- Oops!Something went wrong.Please try again later.
Whitby, Ontario--(Newsfile Corp. - August 4, 2021) - Environmental Waste International Inc. (TSXV: EWS) (the "Company" or "EWS") announced today that the Ministry of the Environment, Conservation and Parks ("MECP") has approved the Company's proposal to increase the maximum amount of tire waste that can be treated at its Sault Ste. Marie ("SSM") facility to 20 tonnes per day, double the 10 tonnes per day it had previously approved.
The commercialization of the SSM facility being undertaken by EWS' will be increased to 20 tonnes per day, substantially increasing its profit potential.
EWS had successfully run the SSM plant as a demonstration and R&D facility for five years prior to the Company's submission to the MECP. The plant, using the EWS' patented microwave technology, will process end of life tires producing recycled carbon black, oil, steel and syn gas in an environmentally friendly manner. The high-quality carbon black is used as a replacement for virgin carbon black in plastic and rubber products. The oil and steel are utilized as raw feedstock, offsetting the requirement for new virgin materials. The syn gas provides energy for the plant. Tire recycling plants using EWS' technology do not require tipping fees, carbon credits or other government support to generate a compelling ROI.
Bob MacBean, EWS CEO, said, "This approval along with the engineering work and the actual physical work within the plant already completed is showing continued progress of the upgrade process. Our proprietary technology provides a solution to a worldwide environmental waste problem while generating attractive financial returns. We believe the commercialization of our Sault Ste. Marie facility can further solidify EWS' technology as the market-leading solution."
About Environmental Waste International Inc.
Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. The Company has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while recovering highly valuable commodities, including carbon black, oil and steel. Each unit is designed to be environmentally safe, energy efficient, and economically profitable for the operator. For more information, please visit www.ewi.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92025