Vivakor (NASDAQ: VIVK), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, today announced its entry into a definitive agreement to acquire Louisiana -based Silver Fuels Delhi LLC (“SF Delhi”) and Texas-based White Claw Colorado City LLC (“WCCO”). “The potential acquisitions of SF Delhi and WCCO provide a monumental opportunity for Vivakor,” said Matt Nicosia, CEO and chairman of Vivakor. “If we are able to close these acquisitions, we would add significant revenue and earnings before interest, taxes, depreciation and amortization (‘EBITDA’) while putting in place the necessary infrastructure to continue to grow our historical business of cleaning areas contaminated by hydrocarbons. When we have additional RPC machines manufactured and available, we would anticipate placing a RPC at each location and believe the synergies provided will result in Vivakor increasing revenue and earnings at such locations. Additionally, James Ballengee, the principal of Jorgan and JBAH, is a noted expert in the oil industry, having previously built and sold several sizable companies which operated in the oil industry, including Bridger Logistics, which was sold to Ferrellgas Gas Partners L.P. for approximately $840 million. We anticipate welcoming James to the Vivakor team, as he utilizes his decades of energy industry experience to help drive our business development efforts moving forward.”
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About Vivakor Inc.
Vivakor is a clean energy technology company focused in the area of oil remediation and natural resources. Vivakor’s corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on its patented Remediation Processing Centers that allows for the environmentally friendly recovery of bitumen (heavy crude) and other hydrocarbons from the remediation of contaminated soils. It is believed to be the only remediation system that can clean soils with more than 5% by weight oil contamination while fully recovering the oil and leaving the soil fully viable for reuse. It is currently focused on extraction from shallow, oil-laden sands in Eastern Utah, along with generating petroleum-based remediation projects in Kuwait and in Houston, Texas. For more information, visit the company’s website at www.Vivakor.com.
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