The company also announced its first customer order, procured through Isis, for Sonocracking units with at least 30,000 barrels per day of processing capacity, which will be shipped at the company’s expense from Fujairah to a port located within the sales territories.
Isis has agreed to pay all entry costs and duties, the cost of transporting the units from the port of entry to the customer’s refinery and all costs associated with the installation of the units. SulphCo said that it will provide advisory personnel and onsite project management to insure proper installation, start-up and commissioning of the units.
Larry Ryan, CEO of SulphCo, said: I am delighted to report that our first customer order meets the important criteria that we discussed in the November conference call. First, the net processing fees are entirely consistent with revenue projections we disclosed in our business model.
Second, and of equal importance, the feed oil to be processed is an uncracked distillation stream having a high sulphur content, and is therefore an excellent candidate to benefit from our technology. Also, Isis Megah and the ultimate customer offer superb growth potential for SulphCo with few site location challenges.
