BATH, NH -- (Marketwire) -- 08/12/10 -- MOP Environmental Solutions, Inc. (PINKSHEETS: MOPN) is pleased to announce that on August 9, 2010, one of the world's largest oil companies, whose name we are unable to disclose without violation of their press release disclosure terms, has accepted MOP Environmental Solutions, as a vendor, with issuance of vendor number, internal contact hot line, and the confirmation of its vendor status.
Mr. Charles Diamond, MOP Environmental President and CEO states, 'Achieving vendor status with one of the world's largest oil companies was difficult to attain, and a major accomplishment that carries with it, significant long term growth benefits.'
'With Bibby Financial Services as our collaborating financial partner we have begun to re-train our sales staff to educate them regarding the offering of better terms to capture large orders from large customer accounts. Our new financial partner, Bibby Financial Services has deep pockets that can really make a difference when going after those larger accounts. We can now take on any size contract since it is unlikely we will outgrow Bibby!' stated Diamond.
CEO Diamond states, 'With our confirmed Official Vendor Status with one of the world's largest oil companies that just occurred on August 9th, together with the assurance from our financial partner Bibby Financial Services, we are prepared to service our new accounts in order sizes and order frequencies that without Bibby would be outside the financial scope of MOP Environmental Solutions. We are grateful to Bibby Financial for their exceptional support.'
Diamond further states, 'Just one facet of anticipated orders are oil cargo vessel spill kits. U.S. Federal Regulation (33CFR Part 155) requires all oil carrying vessels in U.S. waters to have oil spill clean up equipment on board for on-deck spills adequate for a minimum of 7 to 12 barrels of spilled oil. The price of each spill kit ranges from $3,000 to $6,000 to satisfy the minimum requirement per vessel. MOP Environmental's competitively priced oil cargo spill kits offer far superior performance at a lower competitive price to meet the demands of the U.S. Government mandated vessel spill kits. There are currently 3,858 U.S. coastal oil drilling platforms serviced by a far larger number of feeder oil cargo ships and oil tankers subject to this mandated U.S. Government requirement. Working with Bibby Financial Services helps us to capture the business of very large companies since we are able to satisfy their most preferred 60 day payment terms at a low financial cost without any delay in our payment.'
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC.
MOP Environmental Solutions, Inc. (MOPN) is a publicly traded company. MOP Maximum Oil Pickup is a 'cradle-to-cradle' green product that is arguably the most effective oil spill recovery system on the market. For information see www.mopenvironmental.com.
Brief Description of The MOP Technology:
MOP Maximum Oil Pickup is an aggressive oleophyllic and hydrophobic (oil attracting and water repelling) sorbent made from recycled and fully biodegradable materials, manufactured using small-scale hydroelectric green energy. MOP's properties are such that it can effectively deal with an oil spill the size of the Exxon Valdez, but is equally effective at cleaning up the oil spill off a garage floor.
MOP Environmental Solutions, Inc. manufactures and distributes MOP®Maximum Oil Pickup. MOP picks up and recovers oil spilled on land and/or water. This revolutionary, 100% Recyclable, new absorbent material picks up to 30 times its own weight in oil, without absorbing water, immediately restores traction on slippery surfaces, and safely restores a clean, natural environment.
Forward-looking statements in this news release are pursuant to safe harbor provisions of Section 21E of Securities Exchange Act of 1934. Investors are cautioned that statements in this release are not strictly historical statements, including without limitation, management's plans and objectives for future operations, assessment of market factors, statements regarding strategy, company plans and its strategic partners. These constitute forward-looking statements, are not guarantees of the company's future performance and are subject to risks and uncertainties, such as funding for machinery and materials, success in acquiring customers, maintaining needed government relationships, and successfully executing a business plan, which could cause the company's actual future results to differ materially from the forward-looking statements. For all such forward-looking statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. MOP Environmental Solutions, Inc. disclaims any obligation to update any forward-looking statement made herein.
Wayne D. King
MOP Environmental Solutions, Inc.