T5 Corp. Signs MOU with AGAS INTERNATIONAL of Bahrain & Deploys New Technology for the Recycling of High Hydrocarbon Contaminated Materials
LAKE OSWEGO, Ore.--(BUSINESS WIRE)-- T5 Corp. (OTCBB:TFIV) has shipped the first test units into the Middle East. The test unit can recycle up to a sixty percent hydrocarbon content utilizing energy never used before in desorption technologies. The test units are the latest innovative technology created by the T5 Corp. A team from the T5 Corp. has been traveling the Middle East for the last three months evaluating several sites to deploy the new technology. The Middle East hydrocarbon recycling market is the largest market in the world, with the United Nations estimates exceeding three billion US Dollars. Patrick Garrett, the CEO of T5 Corp., stated, "It has been an interesting three months for T5 Corp. I do not think any of us were expecting the number of significant projects currently available in the Middle East. It was a difficult choice determining the best location to unveil the technology. In the end, the Board of Directors and I were most comfortable deploying the equipment in Bahrain, where the business climate is very progressive."
Upon the decision to test the unit in Bahrain, T5 Corp. was able to negotiate a Memorandum of Understanding (MOU) with AGAS INTERNATIONAL. AGAS INTERNATIONAL, the flagship company of the AGAS group, owns and operates a 300,000 Metric Ton Per Annum Fuel Oil production plant located adjacent to the Bahrain Petroleum Company (BAPCO) refinery in Bahrain. T5 Corp.'s engineers have estimated the AGAS site to contain over one million tons of contaminated material, of which forty-five percent is expected to have recoverable hydrocarbons. The MOU gives T5 Corp. the opportunity to operate the new technology on the AGAS site and utilize the results to negotiate a commercial contract.
T5 Corp. is in the process of registering their business in Bahrain and setting an office location. T5 Corp. plans on being in full business operations in the Middle East by February 2013. Jesus Solis, responsible for International Business Development with the T5 Corp., commented, "Building a business in Bahrain has been very smooth. The country is full of professionals both in the private and government sector. The Ministries are very helpful and the country encourages foreign business entities. We are enjoying the creation of a new business as well as a long future in the Middle East."
Mr. Khalid Salman Bubshait of KSB stated, "I have been involved in the oil and gas sector for many years. This includes a full and satisfying career with ARAMCO. T5 Corp. has proven to me that their professionalism and expertise in the recycling and remediation arena are unparalleled. The technologies they will be employing in the Middle East are very innovative with unlimited possibilities. My family and I have studied this field for many years and, until now, have been unable to locate a company that had history and would stand by their product. We are very excited as a company and, I am sure, as a country to welcome T5 Corp."
ABOUT T5 CORP.
T5 Corp. is a technology company providing remediation and recycling services to the oil and gas industry. T5's management team has more than 100 years of combined experience in remediation projects and has designed, built and operated successful remediation projects throughout the world for more than 15 years. For more information, visit www.t5corp.com.
ABOUT AGAS INTERNATIONAL
AGAS INTERNATIONAL is a part of AGAS group of companies registered in the Kingdom of Bahrain. The Group's origin can be traced back to 1989 and, over the years, the Group has expanded and now holds diversified interests. It's Fuel Oil Processing Plant and export terminal / private jetty in Bahrain are managed by highly qualified and experienced professionals from the international oil industry, ably supported by engineers deputed from M/S Petroleum India International (Government of India Organization). The Import /Export operations are conducted out of its Private Jetty at North Sitra, Bahrain. The Jetty is equipped to handle Vessels up to 175 Meters LOA or 20,000 M.T. cargos. AGAS LUBES W.L.L. owns and operates a 36,000 MT per annum Used Lube Oil Re-refining Plant in the Kingdom of Bahrain.
R. Patrick Garrett, 503-730-7643
KEYWORDS: United States Bahrain North America Oregon Middle East
The article T5 Corp. Signs MOU with AGAS INTERNATIONAL of Bahrain & Deploys New Technology for the Recycling of High Hydrocarbon Contaminated Materials originally appeared on Fool.com.
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