- CEO
- David K. Lifschultz
- Full Time Employees
- 16
- Sector
- Industrials
- Industry
- Specialty Business Services
- Address
- One Rockefeller Center 11th FloorNew York, 10020United States New York City NY United States of America
- IPO Date
- Oct 29, 2004
- Business
- Genoil Inc. (GNOLF) develops and commercializes proprietary technologies for heavy oil upgrading, desulfurization, water purification, and environmental remediation in the oil and gas industry. The company offers the Genoil Hydroconversion Upgrader (GHU), a fixed-bed hydroconversion process that transforms heavy, sour hydrocarbon feedstocks into lighter synthetic crude oil with higher distillate yields and reduced sulfur content by up to 99.5%; Crystal oil-water separators, including Crystal Sea for marine applications certified by the US Coast Guard and American Bureau of Shipping, achieving oil-in-water separation below 2ppm in a filterless, continuous operation; Maxis 3-phase centrifugal separators for wellhead testing that remove 85-95% of free water; Genoil Sand Decontamination Technology (GSDT) for soil and sand remediation; slop oil treatment systems for waste oil recycling; and additional solutions such as port cleaning, emergency spill response, and disk stacked centrifuges. Genoil provides engineering, consulting, equipment supply, modular fabrication, and project management services, including process optimization, detailed design, and turnkey installations, often in alliance with engineering firms. Founded in 1996 and headquartered in Newport, Rhode Island, with key offices and research facilities in Edmonton and Calgary, Alberta, Canada; Sherwood Park, Canada; New York City; Constanta, Romania; Dubai and Abu Dhabi, UAE, the company targets national oil companies, producers, and refiners primarily in the Middle East, Russia, China, and internationally, deriving revenue from licensing, royalties, profit shares, and engineering fees. Recent developments include the completion of the acquisition of 100% of Two Hills Environmental Inc. to expand operational capabilities in Canada; a strategic agreement to develop five oil and gas fields in Yakutia, Russia, with 1.8 billion barrels of recoverable reserves; issuance of a $5 billion letter of intent for funding major upstream projects to boost profits for national oil companies through enhanced fuel yields; and ongoing advancements in hydrogen-saturated low-carbon Genoil 1 Synthetic MBP Crude to support energy transition and supply security amid geopolitical risks like Strait of Hormuz disruptions.