So here it is, mid-February 2017. So as of September, VADXX CEO says the Akron plant will be at 100% in the first quarter [of 2017]. This is a delay from previously saying "the first of the year [2017]."
"During the trial period, Garrett says the plant ran at 30 percent capacity successfully and made synthetic crude oil, exceeding required specs. More commission runs will take place in fall 2016. With some further minor additions, Garrett says the facility will run at full 25,000-ton-per-year capacity in the first quarter of 2017."
magazine.rewmag.com
So the current delay is between one day and 90 days.
Again, VADXX undoubtedly already knows that the process isn't commercially viable but they aren't saying a word about that. As far as anyone knows, everything is going well at VADXX. Why would anyone, other than I, even suspect that VADXX is dead in the water??
A little rough stoichiometry and a little research into the price of scrap plastic shows that even if VADXX produces salable diesel, the process still wouldn't be commercially viable. Liberation Capital simply threw away investors' money. The term, "waste plastic" is used when throwing away a milk jug and has no meaning otherwise. Usable plastic in bulk is no longer, "waste." The term is used to trick unwary investors into thinking that vast amounts of usable scrap plastic are available at virtually no cost.
VADXX now has numerous options for excuses to keep the plastic-to-fuel story alive and it will be interesting to see what new excuse they give after the end of this quarter. They could simply admit that the $20M plant didn't pan out and that the $20 million investment is lost...but I'm guessing that won't be the path they take. |
