Klean Signs Letter of Intent to Supply 5 Recovered Carbon Black Upgrading Facilities in India
VANCOUVER, British Columbia, Oct. 02, 2019 (GLOBE NEWSWIRE) — Klean Industries Inc (“Klean”) is pleased to announce the signing of a non-binding Letter of Intent to supply equipment for another 5 more rCB upgrading projects in India which will bring the total number of built facilities to 8 in just India alone over the past 2 years. Klean’s presence and activity in Asia is expanding and as of late there has been a large and growing interest in Klean’s advanced technology which is required to produce high quality, low cost Recovered Carbon Black (“rCB”) throughout South East Asia. Klean anticipates further expansions as the demand for rCB is significant, especially with the virgin carbon black shortages and import tariffs on Carbon Black in India.
A core part of Klean’s intellectual property and know-how is for the processing of scrap tyres. Klean has a proven portfolio of advanced technologies that transforms the waste tires into high quality, valuable raw materials primarily Recovered Carbon Black and Recovered Fuel Oil. Klean’s tyre char upgrading systems enable the economic conversion of low-value tire char into high-value Carbon Black replacements which can replace virgin Carbon Black by volumes of 10% up to 100% depending on the applications. The additional expansion and equipment sales in India could significantly disrupt the rCB market place and make India a leading producer of rCB products for the plastic, automotive and rubber industries. These new resource recovery plants have the potential to easily bring online another 75,000 metric tonnes of rCB annually. This combined with the already existing supply chain and production portfolio makes for an exciting and growing business opportunity in India.Klean is currently working with several of the largest global tyre manufactures, rubber and plastic automotive parts suppliers along with numerous other supply line producers and end users who all see the market potential and opportunity for rCB to offset both emissions and costs associated to traditional carbon black manufacturing. It’s estimated that the carbon emission offsets alone from these combined facilities will be excess of 225,000 metric tonnes annually. Klean’s CEO said, “With ongoing developments Klean has been able to bring its recovered carbon black plant manufacturing costs down considerably and its quality of production techniques up, thus enabling further rapid expansion into other adjacent Asia countries as well. Klean has spent years developing its relationships and with long term arrangements in place throughout the supply chain this enables Klean to do what other vendors and suppliers cannot, at less than 50% of the capital costs.”Klean has further reinforced its current business initiatives by coupling its manufacturing capabilities with trade finance relationships. By establishing and strengthening international trade finance relationships with the Export Development Bank of Canada (www.edc.ca) and Elevate Financial Corp (www.elevatefinance.ca) the company is now able to offer new and existing customers with financing on competitive terms for loans to purchase plants and equipment of all sizes on approved credit (“OAC”) of up to 85%, both secured and unsecured depending on size and financial requirements.About KleanKlean Industries comprises an international team of award-winning experts with decades of experience in the design, manufacturing and deployment of alternative energy solutions, including clean power production, waste management, recycling, and resource recovery. Klean uses proven technologies to rapidly develop projects that produce the highest quality fuels, recovered Carbon Blacks (“rCB”) and green energy from various kinds of carbon-based wastes. Klean specializes in building projects that use thermal technologies such as gasification, pyrolysis and carbonization, which convert scrap tires, waste plastics and municipal solid waste into domestic energy, sustainable green commodities and new cleantech jobs.For more information about Klean, please visit www.kleanindustries.com or follow us on:LinkedIn ~ http://www.linkedin.com/companies/kleanindustries
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