ITEC TO RECEIVE $2 MILLION LOAN
Itec Environmental Group Inc., Riverbank, Calif., has received confirmation that a $2 million low-interest loan from the California Integrated Waste Management Board (CIWMB) was placed in escrow with First American Title of California in connection with the Recycle Market Development Zone Loan (RMDZ) Program. The loan was approved by the CIWMB in August of 2004. Release of the $2 million to Itec is conditional upon Itec’s raising $2 million in matching funds.
Proceeds from the loan will be used to complete production of Itec’s first Eco2 Environmental System plant. The Eco2 system uses a patent-pending process to clean post-consumer PET and HDPE plastics.
Itec expects to begin operating its first Eco2 Environmental System plant within the first quarter of 2006. The company is working with its investment bank Brean Murray & Co. Inc. to raise $7.5 million to initiate full operations and to match the CIWMB loan.
Gary De Laurentiis, Itec chairman and CEO, says, "With the transfer of the $2 million loan funds into escrow, we believe we are one step closer to accomplishing our goals and implementing the first phase of our business plan."
PLASTICON SECURES MORE SUPPLY SOURCES
Plasticon International Inc. has contracted with five new sources of recycled plastic resins, which will provide enough recycled plastic resins to fulfill its projected orders for the next 10 years, the company says.
Jim Turek, Plasticon president and CEO, says the new contracts allow the company to focus on its sales and marketing efforts. "We can also assure our distributor, which is the largest building materials distribution company in the United States, that we have enough raw materials to fulfill all of their orders," he adds.
Plasticon, Lexington, Ky., designs, makes and distributes concrete accessories, transportation signage, plastic lumber and office supplies.
WAL-MART SERVES UP PLASTIC SANDWICH
Retailing giant Wal-Mart, in partnership with Rocky Mountain Recycling, is stepping up a pilot program that the companies hope will significantly boost plastic recycling.
The two companies have been using the plastic sandwich bale, a process that Wal-Mart says will revolutionize retailers’ thoughts on recycling and waste management.
Dick Pastor, Wal-Mart’s director of environmental management, says, "In just 11 months, in just 10 percent of our stores, we’ve recycled enough plastic to fill a football stadium 38 feet deep."
He adds that the program could become Wal-Mart’s largest recycling effort to date. "We are so happy with this program that we’re adding another 267 stores to the program this fall."
Using the plastic sandwich bale program, Wal-Mart and Sam’s Club associates place 10 to 20 inches of cardboard at the bottom of large trash compactors that already exist at store locations. Shrink wrap, plastic bags, apparel bags and other loose plastic is then loaded in to the compactor and another section of cardboard is placed on top. The compactor then presses the bale into a "sandwich" that contains 9 to 18 inches of recyclable plastic in the middle.
The company says it has recycled more than 1,100 tons of plastic so far in 2005.
Last September the company launched the plastic sandwich bale as a pilot program in 326 Wal-Mart and Sam’s Clubs stores.
Rocky Mountain Recycling Sales Manager Jeff Ashby says the process solves a long-standing barrier to plastic recycling. "The compressed plastic is easier and more efficient to transport to recycling centers," he adds.
Wal-Mart says the benefits of the plastic sandwich bale process include using existing balers within the stores; eliminating one out of five waste compactor hauls per store; and allowing the baled plastic to be transported via flatbed trailer.
WRAP GRANTS BOOST GLASS RECYCLING
The Waste & Resources Action Programme (WRAP) and the Scottish Executive are awarding 1.2 million pounds (about U.S. $2 million) to trial projects that aim to develop end markets for recycled glass.
The trials are designed to further the industry’s understanding of the performance and operational benefits of using recycled glass.
The trial projects include:
• Grit blasting within the marine sector, Shipbuilders & Shiprepairers Association;
• Water filtration in the food and chemicals processing industry, Aqua Enviro Ltd.;
• Artificial sports turf and top dressing for winter games pitches, Sports Turf Research Institution;
• Mortars, adhesives and cement repair products, Instarmac Ltd.
Events will be held at the end of the trials to disseminate the key findings and to promote the benefits to the relevant industries.
Explore the September 2005 Issue
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