Brent Quality Crude Oil from Waste Plastic & Tyres
Image Credit: Shutterstock/ gualtiero boffi 17 October 2012 Oil samples produced by Riverbank, California based waste plastic and tyres to oil specialist, Green EnviroTech Holdings (PINKSHEETS: GETH), and approved in May 2012, have precipitated the pricing at the 'Brent Crude' spot price. GETH claimed that one oil company stated that lab result qualities of all of its oil samples were well within their specifications for their refinery. According to company its technology uses electromagnetic energy to convert non-recyclable waste plastic and rubber materials into crude oil, carbon black, recovered steel and syngas. GETH's Founder and CEO Gary De Laurentiis explained that it was necessary for the company to firmly establish the quality of what it is capable of producing as part of the next phase of its planning. "The result is 'Brent Crude' pricing that averages $18 per barrel higher than the NYMEX spot price. Our next step identifies the location of the first plant, apply for permits, and work with investment opportunities to fund the project. We are in the due diligence phase with several funding sources," added De Laurentiis. According to the CEO the company's immediate effort is to identify the fastest route to cash-flow operations. For the past 4 years, the GETH has tested various ways to convert no-value, difficult to recycle products, including shredder plastic, with a view to convert that material into compounded plastic resin and oil. "Given the high level quality of oil we have achieved, which was well above our expectations, we will now focus on oil conversion only," stated De Laurentiis. Read More VIDEO: Oil from Waste Plastics & Tyres Approved by Oil Company Green EnviroTech Holdings (GETH.PK) has had oil samples produced through the conversion of waste plastics and tyres accepted by a major oil company as a quality that it would purchase. Waste Plastic to Oil Firm Permitted to Double Capacity in New York Ontario, Canada based waste plastic to oil specialist, JBI has received a modification to its Solid Waste Management Permit issued by the New York Department of Environmental Conservation for its Plastic2Oil technology. Waste Plastic to Fuel Facility to be Built for SITA in Bristol London, UK based Cynar, which has developed a process to turn waste plastics into fuel, has awarded an $11 million contract to Rockwell Automation (NYSE: ROK) to design and build a new end-of-life plastic to fuel conversion plant in Bristol, UK. Free Magazine Subscription Free Email Newsletter