HOUSTON, TX, November 24, 2014; Global Clean Energy, Inc. (OTC PINK: GCEI) will continue to move ahead with its waste to fuels projects despite lower fuel prices. Revenue will be generated from the production and sale of diesel fuel and tire derived carbon black.
The waste to fuels project will deconstruct both plastic and tires in two separate pyrolysis lines to create transportation fuel and carbon char. GCE’s ability to upgrade and refine Pyroil crude from the pyrolysis process on-site to transportation diesel thus taking advantage of the increased price spread from crude to diesel which can add up to $25 per barrel of fuel produced. Refining on-site combined with stable carbon char prices produces positive IRR even with crude oil below $80 per barrel. “The forecast Brent crude oil price averages $83/bbl in 2015” according to the U.S. Energy Information Administration (EIA) November 2014 report.
Tire derived carbon black is an alternative to oil derived carbon black. There is an anticipated shortage of carbon black in the world wide market. Other factors bolstering carbon black prices are EPA efforts to control sulfur oxide and nitrogen oxide emissions from U.S. carbon black facilities. “Recycling tires into carbon char does not share the emission issues and associated costs as oil derived carbon black and therefore any price increase only benefit our projects”said Steven Mann of GCE.
GCE’s executives will be traveling to the Southeast to meet with city managers to finalize their first waste to fuels project. The meeting is the culmination of approvals to house the project on an existing property that includes a suitable building.
Additionally, GCE is still planning on closing its PGM acquisition by the end of 4th quarter fulfilling their goal of a rich portfolio of projects to convert waste to high value products throughout North America.
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