TGI Solar Power Group (TSPG), provider of solar and other clean technology products and solutions, announced today that has signed a Joint Venture agreement with Faith Group Company to develop plastic sorting facilities worldwide. Both parties will contribute toward funding of the joint venture. TGI plans to issue short-term notes to cover the initial cost involved with this transaction.
The JV will be called Nanoregen, Inc., and will be jointly owned by the two companies. "We are very excited to join forces with the global leader of the plastics recycling business.” said Henry Val, CEO of TGI Solar.
"We are very pleased to partner with TGI. Our plan calls for the initial facility to be located in the Northeast United States. Each subsequent facility will be next to a large metropolitan area that generates significant amounts of recyclable materials," said Liu Yong, CEO of Faith Group Company.
About FAITH GROUP COMPANY Inc.: Faith Group Company (FGC) was incorporated in New Jersey, USA in 1993. The company’s main businesses include domestic and international general trading of PET materials, post-industrial scraps, post-consumer scraps and the relevant processing. FGC handles PETG, PEN, PCTA, PCTG, PTT, HDPE, LDPE, PP, ABS, NYLON as well as special plastics, and distributes plastics recycling equipment. FGC is the largest PET recycling company in the world and has built up the largest global PET recycling, managing and marketing network. FGC has facilities in USA, UK, Netherlands, Mexico, Argentina, Egypt and Hong Kong.
About TGI SOLAR POWER GROUP INC. TGI Solar (TSPG) is a provider of solar and other alternative energy products and solutions. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to clients on a worldwide basis and currently maintains JVs in Hong Kong and subsidiary in Italy with solar installation, integration and energy consulting firms.
