Genoil Inc.
OTCBB : GNOLF

Genoil Inc.

May 20, 2014 08:07 ET

Genoil Conducts Crystal Sea Test In South Korea For Grimaldi Lines of Naples And Reduced Prices Based On A New More Competitive Design

NEW YORK, NEW YORK--(Marketwired - May 20, 2014) - Genoil Inc. (OTCBB:GNOLF) -

Genoil conducts successful test for Grimaldi lines at the Donghwa Entec factory. Grimaldi Lines who is based in Naples and is comprised of eight shipping lines including Atlantic Container Lines of Sweden. Genoil and Donghwa have cut manufacturing cost substantially on the Crystal Sea as a result of improved productivity gains, making it more attractive in the marketplace.

The new designed model eliminates the filter chamber entirely. In this morning's test the Crystal's effluent level did not exceed three parts per million which complies with five parts per million standards. Genoil & Donghwa's Crystal is the only model on the market that does not require filter media, allowing enormous operational cost savings. Dongwha Entec backs up this unit with one of the strongest warranties in the business and the most extensiveworldwide support network. Vela Lines purchased from Genoil a five cubic meter model in late 2012, prior to that they performed extensive sea trials and found that the Crystal performed withoutexception under five parts per million with an annual cost savings of $ 9000.00. The Crystal utilizes the laws of physics to do the separation and therefore has a consistently low effluent output.

"Due to the extremely low effluent output it offers clients a real comfort level. With its compact size, low power consumption, zero filters and zero chemicals it more than meets today´s environmental demands, yet brings substantial operational savings of around $9000.00 per year to the ship owner". Says Bengt Koch former Chairman of Atlantic Container Lines.

"The new Crystal Sea demonstrates our commitment to improving the environment in the marine industry. Our under five parts per million separators are more efficient to operate than competing fifteen parts per million models. It's not just about effluent output but also energy savings. " Says Bruce Abbott President & Chief Operating Officer.

More Information:

See Interview of CEO David K. Lifschultz :

http://thewallstreetanalyzer.com/genoil-inc-tsx-venturegno-otcbbgnolf-ceo-interview/

About:

Genoil Inc. is an international engineering technology development company based in Alberta, Canada with offices in the USA, Sweden, Bosnia, UAE, Saudi Arabia that has pioneered an efficient oil desulfurization upgrading technology, oil and water separation and technologies, for the oil and gas and marine industries. Genoil has 147 acre land holdings in Two Hills Canada with 2500 acres of mineral rights and a large design test facility. Genoil has apartnership in the United Arab Emirates with the first born son of Khalifa bin Zayed Al Nahyan, who is the ruler there. The company is called Genoil Emirates. Genoil also has a relationship with a large EPC contractor.

ADVISORY: Certain information regarding the company, including management's assessment of future plans, contact values, completions dates, operations, profitability and the uses of the company's technology, may constitute forward-looking statements under applicable securities law and necessarily involve risks associated with oil and gas technologies, production, refining, marketing and transportation such as loss of market, volatility of prices, environmental risks, competition from other technologies, the effectiveness of the company's technologies and ability to access sufficient capital from internal and external sources; as a consequence, actual results may differ materially from those anticipated. The company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements.

Contact Information

  • Genoil Inc. - Investor Relations
    (212) 688-8868
    www.Genoil.ca
    Former division of Saudi Aramco
    (largest corporation in the world)
    Five cubic meter model