NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB: JBII) is pleased to announce that on February 12, 2010, AS PTO, LLC, which entered into an Area Development Agreement (ADA) with JBI, Inc. for 45 P2O sites, has entered into a Joint Venture and Licensing Agreement with ES Resources, LLC for a P2O processing site to be located in Clearwater, Florida.
ES Resources has made a reservation deposit in the amount of $100,000.00 to confirm its interest in purchasing a License for the marketing and exploitation of the Plastic2Oil technology from AS PTO, LLC on behalf of JBI. The announcement of this first P2O processing site aligns with AS PTO's strategy of installing P2O sites throughout Florida with an initial concentration on large metropolitan areas. "
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB: JBII) is pleased to announce that on February 12, 2010, Ohio P2O, LLC has made a reservation deposit to confirm its interest in purchasing a License for the marketing and exploitation of the Plastic2Oil technology from ASPTO, LLC on behalf of JBI. "
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB: JBII) is pleased to announce that on February 12, 2010, AS PTO, LLC, the Florida Area Developer with JBI, Inc., has received a reservation deposit from Tampa PTO, LLC for a potential P2O processing site to be located in Tampa, Florida.
Tampa PTO, LLC has made a reservation deposit to confirm its interest in purchasing a License for the marketing and exploitation of the Plastic2Oil technology from AS PTO, LLC on behalf of JBI. The announcement of this P2O processing site aligns with AS PTO, LLC's strategy of installing P2O sites throughout Florida with an initial concentration on large metropolitan areas. "
Schedule of events June - September 2009: Move assets into 310 Holdings Inc. (June) Perfect our prototype Plastic2Oil processing unit (July) Complete the purchase of JavaCo, Inc. (August) Complete the purchase of chemical manufacturing company (September)
December 2009: Deploy large processor in Niagara Falls, NY Continue to move forward with our business model
Advantages of our Business Model Standardized installation, documentation, and maintenance. Shared fixed costs amongst a cluster of processors. Realized economies of scale and scope. Reduced energy costs to transport raw material to many local sites as opposed to a single large facility. Predictable revenues and stable growth. Financed growth by a variety of creative financing techniques such as joint ventures and licensing agreements. Growth and business stability through the strategic placement of processors in industrial areas with a high volume of recycling activity and large population base such as Philadelphia, Tampa Bay and Miami based on exclusive operating agreements
Advantages of our Plastic2Oil Machines Low cost, our machines cost under $200,000 each compared to 3,000,000 - $5,000,000 per machine of other competitors Extremely low energy consumption. Unit operates off of its own off-gases created by the plastic cracking process Our catalyst (trade secret) greatly decreases conversion time and increases yield
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