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Not much wonder there have been no previous run ticket releases - the pyrolysis industry has not had a lot of production in the past. That's where JBI differs - perhaps they will be a trend setter.
Insurance companies often determine whether something is settled, after all it is their money.
Also the investors in the SEC issue requested that the case be settled as a condition of financing.
Cash shouldn't be a problem otherwise we'd be seeing the CEO working 12 hours, 7 days a week instead 2-3 days a week. If there are financial issues and he's not working around the clock they'll be a lot of upset shareholders.
and I'll be a customer each day
material - so cat out of the bag scenario
Partial indemnification costs would still be more than the amount of the settlement not to mention the time away from work (it takes weeks to prepare documents and give testimony at pretrials and trials). No, this was by far the cheapest way to get rid of this + is was a requirement of the agreements with the investors.
I never heard of a process that can make in-spec fuel - you?
No, the JBI catalyst is a game breaker and will soon result in profitability.
“Processing plastic with heat transfer fluid is a huge move forward in the evolution of our technology,” stated JBI’s Chief of Technology, John Bordynuik. He continued, “Our team has the HTF hardware for our machines already installed, so we’re anticipating minimal changes for our processors in order to be able to almost immediately begin taking advantage of our permit amendment. Additionally, our stack emissions based on the December 2012 stack test with HTF continue to be well within the NYSDEC’s standards, continuing to prove the viable green aspects of our process.”
Interesting - perhaps it's because they are/were never there to sign them. That would suggest that Bogolin hasn't been at the plant although it would be pretty hard to catch when he's only there 3 days a week. The 8K had to be signed and out.
There is a silver lining to him only working 3 days a week - he's out of the way and he won't be able to spoil feedstock and damage processors.
Kool - thanks
I don't expect increases in Q2 revenues due to the spoiled feedstock and subsequent damage to the # 2 at the end of Q1 beginning of Q2. That, no doubt, would cause the company valuable up time, damage repairs and expensive feedstock to replace the spoiled cheaper feedstock.
what does that all mean - not a chartist.
as you well know the company had full intentions to fight the bigus suit but the investors made it a condition of financing to settle asap.
yep - cheaper to pay settlement then defence fees and their time.
Great to have that bogus issue behind us though - way, way back in January.
Awesome news - funny how this company/technology, that's suppose to be a scam, is obtaining all these permits from the DEC.
All those fictitious cardboard cutouts are actually working.
no answers?
I have a question - why is it that there are so many people wanting this technology/company to fail and are so happy when the share price goes down?
what would be his reason for refiling - come to think of it what was the reason for the original suit? Still not clear what his claim and losses are.
Sorry haven't been reading everything here - was there something showing the the costs haven't been reduced?
Since they don't appear to have made any progress on reducing their operating costs, they will need a lot more cash to stay alive.
According to the company the designs behind the third processor have undergone significant upgrades since the previous generation processors, including the addition of a real-time residue removal process.
JBI said that it anticipates that this will increase processor uptime, as measured by the amount of time the processor is at full capacity producing fuel.
The company added that all of the individual subsystems, including burners, kilns, towers, off gas, cooling and flue gas systems have been tested and are operational.
The processor is now undergoing initial plastic feeding, fuel production and process debugging, which JBI said will address any initial problems and any parts that may potentially fail under the full heat of the process and plastic loads.
JBI Finishes 3rd Waste Plastics to Oil Processor in New York
20 June 2013
By Ben Messenger
Managing Editor
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JBI Finishes 3rd Waste Plastics to Oil Processor in New York
Niagara Falls, New York based JBI, (OTCQB: JBII), which specialises in recycling waste plastics into liquid fuels has finished assembly of its third Plastic2Oil (P2O) processor.
According to the company the designs behind the third processor have undergone significant upgrades since the previous generation processors, including the addition of a real-time residue removal process.
JBI said that it anticipates that this will increase processor uptime, as measured by the amount of time the processor is at full capacity producing fuel.
The company added that all of the individual subsystems, including burners, kilns, towers, off gas, cooling and flue gas systems have been tested and are operational.
The processor is now undergoing initial plastic feeding, fuel production and process debugging, which JBI said will address any initial problems and any parts that may potentially fail under the full heat of the process and plastic loads.
“Hands down, we believe that this processor will be recognized as the world’s most technologically advanced and efficient piece of machinery in the emerging plastic to oil market,” asserted John Bordynuik, chief of technology and the company’s founder.
“We have addressed the residue removal challenge head on with the addition of the continuous removal system. In addition to the towers being larger than those of the previous generation processors, we have also used operational data from previous generation processors to make a significant number of upgrades to the rest of this processor,” he added.
Production & revenue
According to the company’s president and chief executive officer, Tony Bogolin the new processor should significantly improve production volumes and stability, and be a stabilising force to help fuel the company’s growth.
“We expect that this processor’s operation will translate directly into increased revenues, improved margins and ongoing growth,” explained Bogolin.
Between 2011 and the end of March this year, JBI said that it has processed approximately 2.8 million pounds (1270 tonnes) of plastic and produced approximately 482,000 gallons (1.8 million litres) of in-spec end user fuels, including diesel, fuel oil #6 and naphtha.
Read More
Waste Plastic to Oil Firm Permitted to Double Capacity in New York
JBI has received a modification to its Solid Waste Management Permit for its Plastic2Oil technology allowing it to double capacity at its New York Facility.
13 MW RDF Pyrolysis & Gasification Plant Starts Up in Avonmouth
New Earth Solutions, has begun producing electricity from Refuse Derived Fuel at its pyrolysis and gasification Advanced Conversion Technology plant in Avonmouth.
GE Collaborates on Waste to Energy Gasification Project in Tennessee
Alternative energy equipment specialist, PHG Energy has collaborated with GE Power & Water on a waste to energy gasification project using GE's Clean Cycle heat-to-power generator.
Funny how there are so many people telling us to sell (several yesterday). For the life of me I don't understand why all the concern, after all it's our investment here.
I guess you weren't aware. They cannot make an entire revolutionary pyrolysis machine with a single part ordered from China.
Much deserved - Chris is doing a great job
sure
Sure that's logical - why would anyone sell now when potentially the best news in the company's history was just announced.
Reality!
Nice temporary sp bump. Of course selling into it would be the only logical choice. Lower highs, lower lows, reality.
awesome - now pet coke can be removed on a continuous bases. The pet coke apparently has a high resale value as well - wonder if they've found a buyer.