Plastic2Oil Inc (PTOI)

[techisbest]

dreaminbig: Let me do the simple arithmetic for you...

You need to add up the information provided in the December 15 PR with the more recent information.

http://www.plastic2oil.com/news/2010-press-releases/20101215-p2o-commences-operation.aspx

Following receipt of the formal emission stack test report in early October 2010, JBI began working with the DEC to complete and submit an application for an Air State Facility permit, which was finalized and submitted in November 2010. On December 2, 2010, JBI was provided with a working copy Draft Air Permit. In addition to the air permit requirement, the Albany division of the DEC advised JBI that they would be required to submit a more specific Beneficial Use Determination (BUD), which JBI successfully completed and submitted to the DEC on October 22, 2010. In a letter mailed on December 1, 2010, JBI was advised by the DEC that a solid waste permit would be required.

The Consent Order was offered by the DEC during a meeting on Friday December 3, 2010, where representatives from the DEC, JBI and State Senator George Maziarz convened to discuss permitting of the Plastic2Oil process. It was relayed to JBI by DEC Albany that a solid waste permit was required and would allow JBI's business to expand to include feedstock not covered within the limited scope of a BUD. A Consent Order was executed yesterday. The Consent Order allows JBI to commercially operate the Plastic2Oil factory in Niagara Falls. This Consent Order bridges the time between now and when JBI acquires an Air State Facility permit and a Part 360 Solid Waste permit.

There were three separate permits involved in getting JBII completely approved to run its operation. They received the draft air permit. The air permit was a forgone conclusion following JBII's receipt of the stack test report from CRA back in September.

http://www.plastic2oil.com/news/2010-press-releases/20100917-stack-test-results.aspx

The Company is pleased with these results, as they reaffirm Islechem's previous findings that the operation of the P2O processor is a clean "green" process. CRA's results indicate that the processor is emitting 14.87% oxygen to the stack, while only emitting 3.16 ppm (parts per million) of carbon monoxide, 0.81 lb/hr (86.4 ppm) of NOx, SO2 and THC were below 1 ppm, particulates tested below 0.02 lb/hr. In other words, the process puts a high percentage of oxygen back into the air while emitting very little, if any, toxic substances during the conversion of waste plastic into usable hydrocarbon fuels.

The stack test confirmed that the P2O processor emissions are below maximum emissions allowed under a NYDEC simple air permit. Because of these results, the Company believes it will not need to construct any filters, oxidizers or scrubbers for the stack, which is directly connected to the processor through a condenser to cool the air.

After the stack test, the P2O processor was shutdown to gather residue samples from within the reactor for testing. The residue was tested and found to be well below the TCLP thresholds for disposal in landfill. The residue from a P2O processor can be shipped to landfill and is not considered a hazardous waste.

JBII was required to submit an application for a BUD and for a Solid Waste Permit. They did both. We have been waiting for the approval of the Solid Waste Permit to wrap up the entire process.

The comment period is for that Solid Waste Permit. Once that period passes everything will be official.

I don't know if having only the Consent Order rather than the official permits has been a factor in JBII closing its deals, but it is likely.

It would be nice if the floodgates open once the permits are in hand. It would be great to have that happen prior to the AGM.