Spectrum | Application Preview
Spectrum is seeking government grants to enhance its operations in the oilfield waste disposal sector. The funds will be allocated for improving heating efficiency and environmental impact, constructing a washout pit for trucks, and ensuring sufficient working capital for payroll and vendor payments.
With two years in the industry, Spectrum has gained valuable insights on processing tank bottom material, positioning itself for increased profitability. The business plan includes plans to expand facilities in strategic locations aligned with new oil and gas drilling activities.
The management team, comprising five members with over 50 years of combined experience, is well-equipped to lead this initiative. They have access to innovative technologies that can improve operational efficiency and reduce environmental impact.
Currently, Spectrum faces competition from two established players nearby and a newer competitor situated further away. However, the company boasts a competitive edge through the use of an advanced electromagnetic technology that enhances the separation process, making it more effective. Additionally, one owner, with a PhD in Space Physics, can leverage further technological advancements to significantly boost processing capacity given the right funding.
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General Information
Business Registration Number: 32-0582715
Location: Houston, TX, United States
Length of Operation: 2
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Funds are needed to make heating of material more efficient and environmentally friendly, build a wash out pit so we can wash out trucks and provide working capital needed for payroll, paying vendors etc.
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Business Plan
We have learned a great deal in our 2 year history on how to efficiently process tank bottom material and believe it can be a highly profitable business. Our plan is to add additional facilities in other strategic locations where new oil & gas drilling & production requires our services. Ownership & Management team of 5 has over 50 years of combined experience in providing oilfield waste disposal services, and has access to new technologies that can make the process more efficient and environmentally prudent.
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Self Identified Competition
We have 2 competitors (Production Waste Solutions & Toro Operating) located within a mile of our facility. Each has been in business for several years. A third new competitor (Ecostream) recently purchased a facility roughly 30 miles from our location, and also operates a couple other facilities in West Texas. We are using a new electromagnetic technology that lower the viscosity of the material we are processing which significantly increases the separation of the fluids. One of our owners who has his PHD in Space Physics also has access to a couple of other new technologies that would significantly increase the amount of material we could process if proper financing was available.
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Contact Applicant
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