This project aim is to provide an alternative to drilling for oil or importing from foreign countries through a manufacturing process of transforming petroleum-based liquid and solid waste into energy.
The competitive advantage will result from the development of a manufacturing process that will produce synthetic crude oil below the break even poin such as $30 to $40 per barrel given the fact that crude oil price per barrel is above $80 US dollar.
A typical plant costs approximately $3-$4 million and can generate about 80,000 bbls oil annually. At $90/BBL, annual EBITDA is approximately $2-$3 million per unit based on existing and competitive modeling.
The investment is needed to partner with a top US University to help develop a low cost, efficient and effective plant for producing synthetic crude oil.
Investors can feel free to contact us on Merar.