GREY:WSCEE - Post by User
Comment by
cerebuson Nov 10, 2005 2:25pm
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Post# 9849412
RE: I got the standard updates from IR
RE: I got the standard updates from IRThis extract from their June quarterly may explain some of the pullback. I would guess that Chevron didn't feel the results were good enough to pursue extending their agreement.
Development and Commercialization Activities
We have been developing our Sonocracking™ technology on an ongoing basis since January 1999. Testing has been done through in-house facilities, and more recently by ChevronTexaco Energy Technology Co. (“ChevronTexaco”), a unit of ChevronTexaco Corp. Beginning in mid-2002 our development activities have centered around re-designing, upgrading and testing of laboratory scale prototypes utilizing more powerful ultrasonic generators, and redesigning these prototypes to accommodate the more powerful generators. Substantially all of the development work to date has been conducted by SulphCo personnel.
In January 2005 ChevronTexaco installed a 2,000 bbl/day Sonocracking™ system in its pilot plant at the Richmond Technology Center in Richmond, California, using components owned by us to further evaluate our technology. Our collaboration agreement with ChevronTexaco expired by its terms on July 6, 2005. We are unable to predict when or if we will enter into any new business agreements with ChevronTexaco or the terms of any such agreements.