In this audio interview, we are pleased to speak with David Lifschultz, who is the CEO of Genoil, Inc. – OTC Pink: GNOLF

Genoil inc - logo

Interviewee: David Lifschultz
Company: Genoil, Inc.
Trading Symbol: GNOLF

About David Lifschultz

David LifschultzDavid Lifschultz is the chief executive officer of Genoil Inc and a member of the board of directors. He joined Genoil in 2001 bringing more than 30 years of technology industry leadership, and executive management experience.  Mr. Lifschultz is extremely well versed on the global macro and geopolitical dynamics affecting the energy sector.

Prior to joining Genoil, David Lifschultz served as the President and Chief Executive Officer of Lifschultz Terminal Leasing Inc., a holding and investment company that allocates capital for alternative energy technologies.

Mr. Lifschultz was president and chief executive officer of Lifschultz Industries Inc. which was a high tech precision metrology company notable for developing heat measuring instruments that could measure heat to the nano degree. When David took the reins in the early 1990’s Lifschultz Fast Freight was in extreme distress. Mr. Lifschultz saved the company and built the it upand sold it 8 years later for $ 22.80 a share to the Danaher Corporation (DHR).  Lifschultz Fast Freight (founded in 1899) was a surface transportation company with 2000 employees and revenues of approximately $100 million per annum.

Prior to that, David Lifschultz  also supervised Trans Air Freight Systems, which he sold to Air Express International (AEI). David Lifschultz supervised Ocean Freight Forwarder, Wolf and Gerber and brokerage clearing house, Loretz & Co. Mr. Lifschultz created the first integrated surface air transportation system in a successful effort to improve operational efficiency.

About Genoil, Inc.

Genoil - middleOur business model is to utilize critical new technologies to solve large energy and environmental problems. We further seek to create strategic customer partnerships to share in the financial, economic and environmental benefit of each technology. Our partnerships create long term relationships which provide long term recurring revenue which benefits our clients, shareholders, and Genoil Inc.

Genoil’s client driven business model is designed to maximize revenues from the commercialization or licensing of its core technologies. Revenues will be generated from engineering and consulting work. These efforts are facilitated by our world class board of advisors, partners, and Genoil’s engineering and operating team. Our primary sources of revenues will be from:

  • Genoil Hydroconversion Upgrader.
  • Upstream & Downstream Engineering.
  • Oil and Water Separation.
  • Consulting services.
  • Procurement.
  • Oil field testing.
  • Soil and sand remediation.
  • Environmental cleanup.
  • Marine oily water separators.
  • Environmental protection.

Genoil Hydroconversion Upgrader (GHU)

  • 900 Billion Barrels of heavy and even more sour crude worldwide.
  • Upfront/basic engineering: project design, procurement and implementation for upstream and downstream projects.
  • Schedule A engineering Project design, procurement and implementation for upstream and downstream projects.
  • Increase the product yields of crude $20-$30 per barrel.

Technology licensing fees:

  • Long term licensing agreements based on $ per flowing bpd.

Production royalty revenues:

  • Long term upfront licensing fee based on $ per flowing bbl.

Merchant plant revenues (based on Genoil ownership of the plant with/without strategic partners):

  • Profit on acquisition of cheap crude oil, upgrading and then selling upgraded crude oil.
  • Profit on acquisition of heavy oil reserves, upgrading and then selling upgraded crude oil.
  • Service agreement based on a toll fee for upgrading customer’s crude oil.

Upstream & Downstream Engineering:

Engineering and consulting revenues:

  • Alliance with Stone & Webster
  • Refinery retrofitting
  • Upfront/basic engineering:project design, procurement and implementation for upstream and downstream projects
  • Schedule A engineering
  • ECM: Approximately 15% – 20% of total project cost

Oil & Water Separation

With expected new partnerships, sales income stream:

  • Integrates with our sand decontamination unit.
  • Crystal SeaTM bilge water separator for maritime use.
  • Crystal Separator for oil field production.
  • Waste pits reclamation and decontamination.
  • Waste water recycling.
  • For contamination cleanup/ Oil spills.
  • Port services. Bilge cleaning within the port.
  • Crystal Sea Separator for Oil Platforms.
  • Gasoline Diesel Service Stations/Car Washes.
  • Cement Factories.
  • Salt Mines.
  • Thermal Power Stations.
  • Sand-washing plants, recycling of condensed steam in oil batteries.
  • Refineries.

Port Oil & Water Separation (Environmental Cleanup)

Technology licensing fees:

  • Long term licensing agreements based on $ per vessel ton.
  • Long term upfront licensing fee based on $ per vessel traffic.
  • Waste oil/slop oil : recoup the oil and sell the oil.
  • Emergency port response plan. Always on standby.

Three Phase Separation & Well Testing:

  • Mobile testing unit.
  • Separation oil water & gas.
  • Mobile units sales.

Sand Cleaning:

  • Cleaning up contamination.
  • Waste Pit environmental cleanup.
  • Reclaiming oil.

Oil Recycling:

  • Waste pit oil processing & recycling (some waste pits are up to 250,000 barrels).
  • Removal of Benzene from waste pits and surrounding sand.
  • 10 million barrels of tank bottoms produced annually.
  • Removal of other environmental dangers from waste pits such as Arsenic, Barium, Cadmium, Chromium, Lead & Selenium.
  • Ground water cleanup and rehabilitation.
  • Dead oil recycling.
  • Tower bottoms/sludge recycling.
  • Power to save local communities, and prevent harm to young children.

Genoil’s long term goal is to vertically integrated it’s technologies delivering finished petroleum products into the global market.