GLOBAL CLEAN ENERGY, INC. ENTERS INTO A JOINT VENTURE WITH PROVECTUS ENGINEERED MATERIALS LTD. FOR SULFUR REDUCTION AND REMOVING OIL FROM OIL SANDS WITH SONICATION TECHNOLOGY

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Jul 14, 2023, 16:55 ET

HOUSTON, July 14, 2023 /PRNewswire/ -- Global Clean Energy, Inc. (OTC PINK: GCEI) is a developer of Green Technology projects that will provide clean energy in various forms without negative carbon emissions or footprints.

Provectus Engineered Materials Ltd. uses patented low frequency sonication technology providing unique platforms for process engineering. Provectus currently holds 6 granted patents for mechanical and sono-chemical grinding and separation techniques.

Global Clean Energy, Inc. has entered into a Joint Venture with Provectus Engineered Materials Ltd. by securing the rights and patents for their Sonication technology for the purposes of reducing sulfur in crude oil and removing oil from oil sand tailings. GCE will be a majority holder of interest in the projects currently being developed. Provectus is presently testing high sulfur crude oil in their Sonicator to determine the level of reduction and catalysts provided by passing crude oil through the sonication chamber.

Additionally, testing for oil separation from oil sands tailings will begin in August. Upon successful completion of the testing, GCE will develop on multiple sites sulfur reduction projects in the US and Canada along with development of oil separation from oil sands tailings. The goal of this joint venture is to have a portfolio of sulfur reduction and oil separation projects throughout the US and Canada.

The Global Market for Ultra-Low Sulfur Diesel ULSD is expected to reach $14.5 Trillion dollars by 2027 with a CAGR of 4.7% according to Market Data Forecast. GCE is positioned to provide sulfur reduction services at blending stations for oil producers with high sulfur sour crude oil who need to reduce their sulfur content on site. Revenues per project can top 40 million dollars.

The joint venture allows GCE to utilize commercialized technology to take advantage of two emerging growth sectors: 1. Low sulfur fuels and 2. Resolving the legacy oil sands tailing ponds that need to be cleaned up in an environmentally friendly and cost-effective process.

Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate, and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE Global Clean Energy, Inc.