Ultimate Sports, Inc. Continues Joint Venture With EnSol, LLC to Build Tire Converter Project
November 22 2010 - 4:00PM
Ultimate Sports, Inc. (Pink Sheets:USPS), a manufacturer and
supplier to the recreational vehicle industry, announced today that
the company is continuing a joint venture with EnSol, LLC to fund
the Tire Converter Project.
The fully-operational converter is the size of a truck bed.
Although the mobile unit will not be a full-sized production unit,
it will, nonetheless, display its capabilities for various
customers and will pay for itself in the process. The cost to
fabricate and test a portable model is approximately $400,000. The
oil generated from six months of operation is expected to provide
$175,875 in revenue at $75.00/barrel. The solvent revenues are
expected to be around $1.076 million at $20.00/gallon. The annual
revenue from one mobile unit is expected to be in excess of two
million dollars ($2,000,000).
The Converter is a closed loop system that can process any
organic material into usable energy. The first unit will be
designed specifically to process tire chips. The tire chips will
produce gas, carbon black and solvent. The type of feedstock will
dictate the end product recovered. The best feedstock is truck
tires, although the process can convert any hydro-carbon. The
converter is capable of turning waste streams into oil, gas and
other beneficial products such as fertilizer and carbon black. It
can also create carbon credits that can be sold to the many firms
needing them.
A prototype unit was put to the test, showing that the converter
yields more than 95% of usable product after it converts the
materials put into it. The fully-operational converter is the size
of a truck bed. However, the goal is to fabricate and test a
portable unit that can be taken to remote sites for conversion and
environmental cleanup jobs.
Robert Matthews of EnSol states, "We expect the tire converter
to be one of our most lucrative development projects, and
therefore, we have placed it at the top of our priority list. We
have reviewed many types of processes and have found that our
modular design solves many problems relating to cost, size,
maintenance, and down time. The joint venture will allow us to
bring together the necessary funding to build a modular unit and to
begin demonstrating the efficiency of the system. We are eager to
have the chance to work with USI on this project."
Kevin Metheny, President of Ultimate Sports, states, "Ultimate
Sports is looking forward to working together with EnSol to bring
the Tire Converter to realization."
About Ultimate Sports, Inc.:
Ultimate Sports specializes in every item, large and small, that
snowmobilers need in order to enjoy the sport and improve their
performance-especially snowmobile skis of all types. We have an
extensive inventory of carbide studs, mount kits, wear bars,
suspension parts, snow flaps, alignment bars, and so much more.
Visit www.usi-skis.com for more information.
Forward Looking Statements: This press release
contains certain forward-looking statements. Investors are
cautioned that certain statements in this release are "forward
looking statements" and involve both known and unknown risks,
uncertainties and other factors. Such uncertainties include, among
others, certain risks associated with the operation of the company
described above. The Company's actual results could differ
materially from expected results.
CONTACT: Ultimate Sports
Investor Relations
410-242-0763
Ultimate Sports (PK) (USOTC:USPS)
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