CentriCrude Services, Inc.
Raised of $250K - $1.07M Goal
To Invest
As Of October 29, 2019
Invest In
CentriCrude Services, Inc.
Making Dirty Oil Usable
St. Louis, MO
Who We Are

3% to 6% of all the oil that comes out of the ground ends up as unmarketable crude oil. The value of this unmarketable crude oil, worldwide, if all the oil were fully recovered, would be between $45 and $90 billion per year.

The Company has two products. The first is crude oil which it recovers from unmarketable crude oil using its proprietary centrifugal process. The second product is service. The service is relieving the oil field operators of their unmarketable crude oil. It is this unmarketable crude oil that is the Company’s feed stock for its process of recovering good crude oil.

Our Goals

CentriCrude Services’s objectives are:

1. Become the preferred means by which oil field operators avoid having to deal with their unmarketable crude oil and, by doing so, acquire all of their unmarketable crude.

2. Use the Company’s proprietary centrifuge technology to recover the oil and sell it at market rates.

3. Do this on a nationwide scale

Offer Details
$250,000 Goal
$10.70 Per Share/Unit
A Stock is a type of security that represents ownership or equity in a company.
What is unmarketable crude oil?

As all oil people know, crude oil does not come out of the well 100% pure. It typically comes out of the ground mixed with some combination of gas, water and fine solids. First the gas is separated. Then the mixture of the oil, the water (often called salt water), and the solids are fed into a separation tank sometimes called a “gunbarrel”. Here the oil, being the lightest (least dense) substance, rises to the top and the water and solids sink to the bottom due to gravity. The oil from the top of this separation tank then flows over into what is often called the “sales tank”. However this oil is still not 100% pure, because the separation in the first tank is never 100% complete. Some water and solids are always carried over as well.

Over time the sales tank fills. When the sales tank is nearly full, the operator typically calls the oil company buyer. The buyer then takes a sample of the oil in the tank from the sales pipe near the bottom of the tank. The buyer then puts a specific amount of the sample, which is heated to a controlled temperature, into two test tubes which are then spun in a battery powered centrifuge. When the test tubes are removed from the little centrifuge, if the amount of BS&W (bottom solids and water or bottom sediments and water) is below the acceptable limit (from 0.3% to 1.0%), then the buyer will buy all the oil in the tank above the sales pipe. If on the other hand, the BS&W is greater than the allowable limit, the buyer will not buy the oil and the operator has a problem. He now has a tank full of unmarketable crude oil.

Not all of the unmarketable crude oil ends up going into the sales tank. Some of it never gets to the sales tank. It leaves the separation tank with the salt water. In the state of Texas, it is assumed by the Railroad Commission (the state regulatory body that regulates the oil business) that the salt water contains 2% crude oil.

In summary there are two significant streams of unmarketable crude oil that come from the oil field operator’s tank battery. One is from the sales tank when the BS&W accumulates beyond the allowable limit. The other is in the salt water coming out of the separation tank. Keep this in mind: Unmarketable crude oil, whether it comes from a sales tank or comes out of the separation tank in the salt water, is basically perfectly good crude oil that just has too much BS&W in it.

The Company's Service Products

The Company’s goal is to provide a service of significant value to the operator such that the operator will give the Company all of his unmarketable crude oil. Therefore, the Company’s first service product will be structured and priced to incentivize the oil field operator to call the Company immediately upon a receiving a buyer’s rejection of the operator’s sales tank load and have the Company take his complete load and leave him a clean empty tank.

The second service product the Company intends to offer entails becoming the operator’s preferred salt water hauler and salt water disposal facility so that the Company will receive all of the operator’s unmarketable oil that is contained in his salt water. Salt water hauling and disposal is a widespread revenue producing business today, of and by itself. The Company expects to receive significant revenues from that service, but the principal objective in offering this service is to receive all of the operator’s unmarketable crude oil.

The Market

Market size

World crude oil production is widely reported to be about 80 million barrels/day. Depending on where the oil is produced and the time of year, 3% to 6% of this oil ends up as unmarketable crude. That means between 2.4 and 4.8 million barrels of unmarketable crude oil are produced every day. If one could recover all of this oil and sell it at crude oil prices averaging $50 per barrel, the annual value of the crude oil recovered would be at least $50 billion per year.

Initial target market

The Company’s plan is to target the North America market first. There are many reasons.

• The United States is the 3rd largest market country and the fastest growing.

• Of the top three markets, the North American market is the most stable market politically and economically.

• Legal protections regarding technology are strong in North America.

• Success in the United States / North America will facilitate ongoing financing internationally.

• The principals live in the U.S. and are most familiar with the North American market.

• The United States is the country in which the new practice of hydraulic fracturing, or “fracking” as it is widely referred to, is leading to rapid growth in the production of new sources of oil & gas. This technology not only produces unmarketable oil, but also leads to proportionally more salt water production and may increase the Company’s growth opportunities significantly, especially if the price of oil increases significantly, as it has in the past.

The Technology/Process

The Company’s core technology is its proprietary centrifuge technology. The ancillary technology, which is not particularly novel, together with the centrifuge technology, constitute the Company’s process. A second generation prototype centrifuge has been built and tested along with the ancillary equipment. The centrifuge has proven effective, but with quite limited production thus far. Full scale sustained operation, production and maintenance of the centrifuge and the process are yet to be undertaken. Thus the centrifuge design - and the process in total - are, as yet, not optimized or standardized.

To understand the advantages of the Company’s proprietary, patent pending, centrifuge technology, it is necessary to first understand something about centrifugation in general and in particular, the centrifuges used by the few reclaimers that actually employ them to recover crude oil.

Centrifugation Technology

Centrifugation is a technology that some of the more advanced unmarketable crude oil reclaimers employ. It would seem obvious to anyone who has ever seen the oil buyer using his simple little battery powered test tube centrifuge, that industrial size centrifuges could be used to better separate the BS&W from the good oil. After all, this separation takes place perfectly easily in a matter of a few minutes in the oil buyer’s test tube centrifuge. One would think more unmarketable crude oil operators or reclaimers would use this kind of technology; however, that is not the case, and there are good reasons why.

Industrial centrifuges are designed to separate solids from liquids. However, in the separation of unmarketable crude oil, one does not want to separate the solids from the liquids. On the contrary, one only wants to separate one of the two liquids, in particular, the oil, from the solids and water (the BS&W). The conventional industrial centrifuges are simply not designed to do this. They are only designed to separate a liquid from a solid.

Patent Application Strategy

The Company’s centrifuge technology is novel and patentable. A prior patent was granted, but it is for an early technology which was not suitable for continuous operation. The Company purchased the second-generation technology from the owner and inventor of the early technology. This inventor was, to say the least, an expert in his knowledge of oilfield technology. Yet he was not at all knowledgable regarding industrial centrifuge technology. Thus, the second-generation centrifuge, though improved, was still not developed sufficiently for every day reliable operation on the scale necessary.

In addition to acquiring the second generation centrifuge technology, the Company purchased the inventor’s patent application for this technology, which is now pending. Nevertheless, the Company employed its considerable knowledge of industrial centrifuge technology to design a third-generation centrifuge. A new patent application has now been filed which the Company’s patent attorney believes has at least five strong independent claims, most of which stand a very good chance of being approved.

The growth plan

To achieve maximum value, the Company has a comprehensive strategy to grow rapidly in all the markets it decides to enter. To do so it must have the financial strength to accomplish the plan. 

The Model DEpot

The size of this opportunity and the rapid growth strategy necessary to optimize value requires the Company to have an optimized model station or “depot” that can be duplicated quickly and efficiently.

Such a business unit or “depot” will consist of a site on which the Company has an operating facility of an appropriate size to service the target market in that vicinity. It will have a staff capable of operating and maintaining the facility, and the operations will be fully documented and standardized. The first facility will be considered optimized and standardized when operations become stable for a sufficient period of time, the process design is judged fully optimized, and it has proven effective.


The Company will have two distinct operations. The first will be the revenue producing stations which recover usable crude from the unmarketable crude. Each station is expected to have its own salt water disposal well in addition to its fixed facilities where its separation and recovery process is located. These stations will be located and sized to efficiently service a manageable geographical area within a radius of 20 to 50 miles such that rapid response to the needs of the oil field operators is readily achievable. The second operation will be a manufacturing and maintenance facility where the Company will build, test, monitor, repair and maintain every single proprietary centrifuge.


The crude oil recovery industry in the US is regional in nature and highly fragmented. Competition typically comes from small local or regional companies that utilize relatively low level technologies involving the use of gravity, heat and/or chemicals. Although there are some very large US corporations that have some oil recovery operations, these operations are typically an extremely small portion of their business.

The 2 largest US corporations involved in some form of unmarketable crude oil recovery are Continental Resources and Waste Connections.

Recovery Technology used by competition

To the best of the Company’s knowledge, neither of these companies employ industrial centrifuges in their oil recovery operations. Nevertheless, the Company’s management knows that hundreds of industrial centrifuges are employed in unmarketable crude oil recovery on a worldwide basis. This information implies the following:

• The unmarketable crude oil market is immense.

• The use of industrial centrifuges in this market is uncommon, because of lack of performance and high cost.

A Crude Oil Tank Bottoms and Oily Debris report by the US EPA, in January 2000, specifically states that “for a typical oil reclaiming operation”, reclamation is performed “through a combination of gravity separation and/or thermal treatment with temperatures on the order of 150-200ºF. An emulsion-breaking surfactant … may be used to improve oil/water separation.”

Small Competitors

It is difficult to identify just how many hundreds of small crude oil recovery businesses there are. An IOGCC (Interstate Oil and Gas Compact Commission) survey, referenced in the same EPA report disclosed above, identified 320 known crude oil reclaimers in 28 states. But since almost every salt water disposal well could be a recoverer of unmarketable crude oil, that figure is very likely far too low. As reported by the Fort Worth Star Telegram on March 31, 2013, in just Texas alone, there are “more than 8,000 active disposal wells, about 850 of which are large commercial operations, according to the Railroad Commission”.


In summary, despite the fact that there are several very large US Corporations either dabbling in crude oil recovery, or having just begun to do so, the vast majority of the US competition is many hundreds - perhaps thousands – of small companies of local or regional nature. The typical technology used to recover unmarketable crude is gravity separation enhanced with heat and or chemicals. The use of industrial centrifuges, though well known, is not widespread. In fact it is fairly rare in percentage terms, although not in absolute numbers.

Marketing Plan

Although the Company’s primary source of revenue is the sale of marketable crude recovered from unmarketable crude, the company’s primary marketing focus is not on the customers which buy its crude. The reason is quite simple. Marketable crude oil is easy to sell because it is a commodity with a ready market, the sale price is set by the market and the number of purchasers is small. On the other hand, the number of sources of the Company’s feed stock – unmarketable crude – is in the tens of thousands. And they range in size from operators of single wells privately owed to major production operators, pipeline operators, and refineries. Thus, the Company’s principal marketing focus is not on its sales of marketable crude, but on its clients, who are the sources of its feed stock. The Company believes that this marketing focus is, along with the Company’s proprietary technology, another important key in achieving success. The Company’s primary marketing strategy, in any area we operate, is to become the operators’ singular ongoing source of help in taking all their unmarketable crude off their hands so that the operators never have to deal with it. There are a number of important implications of this marketing strategy that must be thoroughly understood, and there are a number of specific marketing programs that the Company intends to put into action to achieve its objective.


David B. Park - Mr. Park is a founder of the Company and serves as its president and CEO. He was President, CEO, and CTO of Phoenixx TPC, Inc, a Massachusetts based corporation, from its inception in 1998 until 2010. Phoenixx developed, manufactured and marketed advanced materials called thermoplastic composites on a worldwide basis. Phoenixx was merged in August 2007 with TenCate, a large European multinational corporation specializing in, among other things, advanced composite materials for aerospace and other applications..

From 1985 to 1994, Mr. Park was Vice President and Technical Director of Bird Machine Company, a division of Baker Hughes. Bird Machine Company was the inventor of the industrial decanter centrifuge and the largest manufacturer of decanter centrifuges in the world for many years. While at Bird, Mr. Park initiated a sustained research project over 9 years to fundamentally and quantitatively understand the industrial centrifugation process. This program included eminent MIT professors under private contract.

Mr. Park holds a number of US Patents.

R. Mitchell Hindman - Mr. Hindman is a founder of the Company and its Chief Operating Officer. He has experience in many oil field operations including the recovery of crude from oilfield operations and salt water disposal facilities. Most recently, Mr. Hindman served as Operations Manager for two divisions of Shoshone Oil & Gas.

He has experience in all aspects of the business of recovering marketable crude from unmarketable oil, but is particularly adept in identifying, establishing and maintaining good sources of unmarketable crude.

At Scientific Oil Solutions ("Scientific"), Mr. Hindman, as Sales & Procurement Manager in 2009 and 2010, established and trained a sales force that increased the procurement of unmarketable crude from 3,000 barrels a month to 10,000 barrels per month. He also developed a successful strategy to establish satellite stations within a 200 mile radius of the main facility to substantially increase production.

Prior to Scientific, Mr. Hindman served as Sales Manager for Itero Energy.  Beginning in 2007, he initiated Itero’s procurement program where he trained the sales staff, and within three years, Itero’s production increased from 0 to 15,000 barrels of usable oil per month.

Edward A. Stoltenberg - Mr. Stoltenberg, a Certified Public Accountant, is a founder of the Company and its Chief Financial Officer. Prior thereto and since 1997, Mr. Stoltenberg was a Managing Director of Phoenix Financial Services LLC, “Phoenix,” an investment banking firm providing financial services to middle market public and private companies. During this time with Phoenix, Mr. Stoltenberg also served as a Director of Converted Organics, a NASDAQ listed publicly-held company, and manufacturer of organic fertilizer.

Prior to 1997, Mr. Stoltenberg was a Director and Chief Financial Officer of Naugles, Inc., where Mr. Stoltenberg was in charge of the Initial Public Offering (IPO) of the Company's common stock.  Mr. Stoltenberg holds a B.A. from Ohio Wesleyan University and an M.B.A. from the University of Michigan.

Meet The Team
Edward A. Stoltenberg
CFO & Founder
As a Certified Public Accountant, Ed is a seasoned international financial officer who has served as Chief Financial Officer of several NASDAQ-listed companies.
David B. Park
CEO, President, & Founder
As a mechanical engineer, Dave has extensive experience in developing process engineering technologies and, in particular, industrial centrifuge technology.
R. Mitchell Hindman
COO & Founder
Mitch is an experienced oil field operator, who has wide expertise in the recovery of unmarketable, but usable, crude oil from fracking and other oil field operations.
Specific To CentriCrude Services, Inc.

Below are a few of the disclosures for CentriCrude Services, Inc. in connection with this Title III crowdfunding raise.  A comprehensive list and description of risks can be found in CentriCrude's Form C filed with the SEC.

To date, we have not generated revenue, do not foresee generating any revenue in the near future and therefore rely on external financing.

We have no operating history upon which you can evaluate our performance, and accordingly, our prospects must be considered in light of the risks that any new company encounters.

In order for the Company to compete and grow, it must attract, recruit, retain and develop the necessary personnel who have the needed experience.

The development and commercialization of our services is highly competitive.

We rely on other companies to provide raw materials for our products.

The Company’s success depends on the experience and skill of the board of directors, its executive officers and key employees.

We rely on various intellectual property rights, including patents in order to operate our business.

We are not subject to Sarbanes-Oxley regulations and lack the financial controls and safeguards required of public companies.

Changes in raw material and manufacturing input prices could adversely affect our business and results of operations.

We may incur additional expenses and delays due to technical problems or other interruptions at our manufacturing facilities.


Read More


Review the Form C on file with the SEC for other important disclosures including GAAP financial statements, key members of the company with a significant stake or more than 20% voting rights and legal information about the company, entity type and date and place of incorporation.

The final Form C PDF comes from iDisclose and is one of the documents submitted to the SEC. It will be dynamically added to the statement above per company.

The statement below will not appear on the step but will appear on the company page. The company’s name will dynamically appear in the highlight spot. The rest of the statement will be the same per company page.

Funding with Nvsted

CentriCrude Services, Inc. is conducting a Regulation Crowdfunding offering via Nvstedwithus.com a website owned and operated by STL Critical Technologies JV I LLC. CRD Number: #288930.

$10.70 Per Share

A Stock is a type of security that represents ownership or equity in a company.

CentriCrude Services, Inc.
As Of October 29, 2019
Common Questions We're Asked
News & Updates
What's New