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Vivakor, Inc. (OTC PINK: VIVK) is a socially responsible operator, primarily focused on soil remediation and the extraction of hydrocarbons, such as oil, from properties contaminated with heavy crude oil and other hydrocarbon-based substances. Once the contaminated soil is cleaned using Vivakor’s patented remediation processes, the reclaimed hydrocarbons can be sold and used for other applications.
LAS VEGAS, NV / ACCESSWIRE / March 2, 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 the U.S. Patent & Trademark Office has granted Vivakor a second patent, providing key protection to its Remediation Processing Centers (RPCs).
This milestone is an important achievement for Vivakor, because it helps protect the Company’s technology (that) has been proven to separate oil from contaminated soil material at its RPC, currently deployed in Kuwait and in Utah. This involves the process of extracting the hydrocarbons from waste that leaves the hydrocarbons intact for reuse.
The RPC has successfully separated soil material that contains more than 20% oil at a rate of 20 tons per hour while maintaining all of the organics within the soil, so it is fully usable and the hydrocarbons intact so they can be made into reclaimed fuels and asphalt. The Company has plans of deploying multiple RPC’s over the next year in multiple locations worldwide in furtherance of the Company’s mission to utilize clean technology to turn waste material into a valuable fuel or other useful product.
Vivakor Chief Executive Officer, Matt Nicosia, commented, “We are extremely proud to have received our second patent related to our remediation technology. This gives further protection to our proprietary technology, which we believe to be the only system that can clean soil having greater than 7% hydrocarbon contamination, while leaving both the soil and the hydrocarbons intact for recycling and reuse.”
Find out more at Vivakor
As long as we use fossil fuels, we will have to clean up the resulting waste. In the case of crude oil, that means cleaning spills. According to a market research report by Reports and Data, the global oil spill management market is expected to register a CAGR of 3.0%, and reach $197.49B by 2028. Vivakor, a Utah based company, is mainly focused on the onshore, post-spill subsector of this market, which saw the most growth in North America in 2020.
Vivakor’s main focus is soil remediation, via the use of their RPC’s. Their proprietary process allows them to successfully recover hydrocarbons from the soil, which may then be used to produce asphaltic cement and/or other petroleum-based products.
Vivakor is dedicated to being an environmentally responsible company, and their RPC’s do not utilize water or release harmful emissions into the atmosphere. Their technology is significantly more advanced than other oil remediation offerings, the majority of which use large quantities of water or release harmful emissions.
From their website,
“Our RPCs have successfully cleaned contaminated soil containing greater than 7% hydrocarbon content, while, to our knowledge, our competitors are limited to projects containing less than 5% hydrocarbon contamination.”
Vivakor is already at work in Utah and Kuwait, cleaning up oil-laden soil. These projects are proving the company’s efficacy, and will be key for any short term revenue growth. Long term, it seems to us that Vivakor has a clear technological advantage that will lead to sustained growth.
According to a report by Research and Markets, the global market for smart roads is projected to grow by a CAGR of 15.8% to reach $62.6B by 2025. Driving this growth are increases in global population, the need for diverse energy sources, and the growing popularity of self-driving cars.
Because one of their revenue streams is the sale of reclaimed hydrocarbons, Vivakor is wise to get into the smart road game. They have recently signed a letter of intent with TBT Group for, as their website states, “…energy harvesting sensor system for smart roads that makes use of the piezoelectric effect demonstrated by certain ceramic compositions. With this proprietary material, vibrations from cars traveling on the road induces a voltage within the ceramic which is routed into a circuit and used to charge a battery, producing enough energy to power sensors and communicate information to a database.”.
Vivakor is in a position to appeal to a wide variety of consumers with this offering. They plan to have a commercial product ready sometime this year, and the adoption of something like this would have far-reaching impacts.
Chief Executive Officer and Chairman of the Board
Joined Vivakor as Chief Executive Officer and Chairman of the Board in 2011. Prior to joining the Company, Mr. Nicosia co-founded Dermacia Inc. in 1999, a dermatology product development Company. In February 2019, Mr. Nicosia joined Ridepair Inc., a software development company focused on the transportation market, as Chairman of the Board. Mr. Nicosia joined the Board of Directors of NarcX Solutions Inc., a developer of onsite drug destruction technologies in June 2019. During 2018, Mr. Nicosia co-founded and has since served as co-Chairman of the Board of Prosperity Utah, a non-profit economic think tank focused on the State of Utah. Since April 2018, Mr. Nicosia has served on the Board of Directors of CannapharmaRx Inc., a public company which trades on the OTC Markets. Mr. Nicosia received his Bachelor of Arts degree from Brigham Young University and a MBA from Pepperdine University.
Chief Financial Officer
Joined Vivakor on a part-time basis as Chief Financial Officer in 2015 and has served as full-time Chief Financial Officer since June 30, 2020. Mr. Nelson is a CPA who began his career in Audit and Enterprise Risk Services at Deloitte & Touche, where he worked with clients with assets of more than $100B and annual revenues of more than $15B. Mr. Nelson earned a Master’s Degree in Accountancy from the University of Illinois- Urbana-Champaign, and a Bachelor’s Degree in Economics with a minor in Business Management from Brigham Young University.
Chief Scientific Officer
Joined Vivakor as Chief Scientific Officer in 2017. Dr. Hashim has extensive experience in the areas of nanoscience research, advanced materials synthesis, characterization, application, innovation and technological entrepreneurship. In addition to leading scientific efforts for Vivakor and its related companies, Dr. Hashim has served as the Founder, Chairman and CEO of CSS Nanotech, Inc. (“CSS”) since 2014. CSS is a nonmaterials research and development company that designs and commercializes useful structural nanomaterials that exhibit “safe-to-handle” nanofunctionality on a macro-scale, to include carbon filtration media, water purification, oil spill remediation, structural composite materials, electrode materials, petrochemical refining and thermal management systems. Mr. Hashim holds a Bachelor’s Degree in Materials Science Engineering from Rensselaer Polytechnic Institute, with a PhD from Rice University in the field of Materials Science and NanoEngineering.
Vivakor is a responsible operator, determined to reduce waste and pollution in a variety of ways. Their RPC’s clean the soil, emit no harmful emissions, and allow for the use of reclaimed hydrocarbons; thus reducing the amount of new drilling needed. Recently, Vivakor acquired a wastewater management system to diversify even further into water spill remediation.
They lay out their plan to create a “Circular Carbon Economy” on their website, “As energy needs and demands continue to grow the importance of reducing our carbon footprint becomes paramount. The only way to resolve these two seemingly opposite goals is by creating a circular carbon economy. It has become mandatory to reduce, reuse and recycle hydrocarbons. We recover hydrocarbons from waste/polluted soils and turn this recovered crude oil into asphaltic cement which is utilized for road construction.”.
This model of creating a socially responsible company is growing more popular as the need to make environmental changes becomes more obvious. According to a 2020 Report by the US SIF Foundation, total U.S. domiciled assets under management using sustainable investing strategies has grown 42%, from $12 trillion in 2018 to $17.1 trillion in 2020. This type of conscious investing will continue to grow, and that growth will benefit Vivakor and companies like it.
It’s worth mentioning that Vivakor’s gross revenue has been growing. Revenue for 2018 was roughly $10K, while they posted $1M in revenue as of June 2020. When a company relies on large machinery for their business and is in the middle of filing for an IPO, we expect revenue to fluctuate. Still, it is promising to see it grow that much in just two years.
The stage is set for Vivakor’s IPO to go smoothly, as they have already earmarked the money they would raise for the purchase of more machinery and efforts to expand their business into new areas. This would set them up nicely to increase their market cap and provide a much needed service to more clients. We think that as they continue to do good work, they could become a player in a large industry, while simultaneously promoting environmental values we can get behind.