JBI, Inc. (JBII) is “One to Watch”

By @ibtimes on

Headquartered in Thorold, Ontario, JBI, Inc. is a domestic alternative oil and gas company. The company developed a process that converts waste plastic into fuel (Plastic2Oil), without the need for further refinement. They scaled a 1kg process to a 20MT commercial processor in less than one year.

JBI, Inc. was founded out of the innovation of the Company’s founder, Mr. John Bordynuik. His data recovery and restoration process has provided the Company access to valuable engineering discoveries dating back to the 1950′s. Applying this process to his personal data library, Mr. Bordynuik first recovered and then modified the formula for the catalyst that renders JBI’s Plastic2Oil process efficient and economically viable. In Q1 2011, he designed quality controls, fuel blending, and automatic additive injection so that the fuel produced is a final product, unlike crude oil.

JBI, Inc.’s cutting-edge Plastic2Oil™ process converts mixed waste plastic into separated diesel, heating oil, and light naphtha fuels. Low sulphur heating oil is diesel fuel without transport additives. Unlike existing plastic-to-oil operations, the Company’s process accepts raw, unwashed, mixed plastics. JBI achieves nearly 90 percent conversion of waste plastic into clean fuel, with approximately 8 percent off-gas captured and compressed. Approximately one liter of oil undergoes extraction from every kilogram of plastic, and continuous feeding of plastic optimizes the production output.

Major labs have validated JBI, Inc.’s technology. These include IsleChem (process engineering); Conestoga-Rovers and Associates (stack test); Intertek, PetroLabs, Alberta Resource Council and Southwest Research Institute (fuel testing), along with a rigorous permit process by the NYSDEC (New York State). The Company’s emissions are less than a natural gas furnace and the process releases more than 14 percent oxygen back into the air.

On Monday, JBI, Inc. announced that Oxy Vinyl Canada, a wholly owned subsidiary of Occidental Petroleum, agreed to purchase JBI’s low sulphur heating oil for $109.80 per barrel. Under the terms of the agreement, the first order of approximately 214 barrels of low sulphur heating oil is expected to be delivered this week. Low sulphur heating oil is a product of JBI’s Plastic2Oil™ process. The agreement with Oxy Vinyl marks JBI, Inc.’s first alternative fuel sale.

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