Dive Summary:
- Polyflow, LLC and P/E firm Ambassador Enterprises have formed a new company, RES Polyflow, to commercialize Polyflow's energy recovery technology.
- The technology and equipment converts converts mixed and unwashed plastic waste, tires and carpet into energy products including transportation fuels, octane enhancers and chemical intermediates used in the production of new plastic and rubber.
- The company claims that its technology reduces greenhouse gas emissions 70% verses incineration WTE
From the press release:
Akron, Ohio based Polyflow LLC and private equity firm Ambassador Enterprises of Ft. Wayne Indiana announced today that they have completed an agreement to form Renewable Energy Solutions by Polyflow to commercialize Polyflow’s award winning energy recovery equipment and technology. The new firm will be known as RES Polyflow and will remain headquartered in Akron with current Polyflow CEO Jay Schabel leading the effort. Joining Schabel on the corporate team are Michael Dungan who will serve as Director of Sales and Marketing, Charles Grispin as the Director of Technology and Richard Schwarz PhD as Technical Advisor. Financial terms were not disclosed.
Jay Schabel, RES Polyflow’s Chief Executive Officer, said, “Our goal is to be the worldwide standard for profitable energy recovery from plastic waste. With the addition of Ambassador Enterprises as our strategic partner, RES Polyflow will produce and demonstrate our continuous feed waste to energy recovery system. This project was supported in part by the Ohio Third Frontier Advanced Energy Program with a commercialization grant secured in 2011.”
Ambassador Enterprises representative Tom Stone remarks that the time for scaling up the RES technology is at hand. “After a thorough review of waste to energy technologies we are convinced that the Polyflow process offers the most economically feasible and technically robust solution being commercialized. We are excited to be a part of this business opportunity that has the capability to impact the world in a positive way.”
The patented process and proprietary equipment developed by RES Polyflow converts mixed and unwashed plastic waste, tires and carpet into a spectrum of energy products ranging from transportation fuels, octane enhancers and chemical intermediates used in the production of new plastic and rubber. RES Polyflow’s efforts are focused on establishing independently operated energy recovery facilities as well as selling licensed equipment to energy park developers, recyclers, landfill operators and organizations managing large polymer waste streams. In addition to implementing the technology in North America, opportunities to export RES Polyflow’s locally produced process equipment to Europe, China, India and Australia are being explored with strategic partners.
