Tuesday, June 16, 2009
310 Holdings Inc. Commences Operations With Plastic2Oil Processor
NIAGARA FALLS, Ontario, June 16, 2009 (GLOBE NEWSWIRE) -- 310
Holdings Inc. (OTCBB:
TRTN) announced today that it will commence operations with
Plastic2Oil, a process and service that extracts fuel from
plastic.
John Bordynuik purchased 63% of the issued and outstanding
shares of 310 Holdings on April 24, 2009. Subsequently, Mr.
Bordynuik was appointed President and CEO of the Company. The
revised Company objective is to develop new technologies and to
acquire assets. During the past month, Mr. Bordynuik has injected
personal funds into the company to establish new bank accounts,
inject assets and technology, and ready a team to launch 310
Holdings Inc.'s first intended profit center.
Management is transitioning 310 Holdings Inc. to become a global
technology leader whose purpose is to mine data from the world's
largest information archive, find under-productive entities to
inject our superior proprietary technologies into, and enjoy
increased productivity and profitability, beginning with
Plastic2Oil.
Mr. Bordynuik designed hardware and software to recover
planetary and sensor data from old magnetic media for various
government and institutional archives for more than 20 years. The
Company has access to terabytes of this normalized earth sensor
data, algorithms, a massive research archive, and other related
information. Management believes that most of this information was
inaccessible until recently because the data was stored on old,
previously unreadable computer backup tapes from the 1960s through
2000.
While mining through the research archive, Mr. Bordynuik found
the solution to a process involving breaking down plastic
molecules. This research was conducted when plastic was in its
infancy and oil prices were very low. It appears to our management
that the research was conducted for non-commercial purposes and had
no commercial value at the time. Mr. Bordynuik explored Plastic
recycling when employed at the Ontario, Canada Legislature but
there was no research available at that time to make the conversion
commercially viable. Mr. Bordynuik's research was triggered when
beverage companies began to phase out returnable glass bottles, in
favor of plastic.
Our research has revealed that this process and catalyst is not
presently commercialized. By integrating this technology into a
large batch processor we believe that we can accomplish the
following:
* Approximately one liter of fuel is extracted from a kilogram of
plastic.
* The gas byproduct provides the energy necessary to fuel the
process thereby eliminating energy costs.
* Due to our catalyst and a highly optimized process, fuel can be
extracted in four hours from a large source of raw unwashed,
mixed plastics.
* Raw plastic materials can be acquired in many forms at little or
no cost.
This technology has significant advantages over biodiesel
operations due to biodiesel's high operating costs, the high costs
of raw materials, and the high energy requirements by their
processes.
Alan Barnett, 310's Head Chemist, will oversee the optimization
and deployment of 310's first volume Plastic2Oil processor
anticipated in July, 2009.
"We hit the ground running with this technology and will soon be
well positioned to grow this profit center by clustering
Plastic2Oil processors in communities while enjoying the benefits
of reduced fixed costs through shared resources," said Mr.
Bordynuik, 310 Holdings Inc.'s President and CEO. "I look forward
to reporting our successes in the near future with our Plastic2Oil
processor."
About 310 Holdings Inc.
Mr. Bordynuik purchased 63% of 310 Holdings Inc.'s common stock
on April 24, 2009. The company will take advantage of these
economically turbulent times by acquiring highly leveraged assets
for pennies on the dollar. The company will also build profit
centers to exploit solutions solved long ago, but lost on old
computer tape backups that could not be commercialized then due to
technological limitations.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees and of 1995. Those statements include statements
regarding the intent, belief or current expectations of 310
Holdings Inc., and members of its management as well as the
assumptions on which such statements are based. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results.
CONTACT: 310 Holdings Inc.
John Bordynuik
289-668-7222