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| Precision Pipe's technology allows waste tires to be converted to energy through its proprietary gasification process |
Novo Energies, the Montréal, Canada based alternative energy specialist has been granted a worldwide exclusive license to use Precision Pipe & Vessel’s proprietary gasification technology to convert plastic and tire waste into energy products including electricity and synthesis gases, as well as recycled products such as recovered steel.
The companies have agreed a collaboration to enhance and augment Denver, USA based Precision Pipe & Vessel’s existing plant in Colorado.
Precision Pipe has successfully developed and operated the only known facility of this kind in the world, capable of efficiently and effectively converting tire and plastic feedstock into high quality syngas, while producing no process emissions.
Novo plans to demonstrate the pilot facility in Denver, Colorado, as a showcase unit for government officials, institutions, utility companies, and the investment community, as well as augment its output to reach fully commercial quantities.
Novo will also seek to open multiple facilities both in the United States, and oversee. The development of energy projects outside of North America will come through its partner, Novo Energies International, Ltd.
Antonio Treminio, CEO and Chairman of Novo Energies, stated, "This is a major milestone for Novo Energies, its team, and our shareholders. In our search for the most efficient and economical methods to convert plastic and used tires into valuable energy products, we have spent the last 12 months evaluating several technologies, including pyrolysis, gasification and microwave based systems.”
This evaluation period led Novo to define the criteria below, upon which it based the decision to select Precision’s gasification technology.
• Efficient conversion of tires and plastic feedstock to energy
• Environmentally friendly -- the process produces zero toxic emissions, making it a green energy technology
• The preliminary synthesis gas resulting from conversion of tires and plastic meets strict standards on quality and consistency
• Has the highest carbon conversion of any known gasification system on the market
• Self sufficient by using the produced syngas to power the process
• Low cost of production
"We are extremely confident that this collaboration between Novo Energies and Precision will allow us to develop the first commercially and economically viable tire to energy facility in North America." Added Treminio.
