Vivakor To Expand Commercialization Efforts of Its Asphalt Binder in the Midst of Tight Supplies and Massive Projected Roadway Spending
LAS VEGAS, NV / ACCESSWIRE / May 13, 2021 / Vivakor, Inc. (OTC PINK:VIVK), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, has dramatically improved its ability to create asphalt binders by reclaiming crude from natural and man-made polluted soils. An independent laboratory analysis graded its new asphalt binder as Performance Grade (PG) 70-22 as per AASHTO M320, R29. This is a significant improvement from their previous 64-22 rating, passing every requisite testing category, including mass loss percentage, rotational viscosity, stiffness and temperature resistance
"This rating improvement is a tremendous accomplishment and further demonstrates the viability of our patented, environmentally friendly process for reclaiming crude and turning it into asphalt binders," said Matt Nicosia, Chief Executive Officer. "Given the planned massive roadway infrastructure spending in the United States, and with asphalt producers expressing concerns of tight supplies of asphalt binder, we are uniquely positioned for substantial growth as we begin commercialization of this amazing product."
With much of the $1.9 Trillion America Rescue Plan projected to be allocated to infrastructure projects, along with President Biden's multi-trillion dollar proposal for infrastructure, there could be hundreds of billions of dollars spent on roadway projects in the coming years. Additionally, the number of refineries in the United States has dropped from 302 in 1982 to approximately 120 today, as many refineries have shifted their production almost exclusively to gasoline fuels, limiting the amount of asphalt binder available in the market. This enormous increase in demand for roadway projects along with a decrease in availability of one of the major inputs to roadway creation is expected to result in an incredible opportunity for a company like Vivakor that can remediate contaminated bituminous sands to make asphalt binder without relying on a refinery.
"We have begun the commercialization of this product and plan to produce initially around 50 tons of asphalt binder per day from our Utah facility, which is estimated to have at least 44 million barrels of heavy crude to be recovered," said Mr. Nicosia. "This operation can be quickly scaled with our patented, modular process to meet what we believe will be tremendous demand in the coming months and years. We are now in sales discussions with several large asphalt companies within the Intermountain West Region."
About Vivakor, Inc.
Vivakor, Inc. (VIVK), a clean energy technology and asset acquisition company with a focus in the area of natural resources. Vivakor's corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on bitumen (heavy crude) extraction from shallow, oil-laden areas in Eastern Utah, along with petroleum-based remediation projects across the globe. The technologies utilized are low-cost, proprietary and proving themselves industry disruptive when measured by a number of important factors. The general business model has been to be an acquisition hub, focused on building and acquiring cash-flowing assets in discrete areas that have an acknowledged technological advantage and enable a substantial market opportunity within significant target markets across the globe. Our research, and the technology we acquire are anchored by our relationships with synergistic partners and product-specific commercialization strategies. From the point of product or technology conception, or through acquisition, development and commercialization, we expect to have strategic partners, joint ventures or licensing arrangements in place for many of our products in order to sustain revenue attainment.
For more information, please visit our website: http://vivakor.com
Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
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SOURCE: Vivakor