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Robix Environmental Technologies Inc
Symbol RZX
Shares Issued 55,933,690
Close 2017-01-30 C$ 0.20
Market Cap C$ 11,186,738
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Robix Environmental Tech talks 2016 products, contracts

2017-01-31 10:15 ET - News Release

Mr. Nathan Hansen reports

ROBIX PROVIDES CORPORATE UPDATE

Robix Environmental Technologies Inc. is providing a corporate update on operations as 2016 has been a milestone year in growth and development.

In 2013, the C Series clean ocean vessel was a patented concept and design drawing. Fast forward to today and the company has expanded its product line to include oil spill response and recovery equipment, as well as oil-water separation, and cleaning and purification equipment. Today Robix's product line includes the original C Series, the P Series and the hydro-cycle water system. Throughout the year, the company has achieved the following significant milestones:

  • Robix completed a merger with Formation Fluid Management and created its clean water division. With the merger, Robix is providing clients in Canada, Mexico and around the world with a complete solution to their clean water needs.
  • Robix advanced discussions with key companies for significant multiyear contracts for its P and C Series product line. Robix expects 2017 will be a breakout year for its oil recovery division.
  • Robix built and delivered the first C-160 to Mexico for testing by Pemex in November, 2015. In 2016, the Petroleum Institute of Mexico successfully completed testing of the C-160.

As a result of the performance of the C Series, Robix was able to secure two contracts:

  • In June, Robix received a contract from T&M SA de CV of Villahermosa, Tabasco, to build and own the C20, and train T&M staff to operate the equipment. Per the lease agreement, T&M will pay Robix a total sum of to 29,700,409 Mexican pesos (approximately $2.04-million). The contracted service will be paid monthly at a rate of 1,237,517 Mexican pesos (approximately $85,000) for a term of 24 months once the C series is delivered (estimated for the first quarter of 2017).
  • Robix received a $50-million (U.S.) expandable contract for multiple P140 oil recovery platforms to be deployed at Pemex facilities. The master agreement has a present value of a minimum of $50-million (U.S.) and incorporates the leasing of multiple P140 units initially, with transaction instruments to increase the order size to a maximum of $250-million (U.S.). Delivery will commence in the third quarter of 2017.

Nathan Hansen, president and chief executive officer of Robix, states: "Our successful dealings with Pemex has brought us to the attention of other organizations in South America looking to engage in discussions for the deployment of multiple P Series oil recovery platforms. In addition, we have advanced discussions for the C Series unit in major international oil production and processing regions, and our clean water division is in advanced stages of numerous tenders and bids. Two thousand seventeen will be our first revenue-generating year, which is a significant milestone for the company. Given the appetite that we have seen for our product line, we are excited about the potential for future growth in 2017, and I look forward to updating you on our progress."

About Robix

Robix is focused on the worldwide market for oil containment, recovery and cleaning equipment, specifically for the oil spill protection, oil production, and water cleaning and purification industries.

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