Ultimate Sports, Inc. Details Use of Solvent From Tire Converter
08 November 2010 - 3:00PM
Ultimate Sports, Inc. (Pink Sheets:USPS), a manufacturer and
supplier to the recreational vehicle industry, released a statement
today detailing the benefits of the solvent produced by EnSol's
Tire Converter. Last month, Ultimate Sports, Inc. (USI) announced
that the company is entering into a joint venture with EnSol, LLC
to fund the Tire Converter Project. In return for the investment
capital, USI will receive equity and a share of the profit of the
joint venture.
The Tire Converter is a unit that will transform tires into
carbon black, oil, gas and petroleum solvents. California alone
discards 30 million tires annually. Nationally, about 300 million
tires are discarded and few are reused and or recycled; most are
buried producing a toxic waste dump. Source:
http://www.calrecycle.ca.gov/LGCentral/Library/Innovations/Tires/Program.htm
The average tire weighs 22.5 pounds. In small quantities, the truck
tire feed stock cost is about $300/ton "chipped" and each ton
produces 1.3 bbl of solvent.
Dilution Solvent (DS), the catalyzing end product of EnSol's
tire converter system, can be used to treat existing oil wells to
liberate oil that is too viscous (thick) to economically be pumped
from the wells. One barrel (42.2 gallons) of DS at a cost of
$25.00 per gallon will sell for approximately $1,000. The
ratio for dilution of the Dilution Solvent is at about 50:1; or
about one gallon of solvent used for one barrel of oil pumped.
Currently steam injection is used to "lift" heavy oil, an
expensive process that is enhanced by the DS liquid. Source:
http://www.heavyoilinfo.com/IPB/index.php?showtopic=113
The fully-operational converter is the size of a truck bed.
Although the mobile unit will not be a full-sized production unit,
it will, nonetheless, display its capabilities for various
customers and will pay for itself in the process. The cost to
fabricate and test a portable model is approximately $400,000. The
oil generated from six months of operation is expected to provide
$175,875 in revenue at $75.00/barrel. The solvent revenues are
expected to be around $1.076 million at $20.00/gallon. The annual
revenue from each unit is expected to be in excess of two million
dollars ($2,000,000).
For more information about the company, please visit
www.usi-skis.com.
About Ultimate Sports, Inc.:
Ultimate Sports specializes in every item, large and small, that
snowmobilers need in order to enjoy the sport and improve their
performance—especially snowmobile skis of all types. We have an
extensive inventory of carbide studs, mount kits, wear bars,
suspension parts, snow flaps, alignment bars, and so much more.
Visit www.usi-skis.com for more information.
Forward Looking Statements:
This press release contains certain forward-looking statements.
Investors are cautioned that certain statements in this release are
"forward looking statements" and involve both known and unknown
risks, uncertainties and other factors. Such uncertainties include,
among others, certain risks associated with the operation of the
company described above. The Company's actual results could differ
materially from expected results.
CONTACT: Ultimate Sports
Investor Relations
410-242-0763
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