As a shareholder, you have seen the team grow and move the project forward. When we started our journey in 2013, the Clean Ocean Vessel (COV) was just a patent and design drawings.
I am proud of what we achieved in 2016, and excited about the potential for 2017.
In summary, here’s some of our key accomplishments this pass year.
- Robix completed a merger with Formation Fluid Management, which is now our clean water division. With the merger Robix can provide clients in Canada, Mexico, and around the World with a complete solution to their clean water needs.
- We are in advanced discussions with key companies for significant multi-year contracts. We expect 2017 will be a break-out year for this division
- We built and delivered our first COV, C-160 to Mexico for testing by Pemex in November 2015. We successfully completed testing by the Petroleum Institute of Mexico.
- As a result of the performance of the COV, Robix was able to secure two contracts:
- In June, we received a contract from T&M S. A. de C. V. of Villahermosa, Tabasco to build and own the C20 and train T&M staff to operate the equipment. Per the lease agreement T&M will pay Robix a total sum of to $29,700,409 MXN (approx. CAD$2,040,000). The contracted service will be paid monthly at a rate of $1,237,517.00 MXN (approx. CAD$85,000) for a term of 24 months once the C series is delivered. (est. Q1 2017)
- Robix received a USD $50 MM expandable contract for multiple P140 oil recover platforms to be deployed at PEMEX facilities. The Master agreement has a present value of a minimum of USD$50 MM and incorporates the leasing of multiple P140 units initially, with transaction instruments to increase the order size to a maximum of $250 MM. Delivery to commence Q3 2017.
The success we achieved in 2016 for contracts in Mexico has brought us to the attention of other organizations in Mexico. One of which is looking to engage in discussions with Robix deployment of multiple C series. Another potential contract is commercializing our demonstration C160 into a long-term lease.
In addition, we have advanced discussions for the C series in major international oil production and processing regions and our water division is in advanced stages of numerous tenders and bids.
Although there is no guarantee of any of these additional contracts being realized, the Company is excited about the potential of future growth and executing on the major contracts we already have in place.
Wishing you a prosperous 2017.
Robix Environmental Technologies, Inc.