MAHWAH, N.J., April 25, 2022 (GLOBE NEWSWIRE) — Drosrite International LLC, a private waste management technologies company based in New Jersey, USA, (the “Company”, the “Corporation” or “Drosrite International”), is pleased to announce today that, the first three DROSRITE™ dross recovery systems of seven ordered from Radian Oil & Gas Services Company (“Radian” or the “Client”) have officially passed their site acceptance test and are fully operational at the Ma’aden aluminum facility (“Ma’aden” or the “Smelter”).
The final commissioning of these three DROSRITE™ systems has followed a client-specified implementation and operational period, during which the technology was used at full capacity and exhibited exceptional results.
The Company is also pleased to announce that the remaining four systems have already been manufactured and have successfully passed factory acceptance testing. Drosrite International is currently awaiting final shipment to the Smelter’s facility.
“The recent site acceptance testing, and full commissioning represents a significant milestone for DROSRITE™ technology. After years of use by downstream aluminum producers, this is the first implementation of DROSRITE™ at a major primary aluminum smelter,” said Mr. Alex Pascali, President of Drosrite International. “The fact that two such reputable and demanding companies, Radian and Ma’aden, the end-user facility of significant size and scope, have invested in the DROSRITE™ system clearly shows the strength of this technology.”
“It is very important to note that this is, as far as we know, among the first salt-free dross recovery systems implemented in a primary smelter at scale,” added Mr. Pascali. “The absence of salt eliminates hazardous salt cakes that are commonly produced by other legacy technologies, such as rotary salt furnaces, and would have to be stored or landfilled. The salt-free DROSRITE™ technology also reduces the risk of salt contamination within the plant, as well as significantly reducing greenhouse gas emissions. In addition, the commissioning of these systems generates recurring revenue, from ongoing maintenance and spare parts. With these first three systems now fully operational, we look forward to installing the remaining four DROSRITE™ systems for these clients.”
About Radian Oil & Gas Services Company
Radian is a private Saudi Arabian company providing technologies that help customers conserve energy, operate more efficiently through a broad range of solutions while saving fuel, water / electricity & reducing CO2 emissions. Radian is owned by the HAKA Group, an established conglomerate business founded in 1967 which is also based in the Kingdom of Saudi Arabia. The group is operating in a diverse range of business sectors from logistics to food and drink and from construction to real estate, owning a flourishing mix of brands under its umbrella.
Ma’aden is a diversified multi-billion-dollar mining company, and was formed as a Saudi joint stock company in 1997. Since 2009, Alcoa, the world’s eighth largest producer of aluminum, and Ma’aden have formed a joint venture that has created the world’s largest, lowest cost, and fully integrated aluminum facility in Ras Al-Khair. Ma’aden is the largest mining company in the Kingdom of Saudi Arabia, and one of the world’s most cutting-edge companies in their industry.
About Drosrite International LLC
Drosrite International LLC, is a US-based private company, duly constituted and existing under the laws of the State of Delaware, providing state-of-the-art waste management technologies to the aluminum industry. The Company is duly licensed and has the right to manufacture, market, sell and distribute DROSRITE™ systems and technology. All DROSRITE™ systems supplied by Drosrite International are manufactured in the USA.
The Company’s core business is to promote, under a limited exclusive arrangement, the DROSRITE™ systems and technology; a revolutionary salt-free rotary tilting furnace for maximizing the recovery of non-ferrous metals from dross.
Drosrite International’s focus is to supply DROSRITE™ systems, together with complete plant and accessories, required for the recovery of aluminum dross. Drosrite International LLC is in discussion with other smelters to provide this type of service on a direct/indirect basis.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation’s current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks.
Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
SOURCE Drosrite International LLC
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