Brigg firm's £5 million oil deal to get more from barrels
A Brigg based business has signed a contract worth in the region of £5 million for a multi-million-dollar oil refinery project in South America.
GSA Environmental (GSAE) Ltd has developed its own technology to help consumers get the most value possible out of every barrel of oil.
Over the past 10 years, GSAE has developed technology applicable to the new hydroconversion processes. It has been developed in order to address the challenges inherent in "bottom of the barrel" processing and allows GSAE to recover the metals for reuse as catalyst.
Targeting the economic refining of heavy and extra heavy crude oil, the aim is to derive increasing value from the crude.
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The contract in Venezuela is currently scheduled for one year but Matthew Grimley, technology director at the firm, was hopeful it would be extended.
Mr Grimley explained the project came as a result of a lot of hard work.
"We have been developing the business for around 10 years but this is by far the biggest project that we have been able to secure," he said.
"We have developed a process that will enable us to extract the materials to recover the catalyst.
"It will help alleviate a problem that is increasing all over the world as increasing demand for oil has led to wider use of heavy and sour crudes as the world's light sweet crude sources are depleted.
"These crudes contain high levels of metals pollutants which become further concentrated in refinery process residues. The development will help to get more value out of each barrel of oil, that will only continue to get more and more expensive."
GSAE, which has offices in Brigg Market Place, was established in 1996, with brothers Matthew and Michael working with their father, Andrew, owner of Grimley Smith Associates. They designed a plan to extract metals from power stations, but then as the opportunities grew, the work of GSAE became more focused, and separate from GSA.