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ReGen III Corp. V.GIII

Alternate Symbol(s):  ISRJF

ReGen III Corp. is a Canada-based cleantech company commercializing its ReGen, patented technology to recycle used motor oil (UMO) into high-value Group III base oils. The ReGen technology is designed to produce the highest quantity of high base lubricating oils of any re-refining process. Its ReGen technology, produces a 53% yield of Group III, which is a high-margin base oil used in the formulation of performance synthetic grade motor oils. The Company is also focused on developing its brownfield re-refinery in Texas City, Texas (Texas Facility). Its projects include Texas and Alberta. It is also engaged in Koch Project Solutions, LLC (KPS) to provide project execution management services up to turnkey delivery of the proposed Texas Facility. The Company is focused on building or enhancing UMO re-refineries and licensing its intellectual property to third parties around the world. Its first ReGen facility is in the site selection and negotiation phase in the United States Gulf Coast.


TSXV:GIII - Post by User

Bullboard Posts
Comment by albertaguy12on Apr 20, 2019 12:24pm
86 Views
Post# 29650968

RE:Anyone live close to this project? Or know more about it?

RE:Anyone live close to this project? Or know more about it?Nice to see someone else in the area that has an interest in this project! I live in Penhold and drive by the refinery about once a week.  Ive been following this project since I first heard about it last spring! 

Last June/July I had numerous conversations with Darren and even sent an resume in to them.  I was honestly considering qutting my secure job to help start up the project.  I figured my background in commissioning, decommissioning and operating would be a huge asset to them and they agreed.  At the time they believed that financing would be completed by the end of summer and demolition would start in the fall.  Than all of a sudden I lost contact with them and never hard anything until February, which is very concerning in my point of view.  

I believe in the technology and company, but why is there so many delays?  Either there trying to secure a very friendly line of financing or there having trouble with financing! There’s been alot of talk about Parkland buying them out once the plant is up and running..... if that is the case why wouldnt they finance them or buy a stake in the business to help get it started..... seems like theres something im missing or there not disclosing to the public....

one final thing Id like to comment on is that the plant is very old and in rough shape.  I understand most of the process area will be demo’d but I dont know if they’ll use the existing infrastructure for the utilities and DCS/PLC.  It can be very expensive to upgrade this infrastructure with millions in hidden costs and I havent got a clear answer on this.  Anyone that has experience in plant operations will understand my concern on this.  

As far as the vehicles on site go, the west portion of the site is operational.  It is used as a loading dock/storage area for trucks bringing in oil to be shipped off by rail.  If you take the road from Bowden you can see that portion of the plant.  I do know they had some trailers there in the fall that was stationed to the south of the tanks.  I believe that was the company that was doing the survey/research on the plant site.  Hope this helps.  Sorry for the lack of grammar, wrote it on my phone.  

Chance
Bullboard Posts