Jul 1 2013
JBI, Inc. (the “Company” or “JBI”), a clean energy company that recycles waste plastic into liquid fuels, is pleased to announce that it has received all pertinent permit amendments from the New York Department of Environmental Conservation (“NYSDEC”) to move forward with including heat transfer fluid into its Plastic2Oil (“P2O®”) process.
The permitting allows JBI to use heat transfer fluids (“HTF”) in conjunction with processing plastic in their Plastic2Oil process. The Company anticipates this will significantly increase its total production yield. Heat transfer fluids are hydrocarbon-based liquids; including waste oil, hydraulic oil, cutting fluids, off-spec lubricants, monomers and waste fuels derived from oil/water separators. The fluids act as natural densifiers for lower density plastics and as heat transfer agents that will help generate large amounts of heat into naturally endothermic, dense, large pieces of plastic.
“Processing plastic with heat transfer fluid is a huge move forward in the evolution of our technology,” stated JBI’s Chief of Technology, John Bordynuik. He continued, “Our team has the HTF hardware for our machines already installed, so we’re anticipating minimal changes for our processors in order to be able to almost immediately begin taking advantage of our permit amendment. Additionally, our stack emissions based on the December 2012 stack test with HTF continue to be well within the NYSDEC’s standards, continuing to prove the viable green aspects of our process.”
JBI Chief Executive Officer Tony Bogolin commented, “We are excited about this permit amendment, as we believe it will provide a boost in productivity and enhance the feedstock flexibility for the Company.”
Since the Company’s inception, through March 31, 2013, JBI has processed approximately 2.8 million pounds of plastic and produced approximately 482,000 gallons of in-spec end user fuels, including diesel, fuel oil #6 and naphtha.
For further information about JBI, Inc., including its financial results, readers of this press release should review the Company’s disclosures in its Annual and Quarterly Reports on Forms 10-K and 10-Q, which is publicly available on the website of the Securities and Exchange Commission at www.sec.gov.