– Deal Contemplates Marine and Oil Sand Tailings Applications –
LETHBRIDGE, ALBERTA–(Marketwired – Dec. 8, 2014) – Robix Alternative Fuels Inc. (“Robix” or the “Corporation”) (CSE:RZX)(FRANKFURT:R0X) announced today that it has signed an exclusive manufacturing agreement with Rayco Steel Ltd, of Sparwood, British Columbia, to manufacture the Clean Ocean Vessel (COV). The manufacturing agreement covers the current design of the COV which is targeted toward oil spill containment and recovery in marine applications. In addition, Rayco also has exclusive rights to manufacture subsequent COV designs including non-marine applications such as waste water streams from the oil sands and oil production environments generally. Finally, Rayco will provide Quality Assurance Quality Control to Robix on all COV manufacturing even in instances where the COV is manufactured off-site. The agreement is in effect until terminated by Rayco giving Robix not less than 60 days prior written notice. Pricing will be determined between parties at the time of the order.
“Rayco’s work to date on our first commercial COV has been excellent and that quality workmanship has given me confidence in selecting them as our exclusive COV manufacturer,” commented Nathan Hansen, President and CEO of Robix. “They have project managed the construction, worked to a tight budget and been instrumental in working with marine engineers and architect group as well as Transport Canada to facilitate design improvements to the COV which will make this iteration, a product that meets 21st century specifications.” Mr. Hansen continued, “Our business model has always been to be the owner and marketer of leading edge technology in this space. By contracting the COV construction to Rayco, we are not incurring extensive capex costs from purchasing manufacturing facilities. As a result we are managing our share structure which is small compared to our peers at a similar stage of development. Our goal is to be selling COV products in the first half of 2015.”
In addition, Robix has been examining the use of the COV design in non-marine applications including tailings ponds in the Alberta Oil Sands projects. A tailings pond is an engineered dam and dyke system that is used as a settling basin/storage container for the mixture of water, sand, clay and residual oil that is left over after oil sands processing. Management believes the COV could be used in these environments to contain and recover oil from the tailings ponds.
Mr. Hansen continued, “In tandem to building the first commercial COV, we’ve been working with Rayco on testing the principles of the COV design on non-marine applications. These include waste water streams from oil production and represents a new potentially lucrative revenue stream for Robix. The COV is a very versatile design which can be applied to a number of applications. I look forward to exploring this avenue further, but our first priority is to get the COV into the water to test its performance in open seas and prove sea worthiness. We are slightly behind schedule and due to the December holiday season will likely be ready to launch the COV in January.”
About Rayco
Rayco operates a 17,000 sq. ft. state-of-the-art fabrication shop in Sparwood, BC and employs 68 qualified professionals. Rayco has been supplying mines and industry with quality steel fabrication and QC work since 1980. Certified to division 2.1 with the C.W.B, Rayco provides structural steel fabrication, heavy plate work, maintenance and equipment upgrades. In addition, they are qualified supplier to Teck Coal Ltd. sites.
About Robix:
The Corporation is an “industrial products/technology” company, offering to investors a unique opportunity to participate in a leading company in the business of ownership of patents, and their development from commercialization to worldwide expansion through various business arrangements. Robix owns a Clean Ocean Vessel (“COV”) patent, which is an oil spill recovery vessel design with the capability to recover oil in rough and debris laden sea conditions. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry, and it proposes to develop a business model as a service provider, and/or equipment provider under licensing agreements with other industry participants, wherein Robix will use its COV patented design solution.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Robix Alternative Fuels Inc.
Nathan Hansen
President & CEO
250-683-8957
nathan@robixfuels.com
Robix Alternative Fuels Inc.
Robin Ray
Chief Financial Officer
403-327-3094
robin@robixfuels.com
