Incorporated on august 23rd 1988 in Canada, recy-sols INC. (the company) was formed to develop and market the giguere process in Canada. Recy-sols INC. Will be the first worldwide company to operate a mobile process that decontaminates soil contaminated by hydrocarbons.
The strong technical team that has put together within the consortium responsible for the development of the pilot plant, is one of the company significant asset. This group will assure that the company meets its technical objectives. The board of directors of the company will assure that the company meets its corporate objectives. The giguere process will enable our mobile plants to be placed on a site and process 50 tons per hour. Mr. Giguere has not reinvented the wheel. What he has done is assemble (for the most parts) proven technologies and equipment into a process which clean soil contaminated by hydrocarbons, heavy metals. This process could be used to extract oil from the oil sands. But no economic and financial feasibility study has been conducted to establish the viability for such an application.
An engineering firm has, based on their discussions with the environment department of the province of Quebec and with the environment protection agency (epa) in the United States, very conservatively assessed the market to be:
Quebec 5 million tons
Canada 20 million tons
U. S. 250 million tons
The above numbers indicate an estimated volume available on a short-term basis of 270 million tons. Which is very conservative if we take into account the fact that the epa stated in 1985 that the production of industrial waste reached 300 million tons per year in the u. S. And that most likely 378 000 sites were contaminated and would require corrective actions.
The giguere process, which will be marketed and operated by recy-sols INC. In Canada, will face little competition. There is no known process that is currently capable of operating on a mobile basis and at such a low cost. We expect the company will be able to operate very profitably charging its clients upwards of 140$ per ton whereas the competition is charging in excess of 250$ per ton.
Projected net profit in year 3 is estimated at 47 345 000$ on sales of 274 725 000$ and of $143,157,000.00 on sales of 702 375 000$ on year 4.
In order to accomplish these objectives, the company requires 4 940 000$ in capital to finance the implementation of its business plan and related activities through the commencement of commercial operation. Details of the intended uses of the funds are set forth in the financial section. The company anticipates that its initial capitalisation will be as follows:
840 000$ tax credits (approx. )
900 000$ non-refundable grant from the government environmental department (approx. )