Nonmetallics

ITEC Environmental Group, San Francisco, has changed its name to Eco2 Plastics Inc.

Eco2 Plastics says its new name reflects its mission to change the way PET plastic is recycled; emphasizes its patented and patent-pending recycling technology, which uses a biodegradable, organic solvent and liquid CO₂ in the recycling process; and enables manufacturers to leverage a recognizable brand platform that consumers can identify with and look for when purchasing plastic products.

In related news, the company has announced that it has closed its convertible debenture financing round of $10 million, meaning Eco2 has raised a total of $13 million in financing. The financing included an investment by Denver-based Roaring Fork Capital SBIC LP and investments by other high-net-worth investors, some of whom were introduced to the company by KW Securities Corp. of San Bruno, Calif.

Eco2 Plastics says it will use the financing to ramp up its first recycling plant in Northern California to full-scale operation and to begin developing its second plant in Southern California.

Its typical recycling plant is capable of producing 9,000 pounds of clean plastic flake per hour, according to Eco2 Plastics, without using water.

"Eco2’s goal is to establish its clean technology as the standard for all plastics recycling in the United States and ultimately worldwide," Rod Rougelot, CEO of Eco2 Plastics, says. "With this financing, we have a strong balance sheet and an aggressive growth plan that will drive the company through its next stage of growth. We believe that 2007 will be the year that plastic recycling truly exhibits its potential though fiscally and environmentally sound operating practices."

Mondo Polymer Technologies, Reno, Ohio, has been granted a special low-interest loan through the state of Ohio’s 166 Direct Loan Program, which provides loans for land and building acquisitions, expansion or renovation and equipment purchase.

For costs associated with the expansion of its plastic recycling manufacturing facility, the company will receive a $750,000 166 Direct Loan at an interest rate of 1 percent for years one and two and at 4 percent for years three through seven of the seven-year-term loan.

Mondo was established in 1995 and recycles low-end films, including polybags and shrink and stretch wraps. The company proposes to purchase 30 acres of land and to construct an 84,000-square-foot facility that will include expanded manufacturing space and larger, updated offices for administrative functions.

Mondo will also purchase new machinery and equipment, including plastic extruders and mixing and molding machines.

This more than $5 million project is expected to create 30 jobs and retain 44 positions at the project site within the first three years of the project’s initial operation.

Lockport, N.Y.-based RubberForm Recycled Products, has entered into a joint venture with Rubbersidewalks Inc. (RSI), Gardena, Calif., to produce rubberized pavement panels for replacement sidewalk installations.

Rubbersidewalks currently has installations in more than 60 U.S. cities, including Seattle, Chicago and Washington. The company claims its sidewalks, which are made from recycled crumb rubber, are more weather-resistant than concrete sidewalks.

RSI says its agreement with RubberForm will double its production capacity and could reduce shipping costs to clients in the East, Midwest and Southwest by up to 60 percent.

"This is a one-of-a-kind partnership for us," RubberForm President Bill Robbins says. "RSI fits perfectly with our ‘green mandate’ to create new end markets for recycled tire (crumb) rubber in the United States through our facility and our various recycled product lines."

RubberForm has a 16,000-square-foot production facility in Lockport where it manufactures a number of recycled rubber products, including curb stops and sign-post bases.

RubberForm expected to begin production on the rubberized sidewalk panels March 1.

TieTek, a manufacturer of composite crossties and a subsidiary of North American Technologies Group Inc., has announced the opening of a new 50,000-square-foot production plant in Houston.

The new facility complements the company’s Marshall, Texas, plant, adding capacity and product flexibility.

TieTek says it expects the manufacturing plant to increase the production of its innovative composite crossties by 50 percent. The manufacturing flexibility of the new plant allows for production of crossties and switch-ties up to 22 feet long. The new products are required to meet the need for both track maintenance and new construction.

With three production lines, the company says it will consume 500 tons of recycled plastic and rubber from more than 15,000 used tires weekly to produce its railroad ties.

"TieTek is executing its strategy, expanding its flexible manufacturing capacity and strengthening its customer relationships," TieTek CEO Neal Kaufman says. He adds, "The growth in our customers’ businesses is leading to increased demand for high-value, high-performance, environmentally responsible TieTek composite crossties."

More information on TieTek is available at www.tietek.com.