This is all just my opinion, a message board poster like everyone else:
But just like the momo days of internet, it seems to me like JBII is one of those companies that did something else (nonpublic in this case) then changed its idea to capitalize on momentum of a hot sector.
The probs with JBII IMO have nothing to do with auditors, OS, AS etc. It doesn't matter that they have a 99% efficiency imO either. Lots of companies have purportedly already reached that 90%+ efficiency point (some claiming 99% with pretty much carbon copy similarities no pun intended- 85% liquid hydrocarbons and 15% gas).
The flaw in plastic to oil and likely (IMO) JBII's 'secret catalyst' thingy (others have come up with the secret catalyst idea already BTW) is that it does not address the reason these processes are not economically viable (without subsidy). It is the 'stuff' they put in plastics OUTSIDE oil that makes the P 2 oil reversion a mess IMO. Chlorine is a big one as far as other 'stuff'.
Chlorine is a halogen so it is very reactive. It exists as a gas at normal temp and pressure. Of course chlorine gas was a weapon in WWI I think when the Germans used it so it is highly toxic in gas form.
As I recall from chemistry chlorine's outer valence shell (the thingy with electrons 'orbiting' around the nucleus) has 5 electrons so wants that 6th one to be stable. So chlorine is wanting to bond to something with an extra electron in the outer shell. Hydrogen only has one electron, so in the presence of hydrogen it is quite easy for Cl and H to strongly bond together and form hydrochloric acid. Obviously acids are highly corrosive. You can use lime to try and mitigate the acidity but it is tricky trying to apply all that into a system such as what these Plastic to energy companies are doing.
If JBII comes out with their 3rd party validation and can show no chlorine in their liquid and gas fuel then I'll be taking a serious look at it. But IMO they will have chlorine but won't want investors to know about it. Why? If the fuel is then used, the chlorine is likely to be released into the atmosphere.
What does chlorine in the atmosphere do even if it is highly dispersed so not immediatley toxic to an organism breathing in the air? Acid rain. CFCs. Formation of HCL (hydrochloric) or maybe hydrochlorous acid. In the presense of water vapor, remember Cl wants to bond with hydrogen readily. So you get lots of potential acid formation.
Of ocurse HCL can be marketed and sold but separating and collecting the chlorine from the hydrocarbons produced would IMO be an expensive proposition thus another failed P2O idea.
What I find odd is the comapny gives the reason for their potential success as being because they are more efficient than others. Most of the plastic to energy companies I looked into say almost the same thing as JBII (90%+ efficiency, some 99%). So the competition is not anywhere near the 45% efficiency JBII cited in most cases. They are mostly close to 99% efficiency.
Yet none of them have become major economical successes! Why? And Why would JBII suddenly break this trend of companies purporting to do nearly the same thing and fail economically?
Get back to me when they show they have no chlorine in their fuel products.
Putting it onto tankers is a way to get around some air emission regulation since they are not well regulated (tankers are mostly watched for sulfur and nitrogen emissions) but it will catch up to them eventually IMO. If the EPA starts doing what they say they will with tanker emissions (montioring) and fuel with chlorine gets used on some of those monitored tankers, IMO you would quickly see the EPA sweep in to stop the fuel from being used further. Why? Again, acid rain, CFCs, etc...
I could be wrong, it isj ust my opinion. But I have not seen anyone give good reason why other plastic to oil ventures have struggled even when they purport 99% efficiency.
When I have time, I might be able to dsicuss it more but for now don't have time for it since my money aint in it :-) Good luck.
Here are a couple links (none of thses companies 'made' it big IMO financially):
Here's one cutout part of the link above that IMO shows the same hype that other P2O companies are trying to promote even talking about 100%-
"The Zadgaonkars' Unique Waste Plastic Management & Research Company plant devours a whole range of plastic waste -- from discarded carry bags to mineral water bottles and broken buckets to PVC pipes, polyethylene eriophthalate (PET) bottles, even ABS (acrylonitrile butadine sterine) plastic material used in the making of computer monitors and TV sets, keyboards et al -- and converts it 100 percent into liquid hydrocarbon fuels (85 percent) and gases (15 percent).
The Indian Oil Corporation (IOC) has recommended use of the Zadgaonkar liquid fuels in running agriculture pumps and boilers, as marine fuel and input feed for petro refineries, and the gaseous fuels as an in-house and industrial substitute for LPG.
The world's first and so far the only continuous process industrial plant in Butibori has caught the eye of the scientific community and begun to beckon entrepreneurs to approach its close-fisted promoter with buy-up or tie-up offers."
Notice hype? Keep reading thru the plastic2petrol website, even CNN did a piece about her 'secret chemical' catalyst. This person even got IOC and India Govt to look into it (plastic2petrol- LOL even that sounds familiar doesn't it?). But the govt and IOC walked away after giving her a little seed money to get a processor up and running. The MOU never deveolped.
Why on earth would a major oil company and a govt walk away from such an earth-friendly 'discovery'? Yep, IMO economic viability. And why wouldn't it owrk? We're talking 100% efficiency! 85%/15% liquid/gas! Self-feeding for energy! Produing fuel at a fraction of cost at the pump!
This Aussie one is funny. First the guy blasts the govt in first link then asks for money from same govt to stay afloat LOL (IMO again- all this stuff is IMO only)
None of these companies IMO successfully and efficiently (in economic sense) address removing the contaminants like chlorine from their products. So I'm still waiting. PET and PVC plastic BTW are the harder to efficiently revert to liquid fuel plastics from what I can tell.
OK enough already from me. I have a chemistry minor so have a layman's idea od things but not much more than what people could learn lookingthru the internet.
I'm done for now after this sloppy megapost LOL. Time to have breakfast and take care of chores.
PS- longs on JBII could still win out if the technology is sold before the potential bad stuff catches up with the process/catalyst IMO. But I think there is a clock ticking personally.
Remember, lots of millionaires were made almost overnight when internet companies bleeding money were sold for tons of money...
Then again, Buffett never got much involved with that craze.
what IS with jbii?? they only have 140,000 income 2 months ago? but the administrative costs (IE: ceo pay?) has gone up 2 million? the financials look whacky.
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