January 2005

Solucorp and Ambiente prepared for startup of Ravenna mercury remediation project

Ft. Lauderdale, FL— Rich Runco, president of Solucorp Industries announced that Solucorp and Ambiente are prepared for the startup of the Ravenna, Italy mercury remediation project.

Ambiente/Syndial, which are part of the ENI Group has updated Solucorp as to the progress on the Ponticelle, Ravenna mercury remediation project. As per the written project schedule received from Ambiente/Syndial, the engineering work at the site has been completed, environmental and governmental permits have been received and the civil work for site preparation is underway. All processing equipment has been built and scheduled for assembly commencing December 13, 2004. All remaining details will be completed by the end of December. Ambiente/Syndial has advised Solucorp that the issuance of the purchase order to commence activities on the Ponticelle, Ravenna project will be sent before year’s end.

Solucorp’s MBS® has successfully met all Italian regulatory (NAS) requirements and has received Italian regulatory (NAS) approval for its technology to be used on the Ravenna Site culminating years of joint efforts by both Ambiente and Solucorp personnel.

“This culmination of the combined efforts of Solucorp’s team along with the Ambiente/Syndial representatives started seven years ago and marks the end of an intense two year collaboration on development and planning work and the beginning of a long-term relationship between Solucorp and Ambiente/Syndial,” says Solucorp president Rich Runco. This is the initial project in Italy, by Ambiente/Syndial, which has been priced at US $ 4.7 million using Solucorp’s patented MBS® technology for which Ambiente has signed an exclusive agreement to remediate heavy metals contaminated sites. In communications received from Syndial over 397 million Euros has been placed in an escrow account by Syndial, to guarantee payment for the Ravenna Project and other ENI scheduled remediation projects thereby solidifying Syndial’s commitment to execute its corporate plan to remediate heavy metals and other contaminated sites.

Ambiente, operating in the field of remediation and environmental services entered into the exclusive agreement with Solucorp “to strengthen its competitiveness and leadership in the Italian market through cooperation with well established technological companies.” Ambiente notes it is “operating in a market sector characterized by strong competition at a worldwide level” where competitiveness also applies to proposed activities toward ENI Group Companies and “requires a cooperation which would enable it to offer ENI Group Companies the best remediation technology both under technical and economical aspects.”

The Agreement grants Ambiente the exclusive right to market and apply; and Ambiente agrees to exclusively use Solucorp’s MBS® technology for ENI Group and its customers, limited to the Country of Italy, for remediation of on-site projects for heavy metal contaminated soils, sludge and industrial ash.

Both Solucorp and Ambiente agreed that the MBS® technology will first be applied to the ENI Group’s Ravenna, Italy site where a project for remediation of approximately 200,000 tons (per Ambiente) of mercury and other heavy metals contaminated soils is under Italian environmental (NAS) government administrative procedures.


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