Oil and gas are extracted from the Earth through a process called hydraulic fracturing. The extraction process relies on high-pressure water mixed with additives to fracture the oil-bearing rocks beneath the Earth's surface. Genesis Research and Technology Group has perfected and patented a system that is transportable and chemical-free for the water used in the fracking process. Genesis Research and Technology Group will release the much-anticipated ITO (Initial Token Offering) on the blockchain and cryptocurrency exchange. "Our mission is to have a global expansion so that the water used in the fracking process can be treated on-site, chemical- free and reused over and over again," says Ron Price CEO of Genesis Research and Technology Group.
The average price of one barrel of oil is $50; however, that barrel comes with a cost. Four barrels of water are required to produce one barrel of oil. It costs $48 to transport and eliminate those four barrels of fracking water. That leaves an average profit of $2 per barrel of oil. The Genesis chemical-free technology treats the water on-site for minimal cost up to 70 percent less per barrel to clean and reuse fracking water.
The water, in the past, used to produce the chemical fluids required for the fracking process either came from nearby groundwater and surface water or brought in by the truckloads from other freshwater sources. "Genesis has developed a game-changing technology that eliminates the use of chemicals and restores the water back to a brackish reusable state involving no transportation," states Billy Hood, VP of Marketing for Genesis Research and Technology Group. Considering that fracking-produced water accounts for roughly 98 percent of all waste products generated by the petroleum industry and 40 billion per annum to dispose of fracking-polluted water, Genesis has devised a revolutionary technology that eliminates chemicals and transportation. "Commercial 'chemical-free' water cleaned on location will reduce cost for the oil and gas industry by up to 80 percent annually," says Michael Lagow, CAO of Genesis Research and Technology Group.
Darren McVean, CEO of MVP Asia Pacific, LLC states, "We believe the blockchain solves the serious issues around trust and verification of environmental impact monitoring. With the introduction of blockchain and smart sensor devices, ultimately environmental regulation will require real-time monitoring of equipment sensors to ensure instant access to accurate environmental statistics." Genesis Research and Technology Group senior executives approached MVP and Universal Media Group 18 months ago because Genesis was exploring a new technology partner with experience in IoT (Internet of Things) smart devices. MVP and Genesis made the commitment to explore the storing of valuable environmental records to the blockchain. MVP was able to develop the IoT and blockchain platform for Genesis along with access to MVP's massive electrical engineering team that worked closely with the technology department to test and simulate the water readings from the Genesis system.
In 2008, roughly 25 billion barrels of polluted water was produced in the United States alone. This year 2017 it is estimated that the number of barrels of produced water will number in the 31 billion barrels. In response to this immense threat to the environment, Genesis Research and Technology Group has developed sole-sourced, green, state-of-the-art Industrial Water Treatment Technologies that treat produced and frack water and return it to a reusable state.
The Genesis process relies on three licensed purification methods: ozone (O3) generation, coagulation, and ultrafiltration. Using these cutting-edge technologies, Genesis can offer the following services:
About Genesis Research and Technology Group: Genesis Research and Technology Group is a U.S.-based company that has developed a patented, state-of-the-art technology that provides clean reusable water for the world's population. The Company exploits its chemical-free technology as its efforts are being recognized by several leading government agencies developing and implementing Green technologies to protect and preserve our Earth's resources.
Genesis Research and Technology Group provides custom-built state-of-the-art water treatment technologies for all types of water. Years of research and development go into perfecting this technology that allows Genesis to offer its clients a sole source, reusable water filtering and cleansing technology that is totally chemical-free.
For more information: www.genesisrtg.com
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