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ODMCoin team just launched first in the world ICO campaign for oil sludge utilization project

October 03, 2017/ 07:35

Tyumen. Tyumen oil services startup  just have lunched ICO campaign for funding their oil drilling sludge utilization mission. Token sale started on October  2nd.

From October 2nd to October 31 anyone who wish can become a co-owner of that technological solution. Investments attracted on blockchain platform will provide more independence during project development from state and large companies as according to developers thoughts. Raised funds will be used to start manufacture of processing complexes on industrial scale. 85 million of rubles is needed to manufacture first two complexes. One ODMCoin costs $66. Token buyback period will be in June, 2018 and it will increase the price too.

For reminder, project aims to process oil drilling sludge with mobile complexes into building materials right on the well site. This technology allows processing drilling wastes into materials to build roads, also processed water and fuels. All complexes will be manufactured  on one of the Tyumen factories.

“After ICO completion, we will manufacture two complexes to process 1,620 tonnes of oil drilling sludge each month”  says Alexandr Doronin, CEO of the project and also that in July, 2018 company aims to start earning  and using net profits will start buying back tokens at a price of  $132 per 1 ODMCoin. Average income from dividends is 5,5% monthly, also dividends will be deposited each month. This way it will allow Investors to sell tokens at much higher price than they were bought, also token holders will get rights to exchange tokens to receive equivalent amount of by-products (oil, gasoline, building material). In the event of IPO, investors will be offered an option to exchange tokens for company shares.

Financial instrument ODMCoin is administered on WAVES blockchain platform. ODMCoin can be acquired for USD, bitcoins and other cryptocurrencies.

Also, just recently in September team from Tyumen finished their PreICO and already successfully raised $200,000 from selling 4,000 tokens. This amount was raised in 2 weeks in full, so PreICO campaign was closed ahead of the end time. Major 60% of investments came from Russia and 40% were foreign.

Recently, this technological solution was introduced again, this time on industry conference “Green technologies in Industry and Subsoil use”. Presentation sparked vivid discussions among local officials and Oil&Gas professionals. Attendee who asked the most interesting question on a project received a token and became a token holder in company.

Visit ODMC website to learn about ICO and team progress.

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