Novo Energies Corp., www.novoenergies.com – the alternative energy company executing a strategy focused on developing recycling centers (plastics/tires) which utilize advanced methods to yield energy and other commodities, announced entry today into a Technology Collaboration Agreement with ASME-certified welding and vessel fabricator Precision Pipe and Vessel, LLC.
The Agreement will also allow for the subsequent acquisition of a worldwide exclusive license to Precision’s proprietary gasification technology.
Able to convert plastic and tire waste into energy, synthetic gases and other viable commodities like recovered steel, the novel, Precision-developed gasification technology will be employed to augment Precision’s Colorado pilot plant while NVNC seeks out multiple US facilities and oversees global roll-out of the technology via its partner, Novo Energies International, Ltd.
Chairman and CEO of NVNC, Antonio Treminio, characterized the agreement as a major milestone for the company and its shareholders.
Treminio noted the exhaustive evaluation process undertaken during the last 12 months, where the most efficient and economical advancements in plastic and tire reconversion technologies were analyzed. These included pyrolysis, which uses gasification, and microwaves, which culminated in the selection of the Precision technology featuring:
• Efficient conversion of tires and plastic feedstock to energy
• Zero toxic emissions for a “green energy” technology profile
• Syngas (Synthesis gas) generation which meets strict quality and consistency standards
• Highest carbon conversion ratio of any known gasification system
• Self-sustaining because it can use its own syngas for power
• Categorically lower production costs overall
Treminio projects that the collaboration will result in a first-of-its-kind commercially and economically viable tire-to-energy facility in North America, not only a milestone for the Company and industry but for environmental progressives the world over.
President of Precision, Ken Klepper, commenting on how special the pilot plant was, noted that the effort that has gone into developing this one-of-a-kind facility has led to a globally unique recycling center capable of taking tire and plastic feedstock and generating a high-quality syngas with zero emissions.
Klepper also pointed to the many years of experience Precision has in designing, building and operating all manner of gasification technologies, and stated quite clearly that this Precision-developed process is a truly “disruptive, clean, and renewable” energy technology breakthrough.
Upcoming plans by NVNC to demo the pilot plant for government officials, institutions, the investment community and utility companies will coincide with output augmentation at the site for the purposes of harnessing the maximum commercial productivity possible.
The Company will put substantial effort into this showcase as it is extremely vital to the commercialization goals set for the technology, and intends to present a unique solution, unavailable elsewhere, which fells two birds with one stone, allowing for highly localized waste reduction and energy creation.