ONLY KLINGONS USE KLYSTRONS FOR TIRE RECYCLING:
Missouri Program Financing Tire Recycling Operation
11/24/2008
The Missouri New Markets Development program has released a total of $21.9 million in financing to assist two companies involved in the environmental industry in the state.
The two companies are Carbolytic Materials Co., Maryville; and Producers' Choice Soy Energy, LLC, Moberly. The financing comes from Advantage Capital Partners, and was made possible through state and federal tax programs designed to stimulate growth in underserved communities.
Carbolytic Materials Co., the first company to successfully commercialize a carbon black alternative suitable for industrial use from scrap tires, has received $12.4 million of state and federal New Markets funding, as part of a total $17.5 million project financing. The company uses its licensed technology to create ApexCM, a lower cost alternative to carbon black that is extracted from existing rubber products.
Carbolytic will use the funds to build its Maryville manufacturing facility where it will process more than 15,000 tons of used tires annually to create Apex CM, which can be used for hoses, gaskets, belts, roofing material, plastic piping, sheeting plastic and more. The facility will create at least 21 new permanent jobs, with salaries that are above county average, and an additional 25 construction jobs. Carbolytic recently began construction of the new facility and celebrated with a groundbreaking event on Thursday, November 6. The manufacturing plant is expected to be completed by June 2009.
The Missouri's New Markets Development program also assisted in providing a $9.5 million construction loan to Producers' Choice Soy Energy, LLC as part of a $17 million total alternative energy project. The funding from Advantage Capital will be used to support the construction and operational needs of a soybean processing plant and a biodiesel production facility in Moberly, Mo.
Monday, November 24, 2008