FORT LAUDERDALE, FLORIDA--(Marketwired - June 10, 2014) - Poly Shield Technologies Inc. (OTCQB:SHPR) (the "Company") is pleased to announce it has secured the sourcing of components and equipment required to commence the manufacturing of the Company's proprietary DSOX-20 Pre-Combustion Fuel Purification System. The DSOX-20 System will fulfill the Company's most recent orders pursuant to the purchase and service agreement entered into on April 15, 2014, and which was announced to the public on April 17, 2014. In compliance with the non-disclosure terms of this agreement, the Company refers to this purchase and service agreement as the "Project Poseidon".
Rasmus Norling, Chief Executive Officer of the Company, stated: "We are pleased to have started the manufacturing process and looking forward to the subsequent installation and commissioning of our DSOX-20 System for Project Poseidon. We are confident this contract will be successfully delivered and completed on-time and will provide our customer with a cost-effective technology to comply with the upcoming IMO Regulation 14 which goes into effect January 1, 2015."
Poly Shield Technologies Inc. will continue updating the public on all of its technology developments as they progress through installation and testing to certification.
About Poly Shield Technologies Inc.:
Poly Shield Technologies Inc. develops and markets environmental and pollution emission control solutions to a worldwide market.
Poly Shield Technologies Inc.'s proprietary DSOX-15 and DSOX-20 Fuel Purification Systems are cost-effective technologies designed to remove sulfur from fuel in an effort to meet the upcoming sulfur emissions regulations due to take effect in 2015. These technologies are currently aimed at the maritime industry which includes vessels for cruise-line, freight shipping and tanker companies and can be installed during normal vessel operation without the need to use expensive dry dock time. These technologies have worldwide applications that are not limited to the maritime industry.
Currently, Poly Shield Technologies Inc. has contracted with several shipping and cruise line companies for installation of its DSOX-15 systems, with options for a total of 62 installations, all of which will be upgraded to the new DSOX-20 System.
On behalf of the Board of Directors,
Rasmus Norling, President and Chairman.
Forward-Looking Statements
This press release may contain forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that Poly Shield Technologies Inc. expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in Poly Shield Technologies Inc.'s Quarterly and Annual Reports filed with the United States Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should any of Poly Shield Technologies Inc.'s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Poly Shield Technologies Inc.'s forward-looking statements. Except as required by law, Poly Shield Technologies Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Poly Shield Technologies Inc. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.