Tire Recycling Firm Completes R&D on New Recovery Process
17 September 1998
Tire Recycling Firm Completes R&D on New Recovery Process; Capitalization of Full Scale Operations Underway
CHERRY HILL, N.J.--Sept. 16, 1998--Creative Recycling Technologies Inc. (OTC BB:CRTZ) Wednesday announced that the R&D phase of its tire recycling technology is finished and a fully operational prototype has been completed.
Test results show significant energy savings from co-generation of electricity from the process as well as a high internal rate of return on full-scale plants from by-product recovery.
Frank Pringle, president of Creative Recycling Technologies said, "There have been many attempts to cover up, hide or otherwise re-use tires, but our proprietary process is by far the most efficient, earth-friendly, economical method available today. Full-scale plants can provide payback of initial investment in less than eighteen months."
The first full-scale machine will be able to process about one million tires per year. Later models will be able to process about five million tires per year. The process not only pulverizes the tires, but also generates several reusable, salable products.
High-grade carbon black, used in inks, laser and copier toner and other applications is a primary result of the process. High-grade steel, from the belts is another. Combustible gases are the third class of by-products. The combustible gases are recovered in two ways. The first is No. 6 diesel fuel, which is sold. The second is the remaining combustible gases which are used to co-generate electricity next to the machine to help power the process. This results in about a 60 percent co-generation factor. Exhaust gases are recycled and burned off in the process.
Negotiations are underway to co-venture with several states and as well as local governments and several international sources for the installation of full-scale plants. Significant economic incentives are being offered to Creative Recycling Technologies because of the fast payback of capital from operations, significant employment opportunities and positive environmental impact as well as the ability to generate significant back-end revenues from by-products.
Creative Recycling Technologies is also in the process of completing negotiations with an investment banking firm for the funding of operations and administration.
Unsightly, dangerous, polluting, expensive, and unhealthy tire dumps will be economically eliminated and scrap tires turned into revenue sources. Announcement of the first full-size plant and recycling operation is planned for the last quarter of 1998.
Research and Development of a Home Power Generation unit is underway. This unit will be furnished to homeowners by local gas, power, or fuel sales companies. The public power grid will be used as a backup power source.
In this version of the machine, chopped tires will be furnished as fuel and the carbon black burned off in the power generation/combustion process. The steel and any other non-combustible impurities will be collected in a separate bin. The fuel hopper will be refilled and the machines serviced as needed. There will be two sizes of these machines. One will be for individual homes, and the other larger unit for housing developments, apartments or institutions. Excess power will be sold to existing power companies through local utilities or deregulated power companies.
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