looking to continued development on the technology with potential deployment in the next 24 months.
“We are extremely excited for the next phase of this disruptive technology. The Carbon Nanotube sponge, invented by CSS Nanotech and licensed by Vivakor for the use in hydrocarbon upgrading, has the ability to change the entire supply chain or fuel creation and distribution,” stated Vivakor Chief Executive Officer Matt Nicosia. “After producing product in Utah successfully for two years, and now currently engaged in the extraction of heavy weathered crude in the Middle East, it is evident that there is a need for this upgrading technology to not only increase the value of the end product, but to increase our shareholder, and royalty holder returns. Our ultimate goal is to reduce the cost of fuel production from heavy crude to a tenth of the current industry cost, in a tenth of the time.”
“We are able to design advanced heat exchanger technology to generate value for many petrochemical processes using our three-dimensional carbon nanotube sponge materials as the heating elements. The efficiency of heat transfer we are witnessing is due to a volumetric heating method with the high surface area nanomaterial and will bring about compact units that can manage even the heaviest of crudes that most companies can’t deal with,” stated Vivakor Chief Scientific Officer Dr. Daniel Hashim.
About Vivakor, Inc.
Vivakor, Inc. (VIVK), a technology and asset acquisition company with a focus in the area of natural resources. Vivakor’s corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on bitumen (heavy crude) extraction from shallow, oil-laden areas in Eastern Utah, along with petroleum based remediation projects across the globe. The technologies utilized are low-cost, proprietary and proving themselves industry disruptive when measured by a number of important factors. The general business model has been to be an acquisition hub, focused on building and acquiring cash-flowing assets in discrete areas that have an acknowledged technological advantage and enable a substantial market opportunity within significant target markets across the globe. Our research, and the technology we acquire are anchored by our relationships with synergistic partners and product-specific commercialization strategies. From the point of product or technology conception, or through acquisition, development and commercialization, we expect to have strategic partners, joint ventures or licensing arrangements in place for many of our products in order to sustain revenue attainment.
For more information, please visit our website: http://vivakor.com
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