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Petrosonic Energy Inc. (PSON) Initial Coverage
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Petrosonic Energy Is Generating New Revenue

Petrosonic Energy has recently announced they are now generating revenue due to the completion of their emulsification processing plant in Albania. With the plant now completed, PSON is now able to start the heavy crude emulsion process.

"We are very pleased to achieve this major milestone for Petrosonic shareholders," announced Art Agolli, CEO of Petrosonic. "The start of the heavy crude emulsion process demonstrates our ability to generate revenue from our technologies and to complete our projects on time. In addition, most of the infrastructure used for the emulsion process is the same that will be used for our de-asphalting Sonoprocess™ and their completion and operation is also an important step forward."

However, this isn’t the only thing going for PSON, they have also completed several major components of the de-asphalting Sonoprocess line within the new plant. In addition to the new plant, PSON still has plans to complete their engineering and completion of the solvent recovery system that is being done by Gas Liquid Engineering of Calgary, Canada by Q3.

2013 is going to be a pivotal year for Petrosonic," added Art Agolli, "as we complete our de-asphalting Sonoprocess plant, consolidate and increase our IP portfolio and commercialize our heavy oil technologies further."

Source: MarketWire


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