August 16, 2007
Dear friends of Tirex,
Tirex and Simpro management persist in our quest to fund our first commercial TCS Tire Recycling Facility.
As you see everyday in the media the push for the "greening of a geo-political world" is evolving and getting more financial intention than ever before.
Most scrap tires are burned and used as fuel which is not environmentally friendly. With the projected cost of virgin rubber rapidly increasing and supply not being able to meet increasing demand, and with the price of oil (it takes several gallons of oil to make a tire) at all time highs, both with unstable futures, the value of recycled rubber will climb.
Therefore, state and provincial governments everywhere are supporting and subsidizing tire recycling technologies that produce a higher value recycled rubber, such as our TCS Technology. We do not, however, depend on government subsidies to survive as our direct competition does. In fact, our cost to operate is 1/3 less than our competition and we have an Internal Rate of Return at a conservative 27%. Subsidies only add to our bottom line.
Our TCS Technology is very attractive economically and environmentally friendly and the time to exploit it is now.
Besides the potential TCS Sales we're working on now, we're approaching Venture Capital Companies for the first time, which is where we have found our best chance to finance our first TCS Facility. VC companies, as you may know, specialize in risk capital and will invest in new technologies and start ups. In fact, the recent responses we've received from VC's show the best understanding and fit for what we need. For example, private investment managers from an international investment brokerage house have offered to find the funding, inside or out of their firm, for our first TCS Facility.
A profile of TCS Recycling, Inc. (TCSR) New York, a start up company, utilizing our TCS Technology and contracted as a turn key TCS tire recycling facility by our licensed manufacturer, Simpro S.p.A., was recently posted on FundingPost.com. TCSR's profile was posted to attract the investor(s) needed to fund the $9 million project. Tirex is prepared to offer an equity position in Tirex to the investor(s).
FundingPost.com has 6,000 Venture Capital and Angel investors/subscribers that will have access to the TCSR profile.
The TCS Project Manager at our manufacturing/marketing partner, Simpro, recently said to me, "John, there is no longer a question of our technology, it's the best in the industry." The Middle East Project, with a new "committed" investor, and the Russian/Ukraine and Indonesian markets they have been developing simultaneously through a waste to energy technology company, "are meeting to plan the final stages" of contracts.
"TCS Recycling, Inc. New York will become the TCS Showcase to the recycling industry and serve as a template for other TCS Facilities while the evolution of the 'greening' of geo/eco-political, business and environmental opportunities expand exponentially through out the world."
John L. Threshie Jr.
President |
