T5 Corp. Signs MOU with AGAS INTERNATIONAL of Bahrain & Deploys New Technology for the Recycling of High Hydrocarbon Contamin...
December 07 2012 - 6:33PM
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.