Replies to post #262610 on Plastic2Oil Inc (PTOI)

[OverDraught]

Let's focus for a moment on the following paragraph form your post:

There's a reason why JBI can't process this waste stream that's not of the right types and quality and not properly sorted to the processor's capabilities, otherwise he would already be doing it

JBI’s entire business plan was based on the premise that very high profit margins would be obtained by pyrolyzing mixed, unwashed, unsorted landfill bound plastic waste. The premise itself was based on a common lab experiment and on Bordynuik’s claim that he had a secret catalyst that would allow him to succeed where many others had failed. All John had to do was prove that his claims were true by scaling up the process and running it profitably in a commercial environment.

Proof of this economic viability would depend on finding adequate quantities of free, suitable feedstock. This feedstock would be fed into processors that would run continuously with very little direct overhead expense.

JBI had at least two solid opportunities to prove the economic viability of the model: RockTenn (RKT) and Madison County. Think of these as experimental trials. Both trials involved large supplies of suitable plastics (HDPE, LDPE and/or PP). In both cases the plastic waste was available free of charge to JBI.

The Madison County trial was the easier of the two, as JBI could use the processors at its existing facility in Niagara Falls and the plastic was pure LDPE in the form of agricultural film. Yes, it was dirty, but the company claimed it could process unwashed plastic. In the end, JBI was unable to turn any profit from the low hanging fruit of Madison County. Why? We are being told that this free feedstock is just too expensive to process.

The RockTenn case was the bigger challenge of the two. The feedstock included mixed, unwashed plastics in the form of raggertail, various waste packaging plastics and something that was to be mined from a monofil site. This waste would be processed at an RKT location where JBI would install its equipment. Tests were performed, equipment was built and a third party engineering consultant was brought in to perform a very brief study on a “pristine” processor. Funding was provided by means of a private placement of shares to a group of investors (mockingly referred to as “whales” by Bordynuik’s own acolytes). Unfortunately, the new plant was never built and there was never any production. JBI has not given its shareholders any explanation as to why this trial was abandoned.

To borrow a term from the biotech space: P2O failed twice to meet its endpoints.

The company, low on cash and without an economically viability process, now appears to be liquidating its assets and heading toward shutdown.

[Street Smarts]

Bullshit. The process works. Tic toc

[korogi]

Really? Private and Municipal MRFs don't sort plastic?

The problem that Madison county would have is the same problem that JBI already has, and that's the unsorted Municipal waste stream that's available to Mr. Zecca.

Did you ask Mr. Zecca if he would buy a JBI processor were there sufficient money available?