Green Oasis Environmental, Inc. Receives Favorable EPA Ruling
CHARLESTON, S.C., June 15 /PRNewswire/ -- Green Oasis Environmental, Inc. (OTC Bulleting Board: GRNO) announced today that on June 9, 1998 The United States Environmental Protection Agency, Region 4, Atlanta, Georgia has determined that the GOE process is not subject to 40 C.F.R. Part 60, Subpart NNN (Standards of Performance for Volatile Organic Chemical Manufacturing Industry (SOCMI) Distillation Operations) since the products made in the unit, No 2 and No 6 fuel oils cannot be sold or used as any of the chemicals listed in 40 C.F.R. 60.667. The EPA ruling further clarifies that since the Company has no control over the chemicals contained in the feed stock for its cracking/distillation operation "it would be unreasonable to conclude that any listed chemicals are intentionally included in the Company's products."
William D. Carraway, President of the Company, stated, we are pleased after years of debate that the NNN issue has been settled by the EPA. This ruling will ease permitting in the United States and will be well received off shore. The letter also clarifies the synthetic fuel issue by stating the process is "A Synthetic Organic Chemical Manufacturing Industry (SOCMI) Distillation Operation" therefore Section 29 Tax Credits should apply on all fuel sold No 2 and No 6 fuel oils. This would apply to the Charleston plant which is 47% owned by the Company.
Green Oasis patent-pending process is designed to produce marketable fuels from waste oils in a closed cycle, one step process. The Company manufactures equipment for its own use as well as markets worldwide.
SOURCE Green Oasis Environmental, Inc.
CO: Green Oasis Environmental, Inc.
ST: South Carolina
IN: ENV
SU: LAW
06/15/98 09:48 EDT prnewswire.com
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