Instead, an uncharacteristically subdued Mr. Bordynuik read from a script, and that script raised issues that came as a surprise to most listeners. After briefly addressing the changes to the company's financial statements, he moved on to P2O.
At the time of the April 24 annual meeting, Mr. Bordynuik had assured those in attendance that the process was working without a hitch: all that was needed for it to become fully operational and begin bringing in revenues was a "simple air permit," which would be granted by the New York State Department of Environmental Conservation (DEC) as soon as a "stack test" for emissions was completed.
In the course of the call, investors learned that oxygen sensors purchased from a "Fortune 500 company" had been failing consistently; the heat generated by the processor melted the membrane that covered them. This was a serious problem, because oxygen aids combustion dramatically. New sensors were finally located and installed. Now the processor can run in "steady state," which is to say continuously, a requirement for the eventual stack test. The stack test, according to Mr. Bordynuik, has been "tentatively scheduled."
The sensors were not the only problem. To create the P2O processor, JBI modified a machine purchased in China to increase the amount of oil recovered from the plastic feedstock. A byproduct of this enhancement was the creation of additional off-gases that must be controlled. Mr. Bordynuik explained that it would be possible, though environmentally undesirable, to flare these gases. His solution was to design a compression system in which the gas could be stored in a stable state.