InfoSpi Inc. recently announced that it is currently working towards finalizing negotiations to lease a 40,000 square feet warehouse with railroad access in Pompano Beach, Florida. The warehouse will be used to install InfoSpi’s first Tire to Oil (T2O) facility – a milestone in the development of the project.
Chris Hamilton, CEO of InfoSpi, commented, “Our ability to convert over 1,000,000 -used tires in each of our facilities into much needed re-useable commodities is exciting.”
The facility will be capable of processing 30 tons of used tires per day, recovering oil, carbon black and high-grade steel. The company plans to roll out a network of franchised facilities around the country, something that has already been met with significant interest in Florida. InfoSpi expects to make further announcements in the very near future.
Hamilton further explained: “At present, the output of used tires in the United States is over 300 million tires per year; our Scrap Tire Pyrolysis Production Plant utilizes these tires, and is paid to do so (up to $100 per Ton), generating revenue of up to $400 per ton in material recovery and tipping fees.”