Friday, February 12, 2010
JBI, Inc. Begins Taking Applications for Plastic2Oil Licenses
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. ("JBI" or the "Company") (OTCBB:
JBII) is pleased to announce that it has started taking
Applications for Joint Venture license partners for
Plastic2Oil.
Pre-Applications can be completed online at this link:
http://www.plastic2oil.com/p2o-preapp/index.html
JBI is already evaluating candidates for licenses, joint
ventures and area development agreements based upon the Company's
predetermined standards and inquiries received within the past 30
days.
Consistent with the agreement for the establishment of an Area
Development Agreement for 45 P2O sites in the State of Florida with
Al Sousa's ASPTO, LLC of Largo, Florida, the JBI team is assisting
in evaluating candidates for 7 Florida sites. JBI is also
evaluating candidates for areas of Virginia, Washington, DC, Ohio,
California, Arizona, Oregon, Georgia and Wisconsin.
The "Green" aspects of the P2O process has created great
interest as it is expected to help solve problems in the area of
plastic waste disposal as well as generate much needed oil for
commercial use. Public-Private partnerships are expected and local,
state and federal credits are available for rapid deployment and
cost effective development.
JBI has sent team members to Washington D.C. to discuss P2O with
several Congressmen. They emphasized not only the green aspects of
the process but the number of jobs that can be created by an
effective launch of P2O sites. It has been estimated that as
many as 20 jobs per site can be created when considering each site
will employ 4-6 full time people, up to 6 part-time and an
estimated 10 derivative jobs will be created by an emphasis on
feedstock acquisition, transportation related jobs, as well as
manufacturing jobs created by the need to build reactors and
acquire and build sites.
An independent lab investigation of JBI's P2O technology
revealed the following information: Samples of fuels were created
from various plastic feedstocks and were tested (ASTM D 5453) and
confirmed a sulphur concentration less than 8.4 ppm (parts per
million). Additionally, the water and sediment tests (ASTM D 1796)
confirm that its fuel contained less than 0.005% water and
sediment. Density tests also placed the fuel in the gasoline
range.
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader
whose purpose is to mine data from JBI's large information archive,
find under-productive entities to inject our superior proprietary
technologies into, and benefit from increased productivity and
profitability, beginning with Plastic2Oil. JBI has also acquired
the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity
Network, WBENC. JAVACO, Inc. currently distributes over 100 lines
of equipment from fiber optic transmitters to RF connectors. To
further enhance business in the United States, new distribution
lines are frequently being added including a line of home theater
and audio video products. Javaco will operate and manage the
Company's Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery
system (liquid cleaner in a water soluble sachet), Pak-It can
deliver glass cleaner, disinfectant, multi-purpose, and many more
cleaning products (42 products currently) shipped in tiny packages
of condensed cleaner (inside a "dry" 1 quart container). This
delivery method is "green" since it's fully biodegradable and saves
thousands of dollars in shipping. The user simply adds water to the
container without measuring or cutting the Pak-It. Large retailers
and many national Building Service Contractors already using the
product have documented significant cost savings from shipping,
training, inventory control and space.
Accordingly, our revenue sources presently include (i) income
from reading archived tapes (including microfiche) from clients
such as NASA, (ii) income from the recently acquired Javaco, Inc.,
(iii) income from the sale of Pak-It products, and a bulk chemical
facility which we realized beginning October 1, 2009, and (iv) from
the anticipated commencement of operations in the first quarter of
2010 with Plastic2Oil, a process and service that converts plastic
to fuel oil. For more information, please see
http://www.jbiglobal.com and
http://www.javacoinc.com and
http://www.pakit.com/.
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 as of 1995. Those statements include statements
regarding the intent, belief or current expectations of JBI, 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: JBI, Inc.
John Bordynuik, President and CEO
john@johnbordynuik.com
Investor Relations
James Parker
jparker@jbiglobal.com
+1 (916) 990-3667