LOOK ANOTHER 7 YEAR ENBC JV THAT WENT NO WHERE...
KOCH REFINING COMPANY. In December 1993, EBC entered into an alliance with Koch Refining Company ("Koch") for the development of a biotechnology-based desulfurization system for refinery oil streams. The alliance is expected to accelerate the development of BDS for certain gasoline streams and customize that development for Koch's applications.
Under the terms of the alliance, EBC is primarily responsible for improving the performance of the biocatalyst used in the BDS process and developing a commercial BDS system. Koch primarily is responsible for selecting and providing the target gasoline stream as well as testing desulfurized product quality. ***ROFL!!! SO LET ME GET THIS STRAIGHT... KOCH HAS NO RESPONSIBILITY IN THIS JV AND ENBC GETS TO USE KOCH'S NAME FOR PR HYPE?***
Koch also will provide engineering support as needed in the development of a BDS unit for Koch's operations. Until commercialization, EBC and Koch will each bear their own costs and expenses incurred in connection with the collaboration. Upon commercialization, Koch will be repaid for direct costs and expenses incurred in assisting BDS development. ***HUH ? WHAT A CROCK OF CRAP***
Repayment will be in the form of a 10 percent rebate on sulfurization processing fees charged to Koch until Koch has been repaid its share of BDS development costs. EBC expects that the development alliance with Koch will facilitate commercialization of EBC's BDS technology for target gasoline streams.
Koch is a part of Koch Industries, one of the largest privately held companies in the United States. Koch Industries, with annual revenues in excess of $30 billion, is involved in virtually all phases of the oil and gas industry, as well as chemicals, chemical technology products, agriculture, hard minerals, real estate, and financial investments. |
