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Technology Stocks : Plastic waste remedies -- Ignore unavailable to you. Want to Upgrade?

To: donpat who wrote (38)	3/21/2018 3:08:34 PM
From: donpat	Respond to of 82

RES Polyflow Announces Renewable Fuel Agreement with BP Posted by info on Mar 20, 2018 in Energy Recovery, Project Spotlight, Recycling Plastic, The RES Polyflow Story \| No Comments FOR IMMEDIATE RELEASE RES Polyflow Announces Renewable Fuel Agreement with BP Chagrin Falls, Ohio – March 20, 2018 – RES Polyflow, an Ohio based manufacturer of Plastics-To-Fuel energy recovery systems announced today that it has entered into an offtake agreement with BP for the fuels produced by its first commercial production facility. Located in Ashley, Indiana., the RES Polyflow plant will convert 100,000 tons of plastic waste into 16 million gallons of ultra-low sulfur diesel fuel and naphtha blend stocks per year. The project is expected to begin processing in 2019. The facility will also produce commercial grade waxes for sale to the industrial wax market. Under the terms of the agreement, BP will purchase all of the diesel fuel and naphtha blend stocks produced by the RES Polyflow facility for distribution in the regional petroleum market. “As a global energy business, BP is focused on the dual challenge of meeting society’s needs for more energy, while at the same time working to reduce carbon emissions,” said Carey Mendes, head of BP’s Global Oil Americas marketing and trading business in Chicago. “Agreements like this one highlight our commitment to helping drive the transition to a low-carbon future, which is embedded in the core of our business strategy.” RES Polyflow CEO Jay Schabel commented that the offtake relationship with BP demonstrates that the company’s proprietary Plastics-To-Fuel process delivers a viable business model for energy recovery in North America. “We provide communities with an alternative to traditional methods of plastic disposal that complement current recycling practices. In addition to creating permanent manufacturing jobs, a reduced carbon footprint associated with the production of high demand petroleum products can be realized for the first time at commercial scale.” The RES Polyflow process converts a wide mix of co-mingled plastic waste into a consistent hydrocarbon liquid on a continuous and highly efficient basis. Once online, the Ashley, Ind. facility is expected to create a new market for the growing stream of complex plastic film, flexible packaging and other low value, non-recycled plastic waste that typically ends up going to landfills or fouling local waterways. The company plans additional Plastics-To-Fuel facilities for surrounding Midwestern states. The new locations will be anchored by the Indiana facility as the primary post-processing site for the BP offtake agreement. A total of 136 full time manufacturing jobs will be created in NE Indiana when all phases of the project are implemented. # # # About RES Polyflow RES Polyflow designs, manufactures and implements commercial scale energy recovery systems that offer a responsible end of life solution for non-recycled waste plastic. The company’s patented process complements current recycling efforts by converting low value co-mingled plastic waste such as film and flexible packaging into marketable petroleum blend stocks and wax on a continuous and profitable basis. RES Polyflow is a founding member of the Plastics-To-Fuel and Petrochemistry Alliance based in Washington DC. To learn more about RES Polyflow’s innovative process, visit www.respolyflow.com. About BP BP is a global producer of oil and gas with operations in over 70 countries. Over the past 10 years, BP has invested $90 billion in the U.S. — more than any other energy company. BP employs about 14,000 people across the U.S. and supports more than 106,000 additional jobs through all its business activities. For more information on BP in the U.S., visit www.bp.com/us. Contact Jay Schabel (CEO) RES Polyflow LLC jay.schabel@respolyflow.com (330) 253-5912 ext 1 respolyflow.com