POR..Alb. Advanced Process Fuels Inc..I believe this stock deserves a
look..The stock has been idle for the past week .It has strength at $ 1.60
and has some resistance at $1.75 .However I believe that in the next two
week it will show upper movement to the two dollar mark . There will be
a prototype show and tell in Kingston on the 28th of Oct. at witch it
will be demonstrated the patent abilities of this Micro-Refineries to
refine waste lubricants into high Quality diesel fuels. The attendance of
this demonstration will be with no less then 40 brokers to see this
procedure in action. After this demo I believe the stock will run to $3.00
and possibly higher by new year. Please do your homework
and I believe that you will agree the tremendous potential of this Co.
FOR MORE INFORMATION PLEASE CALL BRIAN MURRY
AT 416 864 0237.
THE COMPANY
Advanced Process Fuels Inc. (the "Company" or "APF") was incorporated
pursuant to the Business Corporations Act (Ontario) on October 31, 1994
under the name 1102634 Ontario Inc. It changed its name on February
10, 1995 to Advanced Process Fuels Inc.
APF has agreements to acquire a 20% direct interest and 87.5% of a
company holding the remaining 80% of 941037 Ontario Limited
(operating as Encore-Fuel - "Enviro-Fuel"). Enviro-Fuel operates
the APF micro-refinery on leased land near Kingston, Ontario which
has been permitted as a waste-oil handling facility by the Ontario
Ministry of Consumer and Corporate Relations. APF has set aside
250,000 common shares of APF for acquiring 100% of Enviro-Fuel.
Such acquisition is expected to be completed prior to closing of the
Major Transaction.
The company also has a 25% interest in RRR Environmental Services
Ltd., which operates a waste oil refinery in Regina, Saskatchewan.
The head office of APF is located at 5405 Eglinton Avenue West,
Suite 211, Etobicoke, Ontario, M9C 5K6 and the registered office
is located at Suite 2500, 181 Bay Street, Toronto Ontario, m5j 2j7.
BUSINESS OF THE COMPANY
From October, 1994 to the end of 1996 APF operated a batch process
waste oil refinery near Kingston, Ontario, during which time APF built
a similar refinery in Regina, Saskatchewan. APF has since designed and
built a continuos process micro-refinery, near Kingston, Ontario using
the "Yu Process". In consideration of using the Yu Process , APF
pays a royalty to the developer of the greater of $50,000 or 7 1/2
of the manufacture's net invoice price on the process equipment.
APF is in the business of designing, manufacturing and installing
turnkey waste micro-refineries, using a unique pending process.
The micro-refineries convert used motor oil and other waste lubricants
into diesel fuel. APF has completed construction of a micro-refinery
at the APF Training and Research Center near Kingston, Ontario.
The facility is in the start-up and commissioning phase. APF is
discussing proposals with other interested parties worldwide for
future new installations. No contracts have been entered into and
are subject to further discussions upon completion of testing at
the Kingston micro-refinery.
For the fiscal years ended October 31, 1995 and 1996, the Company
and its affiliate had consolidated revenues of $8,500 and $1.5
million respectively , acquired feedstock as throughput in the refining
process from five suppliers and sold the output to several customers
directly and through fuel brokers. For fiscal 1996 the Company generated
revenue from the sale of a refining plant to a third party operator, leaving
revenue on a refinery plant built for an affiliate. The Company generated
losses in fiscal 1996 primarily as a result of higher than expectedinstallation costs of the
plants constructed in 1996 and of the
lower than expected quality of the output of the facility operated
by its affiliate. During 1996, the Company decided that the technology
it had acquired does not produce an acceptable quality of output and
results in a low price per unit of volume produced. It began developing
a new process to refine waste oil to produce a higher quality output.
The refinery in operation in October, 1996 closed down in early 1997
pending the completion of the construction of the new refinery at the
Kingston plant.
The new refinery is based on modern refinery technology currently
employed in the oil refinery business which has been adapted to
convert waste oil to diesel fuel. It is known as the Yu technology.
The new refinery is expected to be operational at the end of 1997.
The new refinery was engineered by Kilborn Inc. a member of the
SNC-Laalin Group. The new refinery will operate continuously
which represents a significant improvement over the batch process
previously employed.
The Kingston facility is central in APF's business plan. It is
intended to provide the following:
a. Based on satisfactory production in accordance with the
design criteria present "rack price" for #2 diesel Fuel and
current cost of waste oil, the plant will generate sufficient
revenue to implement
APF's current 12 month Business Plan. Such assumptions
may not be valid and will be dependent on the completion
of testing at the Kingston Plant.
b. Provide an environment for potential customers to see
first hand all operational aspects of a micro- refinery.
c. With the independent verification of the plant's production
capabilities, management is confident that they
will have contracts for plants to be shipped and installed in
fiscal 1997/98.
d. Manufacturing of plants will be financed with a combination of
customer deposits and progress payments.
e. In addition to the operation of the Kingston Refinery
it should be noted that APF's focus is intended to be
building, installing and monitoring turnkey micro-refineries.
The success of such program is in part dependent
the results of the Kingston refinery.
THE APF TECHNOLOGY
APF holds the North American, South American, and South
Pacific manufacturing rights for the new patented process technology
known as the YU system. The new modular equipment which is
transportable has been engineered and designed by Kilbrn Engineering ,
a member of the SNC Lavalin Group.A brief description of the Yu System
is that the waste oil is used to provide cooling in the distillation column,
which also serves to preheat the waste oil feedstock. The heater is used
to bring the waste oil up to pyrolysis temperature. At this point the
feedstock is separated with the oil going into a pyrolysis chamber and
the remaining sludge going into a coke reactor.l The distillation column
then completes the separation of Number 2 diesel fuel which is stored for
sale; heavier fuel oil which is recycled and light ends are separated and
used as fuel to operate the plant.
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