Opportunity Zone Designation Brings Enormous Advantages for Investors
LAS VEGAS, NV / ACCESSWIRE / July 2, 2019 / Vivakor Inc. (OTC PINK: VIVK), a technology and asset acquisition company with a focus in the area of natural resources, has commenced manufacturing of its Remediation Processing Centers (RPCs) in a Utah Opportunity Zone, creating an enormous potential tax savings for its investors. The warehouse facility is located in South Salt Lake City, UT, and is currently operated by a qualified opportunity zone company, RPC Design and Manufacturing, LLC.
"The first Remediation Processing Center is well underway, and anticipated to be complete in the next 45 days, where it will be deployed to Eastern Utah to begin immediately in the remediation of oil sands and production of the enormous bituminous materials in that area," stated Chief Executive Officer Matt Nicosia. "We plan to build more than 30 units over the course of the next 18 months at this facility, with each unit projected to produce 250 barrels of hydrocarbons a day."
Vivakor's RPCs are based on its patent pending technology for remediation and extraction of hydrocarbons from soil material. After having conducted multiple, successful pilots in Eastern Utah, the Company is poised to deploy these units throughout the world, providing a solution to the worlds need for clean and environmentally conscious hydrocarbon extraction. Vivakor operates the RPCs through its VivaVentures Energy Group Inc. division currently operating in Utah and Kuwait.
About Vivakor, Inc.
Vivakor, Inc. (VIVK), a technology and asset acquisition company with a focus in the area of natural resources. Vivakor's corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on bitumen (heavy crude) extraction from shallow, oil-laden areas in Eastern Utah, along with petroleum based remediation projects across the globe. The technologies utilized are low-cost, proprietary and proving themselves industry disruptive when measured by a number of important factors. The general business model has been to be an acquisition hub, focused on building and acquiring cash-flowing assets in discrete areas that have an acknowledged technological advantage and enable a substantial market opportunity within significant target markets across the globe. Our research, and the technology we acquire are anchored by our relationships with synergistic partners and product-specific commercialization strategies. From the point of product or technology conception, or through acquisition, development and commercialization, we expect to have strategic partners, joint ventures or licensing arrangements in place for many of our products in order to sustain revenue attainment.
For more information, please visit our website: http://vivakor.com
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Vivakor Investor Relations
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SOURCE: Vivakor, Inc.