Genoil Signs Tri-Partite Deal with Russian institutions to Develop Low-Cost Desulfurization Project for 2020 Bunker Regs

New York-based Low-sulfur tech firm Genoil Inc (Genoil) today announced it has signed a tri-partite science, research, and technical cooperation agreement with two Russian institutions, which among other goals aims to design a low-cost desulfurization project to meet IMO 2020 sulfur legislation.

The deal sees Genoil partner with the UFA Scientific Research Institute of Petroleum Refining and Petrochemistry, located in Bashkortostan, Russia, and the OJS "VNIIUS" Institute, located in Tatarstan, Russia.

In 2020 the global sulfur cap on bunkers falls to a maximum of 0.50%.

"The scope of the agreement is to research, develop and market cutting-edge technologies and patents both in the Americas and globally. The partnership will focus on the petrochemistry, petroleum refining and gas chemistry industries where, through joint co-operation and a wide base of expertise, the parties саn add significant value to client proposals," Genoil explained.

"The agreement combines Genoil's leading sulfur removal GHU technology with the latest and most advanced scientific pilot testing and R&D center in the world, utilizing the sophisticated and cutting-edge equipment and tools of the respective Institutes. Genoil's GHU is an advanced upgrading and desulphurization technology, which converts heavy or sour crude oil into much more valuable low sulfur oil, for a low cost."

Genoil says the group's activities will be concentrated on designing a low-cost desulfurization project to meet IMO 2020 sulfur legislation, solutions for complex oil and gas refining challenges; the upgrading of petroleum for transportation and processing, including the removal of sulfur compounds; catalytic processes of fuel production; processing of hydrogen sulfide into elemental sulfur; and the procurement, construction and start-up of projects.

"This is an exciting partnership and represents yet another significant step forward for Genoil's innovative technology. All three parties are leaders in their respective fields of engineering technology and R&D, and our combined expertise will allow us to bring to market new innovations and technologies to further transform an industry experiencing significant change," commented Bruce Abbott, COO of Genoil.

The partnership has already received HSFO oil from a shipping client which is being tested at the UFA, the company added.

Last month Abbott told Ship & Bunker that Genoil was in advanced discussions with both physical bunker suppliers and shipowners over the use of its desulfurization technology to create 2020 compliant bunkers.