The catastrophic oil spill in the Gulf of Mexico has generated an increased interest on Enviro Voraxial Technology Inc. (OTCBB: EVTN) offering and expertise. As a result, the Company’s stock price increased nearly 120% from $0.38 on April 30, to $1.04 on June 18. The price growth was accompanied by a solid increase in trading activity with average daily trading volume exceeding $300,000 in June compared to $50,000 in May.
The company has developed and patented the Voraxial® Separator, a technology that separates large volumes of liquid/liquid, liquid/solids or liquid/liquid/solids fluid mixtures with distinct specific gravities. EVTN believes that the superior separation quality is achieved in real-time, and in much greater volumes, with a more compact, cost effective and energy efficient machine than any comparable product on the market today. The Voraxial® Separator’s unique characteristics allow the technology to be used in various industries for many different applications, including oil spill recovery.
EVTN recently announced that British Petroleum notified EVTN that it is reviewing Voraxial® Separator technology for possible application to its oil spill response program. According to management a single Voraxial® 4000 Separator, EVTN’s medium size model, can separate over 700,000 gallons of oil/water mixture per day. EVTN’s largest model, the Voraxial® 8000 Separator can separate over 5 million gallons of oil/water mixture per day. BP estimated that it could stop the leak entirely in August and by that time the total amount of oil discharged will be approaching 2 million barrels or 84 million gallons. BP estimated that approximately 200,000 barrels have been collected so far, which represents approximately 10% of the total expected amount of oil leaking.
BP has now ordered 32 of Kevin Costner’s Ocean Therapy centrifuge machines some of which are expected to begin operation by the end of June. Skimmer vessels are expected to pump the oily water onto a barge where the machines are said to be able to process 600,000 gallons per day. That suggests that the machines could have the oil cleaned up in as little as six months, if they can get to it. EVTN’s largest model, the Voraxial® 8000 Separator with a capacity of 5 million gallons of oil/water mixture per day, can complete the clean up process much faster.
EVTN has reported tiny revenue to date, but expects to show up robust growth going forward, since the current situation with BP’s Deepwater Horizon spill created an immediate demand for its offering. The Company anticipates completing twice as many projects in 2010 as compared to 2009 which will result in greater revenues. Moreover, the U.S. Minerals Management Service is expected to spell out a series of additional safety measures and environmental requirements for offshore drillings that could require exploration and drilling companies to have oil spill recovery technologies in place to prevent the expansion of eventual leakings in the future.
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Leave it to big business to go for the less-efficient route:
Kevin Costner’s “dream machines”: 210,000 gal per day
EVTN’s Voraxial® 8000 Separator: 5 million gal per day
BP: Do the math!