Vivakor has expanded oil extraction technology to include the remediation and reclamation of oil spills.
The Company declared that its mobile oil sands processing units have a multi-purpose and multi-functional capability through the use of their next-generation oil extraction technologies. In keeping with their mandate to be socially conscious and responsible to the environment, the Company utilizes clean, green technologies for extraction of rich natural resources. The ability to now cleanup oil is an added plus for this innovative company.
Vivakor has sizable precious metal claims between Arizona and Colorado with strong in-ground valuation. In 2014, the Company announced that they were working on a solution for extraction of oil in the oil sands laden areas in Eastern Utah. The Company has since successfully extracted high quality oil from Utah and is set to go into production this year.
Chairman and CEO Matt Nicosia stated, "We are excited about our add-on capabilities as we continue to diversify our revenue model. A continued ability to increase value for shareholders is always very high on our priority list. We are pleased that we can continue to expand our operational capacity and productivity in the Natural Resources space while solidifying Corporate Governance.
"The addition of mobile oil extraction units and the expansion into environmental cleanup is advancing Vivakor’s vision of strong entrenchment for the long haul in the Natural Resources sector, while remaining true to our environmental responsibility. The intellectual capital we continue to assemble, positions Vivakor to successfully achieve its overall long-range goals and objectives."
Vivakor’s technology is proprietary and proving itself to be industry disruptive with a low cost basis in its day-to-day operation. The Company expressed that additional related information was forthcoming in the near future.