NIAGARA FALLS, N.Y., May 5, 2015 (GLOBE NEWSWIRE) --
To our valued Plastic2Oil, Inc. (PTOI)
stockholders:
I am pleased to provide you with this update regarding the
business of Plastic2Oil, Inc. (P2O). As you know, on January 2,
2015, we announced that we had contracted to sell up to six
processors to EcoNavigation LLC upon the completion of a pilot
study. Shortly afterward, EcoNavigation presented P2O with several
promising opportunities and currently P2O and EcoNavigation are
involved in multiple, complex negotiations for the potential sale
and implementation of P2O processors with several end-users and
organizations.
P2O and EcoNavigation began discussions with a firm in the
southern U.S. regarding a development project that has the
potential for the deployment of more than 30 processors over the
proposed project development period. This project has required
significant attention from the P2O, EcoNavigation, and O'Brien
& Gere project opportunity team. Assuming P2O consummates the
deal, the anticipated testing requirements will be a three to five
day run of the firm's specific feedstock. If testing is successful,
we are expecting an initial purchase order for 12 processors for
phase one of the project. In light of this new opportunity
presented by EcoNavigation and the expanded scope of our
relationship, we have agreed to extend our agreement with
EcoNavigation for an additional ninety days under our current
terms.
In addition to the above, a third opportunity for a three
processor site, located in the northern states, is being worked on
by the above mentioned project opportunity team, and is very close
to completion. EcoNavigation continues final negotiations and work
on structuring and financing.
Although there can be no assurance that our current negotiations
will result in definitive agreements or successful sales, I am
personally optimistic and so I wanted to share this information
with you. I encourage all investors to review P2O's periodic
filings made with the Securities and Exchange Commission in order
to keep apprised of any further developments.
Lastly, I am also pleased to inform you that P2O intends to
engage O'Brien & Gere (www.OBG.com), one of the leading EPC
consulting firms, for these upcoming opportunities. O'Brien
& Gere's Advanced Manufacturing business should provide us the
capability to scale-up our technology and integrate it into a fully
operational manufacturing facility. In addition, its full-service
engineering capabilities, project management and control system
integration round out our capabilities to deliver efficient and
cost-effective solutions to our customers.
I want to offer my personal thanks for the regular and extremely
valuable contributions made by our employees, management, Board of
Directors and investors. I also look forward to seeing you and
sharing with you further developments at our 2015 annual
stockholders meeting, which is being planned for late this summer.
Formal notice and other details of the meeting will be presented in
our proxy statement that will be made available to our stockholders
and filed with the Securities and Exchange Commission.
Sincerely,
Richard Heddle, President & CEO
About Plastic2Oil
Plastic2Oil, Inc. ("P2O") is an innovative North American fuel
company that transforms unsorted, unwashed waste plastic into
ultra-clean, ultra-low sulphur fuel without the need for
refinement. The Company's patent-pending Plastic2Oil® (P2O®)
process is a commercially viable, scalable proprietary process
designed to provide immediate economic benefit for industry,
communities and government organizations with waste plastic
recycling challenges. For further information, please visit
www.plastic2oil.com.
With its revolutionary P2O technology, P2O has pioneered a
process that has the ability to change the way the world handles
waste plastic and plastic recycling. P2O is committed to
environmental sustainability by diverting plastic waste from
landfill and potential incineration.
The Company is also committed to the creation of green
employment opportunities and a reduction in the cost of plastic
recycling programs for municipalities and business.
U.S. investors can find current financial disclosure and
Real-Time Level 2 quotes at
http://www.otcmarkets.com/stock/PTOI/quote.
FORWARD-LOOKING STATEMENTS
The information presented in this Press Release may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, which involve a number of
risks and uncertainties. Forward-looking statements include, but
are not limited to, statements with respect to management's current
beliefs, plans, strategies, objectives, goals and expectations,
including expectations about the future financial or operating
performance of Plastic2Oil, Inc. (the "Company") and its projects,
sales, vendor and customer contracts, capital expenditures, capital
needs, government regulation of the industry, environmental risks,
limitations of insurance coverage, and the timing and possible
outcome of regulatory matters, including the granting of patents
and permits. Words such as "expect", "anticipate", "intend",
"attempt", "may", "will", "plan", "believe", "seek", "estimate",
and variations of such words and similar expressions are intended
to identify such forward-looking statements.
The potential risks and uncertainties that could cause actual
results to differ materially from those expressed, implied or
forecasted herein may include, without limitation, risks associated
with general business, economic, competitive, political and social
uncertainties; risks associated with changes in project parameters
as plans continue to be refined; risks associated with failure of
plant, equipment or processes to operate as anticipated; risks
associated with accidents or labor disputes; risks associated in
delays in obtaining governmental approvals or financing, or in the
completion of development or construction activities; risks
associated with financial leverage and the availability of capital;
risks associated with the price of commodities and the inability of
our Company to control commodity prices; risks associated with the
regulatory environment within which our Company operates; risks
associated with litigation including the availability of insurance;
and risks posed by competition. The forward-looking statements in
this press release are made as of the date of this press release.
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.
The Company urges readers of this press release to consider
carefully the disclosures in the Company's filings with the
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K, which was filed on March 31, 2015.
CONTACT: Plastic2Oil, Inc.
ir@jbi.net
716-278-0015
Plastic2Oil (PK) (USOTC:PTOI)
過去 株価チャート
から 12 2024 まで 1 2025
Plastic2Oil (PK) (USOTC:PTOI)
過去 株価チャート
から 1 2024 まで 1 2025
