Genoil Inc, the publicly traded clean technology engineering company for the petroleum industry, today announced it has signed a tri-partite science, research and technical cooperation agreement with two leading Russian institutions.
Genoil has joined forces with the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry, located in Bashkortostan, Russia, and the OJS «VNIIUS» Institute, located in Tatarstan, Russia to establish a world class partnership. The scope of the agreement is to research, develop and market cutting-edge technologies and patents both in the Americas and globally. The partnership will focus on the petrochemistry, petroleum refining and gas chemistry industries where, through joint co-operation and a wide base of expertise, the parties саn add significant value to client proposals.
The agreement combines Genoil’s leading sulfur removal GHU technology with the latest and most advanced scientific pilot testing and R&D center in the world, utilizing the sophisticated and cutting-edge equipment and tools of the respective Institutes. Genoil’s GHU is an advanced upgrading and desulphurization technology, which converts heavy or sour crude oil into much more valuable low sulfur oil, for a low cost.
In particular, the group’s activities will be concentrated on designing a low-cost desulfurization project to meet IMO 2020 sulfur legislation, solutions for complex oil and gas refining challenges; the upgrading of petroleum for transportation and processing, including the removal of sulfur compounds; catalytic processes of fuel production; processing of hydrogen sulfide into elemental sulfur; and the procurement, construction and start-up of projects.
Bruce Abbott, COO of Genoil, commented: “This is an exciting partnership and represents yet another significant step forward for Genoil’s innovative technology. All three parties are leaders in their respective fields of engineering technology and R&D, and our combined expertise will allow us to bring to market new innovations and technologies to further transform an industry experiencing significant change.”
The partnership has already received HSFO oil from a shipping client which is being tested at the UFA. The UFA is the sole government Institute specializing in refining and heavy residues processing technologies.
The Institute of Petroleum Refining and Petrochemistry has built a leading reputation within the industry, and has more than 60 years’ experience in the field of hydrocarbon processing technologies. OJS «VNIIUS» is one of the foremost research institutes in Russia with over 50 years’ global experience of providing services to oil and gas production and processing companies. OJS «VNIIUS» has also worked closely with deep oil processing organizations, particularly in relation to the removal and conversion of H2S and mercaptans.