Business
Gen 3 Oil is an oil recycling company with a recycling refinery project in Bowden Alberta. The existing refinery is being leased and custom upgraded in order to utilize a cutting edge technology producing quality group 2 and 3 motor oils. TSX.V: Giii Key Points: - Very high caliber management team with strong track records. - CEO Gregory Clarkes was the founder, director, and significant shareholder of Skye Resources Inc., which was sold to HudBay Minerals Inc. in 2008 for $460 million. - View management team full bio here https://www.geniiioil.com/corporate/managment/ - Existing facility includes all utilities, tank storage, truck and rail handling, fire fighting systems, retention and settlement ponds, site access and roadways. - Estimated facility capex savings of $30 million. - 20 Year site lease with Parkland Refining. - Pre FEED studies completed by Stantec and WSP. - ReGen technology proven to be commercially viable and economically scaleable. - Higher yields, lower capex, and lower opex compared to other competing re refiners. - In talks with various firms about potentially licencing utilizing proprietary technology, joints ventures and builds. - 5 Year off-take agreement with Elbow River. - Environmental benefits is reducing greenhouse gas emissions, diverts chemical waste from being burned or dumped, utilizing Bowden facility decreases environmental footprint compared to construction of a new refinery. Estimated 360,000 tonnes CO2 emissions reduction per year. - Estimated 9 million dollars in greenhouse gas credits per year. - Re-refining is more lucrative than crude oil refining because you start with a cleaner product. - Estimated 61M EBITDA per 1000 BPD of group 3 production and 34M EBITDA per 1000BPD The Bowden re-refinery. - Gross 170 million projected first year with EBITDA of 85 Million on first full year of production. - Demand for Group 3 oil in North America is over 17000 BPD while 48000 BPD is produced in North America. - 16 Domestic or international patents currently issued or pending. https://www.geniiioil.com