Readying its Asphaltic Cement for Commercialization in Growing Market
LAS VEGAS, NV / ACCESSWIRE / February 4, 2021 / Vivakor, Inc. (OTC PINK:VIVK) (the "Company" or "Vivakor"), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, primarily focused on soil remediation, is pleased to announce that third-party testing has concluded that the Company's remediated bituminous material in Utah has been tested as performance grade asphaltic cement, PG 64-22 (AC-20).
The U.S. alone produces approximately 350 million metric tons of asphalt at a value of approximately $35 billion per year. Roads and highways constitute the largest single use of asphalt at 85 % of the total. Of the 2.6 million miles of paved roads in the U.S., over 94 percent are surfaced with asphalt. There is approximately 18 billion tons of asphalt pavement on America's roads. At least 85 percent of all runways at the nation's 3,364 commercial airports are surfaced with asphalt pavement. Over 90 percent of the parking areas in the nation are surfaced with asphalt pavement. To be sold for use on roads and highways, asphalt must meet ratings established by state agencies or departments of transportation. Vivakor has demonstrated the ability to process oil sands bitumen at their Utah facility that has the potential to be refined to a PG 64-22 or Table 2 AC-20 asphaltic cement , a performance grade that meets many of the roadway requirements in the U.S. and abroad.
"We are pleased to reach this milestone with our asphaltic cement, as we believe that there will be increased demand as new infrastructure projects are funded. In addition, as our asphaltic cement is made from remediated bitumen, we believe that it will qualify as recycled asphalt and generate higher prices along with substantial carbon and carbon sequestration credits ," commented Matt Nicosia, Chief Executive Officer of Vivakor. "We have begun the commercialization of this product and plan to produce approximately 50 tons of asphaltic cement per day from our Utah facility, which is estimated to have at least 44 million barrels of heavy crude for use as asphalt cement to be recovered. We have begun engaging 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.
Investors Contact:
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info@vivakor.com
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SOURCE: Vivakor
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