Enviro Voraxial Technology

Enviro Voraxial Technology finalized a purchase agreement with Schlumberger, selling intellectual property for $4 million. $3 million was paid at closing, and $1 million is payable upon completion of asset and service transfer within about 12 months. EVTN received a royalty-free license to use patents outside oil and gas.

Enviro Voraxial Technology signs a purchase agreement with Schlumberger, granting EVTN a worldwide royalty-free license to use patents for the Voraxial Separator outside oil and gas, and manufacturing rights for Schlumberger for three years. The deal is expected to close within three months.

Enviro Voraxial Technology Inc has entered into an agreement to sell intellectual property, substantially consisting of its Voraxial Separator patents and trademarks, to Schlumberger.