PENSACOLA, FL--(NewMediaWire - Sep 10, 2015)
- Gear International,
Inc. (OTC
PINK: GEAR) -- Gear International, Inc. (GEAR) is pleased
to announce that it has entered into an agreement with Contaminated
Soil Solutions, Inc., the owners of a proprietary soil remediation
technology known as "CSS1000™." This advanced
technology consists of both physical equipment and intellectual
property, including engineering programs and proprietary design
software, which together form an effective and cost-efficient
system for remediation of various forms of soil contamination
produced by oil and gas exploration, as well as by other
industries.
Pursuant to the terms of the agreement, GEAR will receive 25% of
the founder stock in Contaminated Soil Solutions, Inc. in exchange
for providing the capital and financing necessary to relocate the
physical equipment from Oklahoma to Texas where
the CSS1000™ technology is scheduled to
be deployed for remediation of contaminated frac sand under a
conditional contract. This single contract opportunity is
scheduled to generate approximately $50 million in revenue over the
first 36 months of operation. The demand for CSS's remediation
services has precipitated a significant number of additional
contract opportunities. To meet the contract volume resulting
from this exponentially- increasing demand for services,
additional CSS1000™ equipment will need
to be fabricated and mobilized on an ongoing basis.
The CSS1000™ technology was
originally field tested in Canada and was successfully utilized for
washing formation production sand and drill cuttings under contract
with an oil company in Alberta. In 2010, a portion of the
equipment was moved to Oklahoma to process hydrocarbon contaminated
beach sand from the BP Gulf Oil spill. The system has proven
to be both efficient and cost-effective.
The
"green" CSS1000™ technology
represents a continuous process whereby heated water, mechanical
separation, and nonintrusive chemistry is utilized to clean
contaminated material. In addition to cleaning the
contaminated material on a price per ton basis, substantial income
can be generated by the Company's technology through the sale of
reclaimed and recycled drill cuttings, used Frac sand, and basic
sediment and water, resulting in substantial potential sales
revenues for the Company.
GEAR's CEO, Carlton Wingett, is quoted stating, "I am extremely
pleased to announce this exciting partnership between GEAR and
Contaminated Soil Solutions. Scott Hastings, Elton Taylor, and the
entire CSS management team bring decades of hands-on experience in
various segments of the oil and gas industry. The primary objective
of this joint venture will be to rapidly relocate the equipment and
deploy this "green" technology to job sites, ultimately
positioning CSS as a premiere provider of soil remediation and
solid waste recycling."
About Contaminated Soil Solutions, Inc.
Contaminated Soil Solutions (CSS) has created a streamlined yet
effective solids and fluid treatment system that provides the oil
and gas industry more sustainable waste options. Our system will
ensure a reliable treatment method that will help the producer
responsibly and economically manage their solids and fluids waste
that is generated from drilling and production operations.
Website: http://soilsolutions.energy/
About Gear International, Inc.
Gear International (OTC
Pink: GEAR) is a public company that offers a viable and often
creative funding resource and joint venture opportunities for
companies seeking unconventional funding, hard asset loans,
expansion capital and/or other resources. The objective is to
assist companies that are in a unique position to capitalize on a
current trend or scale their operational business. By providing
timely capital and other resources, the management teams of our
companies can accelerate product launches, expand into new
territories and often even pioneer an entire new category.
Website: www.gear.international
Forward-Looking Statements
This press release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Gear International, Inc. and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. The company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results.