4 sources of revenue/profit for GIII1. Building and owning projects : majority owned and controlled by GIII
2. Retrofitting re-refineries owned by third parties, inserting the second stage module that produces the Group III base oils , JV model with agreements on the sharing of the capex involved and redistribution of the increased profitability, no change of ownership
3. Allowing thrid parties to implement/use the patented technology for an upfront fee and/or royalty , a classical sale of technology under a licensing agreement
These 3 models were discussed by Mr Mark Redcliffe during the interview with SmallCap Investor of early December last year.
https://www.youtube.com/watch?v=IP3JsTxT8Sc
A 4th source of profit will be coming from the carbon credits generated by the projects. In an older corporate presentation these carbon credits were estimated at 10 M per year for the 2800 Bpd project in Alberta. The value of these carbon credits are expected to rise significantly the coming years and across the globe.