Environmental Waste International Announces Three Memoranda of Understanding for the Sale of Used Tire Plants
AJAX, Ontario, Feb. 04, 2019 (GLOBE NEWSWIRE) — Environmental Waste International Inc. (“EWS”) (TSX VENTURE: EWS) (the “Company”), announced that it has signed a Memorandum of Understanding with three companies over the last three weeks, each for the sale of a TR40 waste tire system, which uses EWS’s proprietary Reverse Polymerization™ technology. Each system, which is expandable, will initially be capable of processing 40 metric tons of tires a day equal to about 4,400 average car tires (13,200 metric tons per year). Each facility will produce annually 5.7 million kilograms of reclaimed Carbon Black, 5.4 million liters of oil, and Syngas which can be used to generate power to run the plant. Each of these commodities can be sold to produce rubber, plastic, coatings and many other valuable products.
These plant sales from three different countries along with an MOU signed in 2018 represent potential sales of about $60 million USD over the next two years. Each sale is subject to the completion of definitive documentation, including a technology licensing contract and customary closing conditions. There is no guarantee that any sale will close.
Bob MacBean, CEO, said, “This is an exciting time for EWS. These MOUs confirm our belief that our technology is uniquely positioned to deal with the worldwide waste rubber problem in a profitable and environmentally friendly manner. We are currently in various stages of discussion with prospective customers or partners in countries around the world, which underscores the global nature of the problem and the attractiveness of our solution.
“The signing of these MOU’s comes after extensive due diligence conducted by these customers who concluded that our technology was superior from both an economic and environmental perspective. As with most emerging technologies, and almost all regulated industries such as waste management, there is a long lead time associated with business development initiatives. Nonetheless, I am pleased with the activity we are seeing in our sales pipeline.”
About Environmental Waste International Inc.
Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS’s unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.
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