BATH, NH, June 3, 2011 (MARKET WIRE) – MOP Environmental Solutions, Inc. (OTC.PK: MOPN) reached and signed a formal agreement today with our Saudi Arabian Team (“Team SA”). The agreement establishes and defines a Joint Venture by the name of “MOP Environmental Solutions of Saudi Arabia” (MOP-SA). This Joint Venture establishes an ongoing working presence in Saudi Arabia that immediately authorizes commencement of the following activities by Team SA on behalf of MOP-SA: Consulting, Marketing, Distribution, Sales, Procurement of Financing, and Regional Manufacturing.
The Company’s CEO, Charles M. Diamond, commented “The signing of the Joint Venture Agreement has resulted in greatly increased communication with Team SA. There is much enthusiasm among all parties to proceed with all possible diligence toward the formal Development of Strategic Relationships with Oil Companies, Refineries, Pipeline Companies, Shipping Companies, Spill Response Companies, and Governmental Agencies.”
Diamond described the following other highlights of the Joint Agreement: “To ensure the long term combined success of MOP Environmental Solutions, Inc., (MOP) and MOP Environmental Solutions of Saudi Arabia, (MOP-SA); the agreement provides that:
“All equity and debt investment from sources arising from Team SA’s efforts will be held in a separate account and specifically targeted to meet the capital needs of the MOP-SA Joint Venture.”
The parties will ensure that the funds:
1. are used in conformity with all US and Saudi laws, rules and regulations;
2. are used to advance the interests of MOP shareholders.”
In the areas of Marketing, Distribution and Sales: Diamond stated: “Team SA shares the following common goals:
1. Acquisition or start-up of an On-Site Spill Response company to provide associated Full Service Oil Spill Response, Consulting, Training and Workshops throughout the Middle East;
2 . Team SA will consult with appropriate government officials to determine what official filings are needed to proceed to the commercial phase of operations;
3. Determine strategies for setting up operations within an approved commercial phase of operations;
4. Develop a sales and marketing plan identifying which services and goods to focus on in each market segment and the budget and scope of the marketing effort in order to commence commercial activity in the Kingdom of Saudi Arabia, Turkey and other mutually agreed upon regions.
5. Incorporation of Oil Spill Response Contingency Methodology for the entire Arabian Gulf in accord with predicted trajectories and likely release probabilities to mitigate regional shoreline and aquatic damage.” http://www.asascience.com/projects/pdf/90-032-ADNOC-OilSpillModel.pdf
Diamond further summarized: “The signing of this Joint Agreement precludes any further delay in the development of Strategic Relationships to take place between Team SA and Oil Companies, Refineries, Pipeline Companies, Shipping Companies, Spill Response Companies, and Governmental Agencies for Consulting, Marketing, Distribution, Sales, Procurement of Financing; and for Cleanup of Shoreline Oil Spills; and for Generalized Oil Spill Cleanup, Preparedness and Response, throughout the Kingdom of Saudi Arabia, Turkey and other mutually agreed upon regions; and for Regional Manufacturing.”
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC.:
MOP ENVIRONMENTAL SOLUTIONS, INC. participated in the cleanup effort of the BP Horizon Gulf Oil Spill.
MOP Environmental Solutions, Inc. (Pink Sheets - 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 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, absorbent material, picks up to 30 times its own weight in oil, without absorbing water, restores traction on slippery surfaces, yet is as safe to the environment as a leaf falling from a tree. MOP offers the fastest, safest, lowest cost way to restore a clean, natural environment from any oil spill, indoors, outdoors, on land or water in all weather conditions, and uniquely can pay for itself from the offsetting revenues of its oil recovery option.
MOP Environmental Solutions, Inc. addresses All Oil Spill Needs in Three Multi-Billion Dollar Markets.
- Direct to the Consumer – Ideal for leaks and spills from Auto, RV, Motorized Home Equipment and Used Cooking Oils.
- Commercial Industrial – Every company with machinery has a need for MOP.
- International Spill Response – MOP as the First Response is The Best Option for All Oil Spills on Land or Water.
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.
SOURCE: MOP Environmental Solutions, Inc.
CONTACT: Wayne D. King
MOP Environmental Solutions, Inc.www.MOPenvironmental.com