NIAGARA FALLS, NY -- (Marketwired) -- 06/13/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, is pleased to announce that it has finished assembly of its third Plastic2Oil ("P2O"®) processor at its Niagara Falls facility.
To access a photo accompanying this release please click the following URL: https://www.issuerdirect.com/corporate/img/7b2c1181dfa29d24e607f98d92b8fc72
The designs behind the third processor have undertaken significant upgrades since the previous generation processors, including the addition of a real-time residue removal process that the Company anticipates will increase processor uptime, as measured by the amount of time the processor is at full capacity producing fuel. All individual subsystems, including burners, kilns, towers, off gas, cooling and flue gas systems have been tested and are operational. Processor 3 is now undergoing initial plastic feeding, fuel production and process debugging, which will address any initial problems and any parts that may potentially fail under the full heat of the process and plastic loads. This testing is consistent with the Company's standardized new processor start-up protocol.
To access a photo accompanying this release please click the following URL: https://www.issuerdirect.com/corporate/img/1a35c3369ed71222f7e47f7bd51ac2b5
"Hands down, we believe that this processor will be recognized as the world's most technologically advanced and efficient piece of machinery in the emerging plastic to oil market. We have addressed the residue removal challenge head on with the addition of the continuous removal system. In addition to the towers being larger than those of the previous generation processors, we have also used operational data from previous generation processors to make a significant number of upgrades to the rest of this processor. We believe this processor is positioned to be second-to-none in terms of fuel product, emissions, process efficiency, automation and operating cost," said John Bordynuik, Chief of Technology and Company founder.
JBI President and Chief Executive Officer Tony Bogolin said, "We believe that this new processor will significantly improve our production and will be our flagship for use at future P2O sites. In addition, we anticipate that consistent production out of this processor will be a stabilizing force to help fuel the Company's growth."
"We expect that this processor's operation will translate directly into increased revenues, improved margins and ongoing growth," continued Mr. Bogolin. "In addition to working towards consistent production, our highest priorities remain aggressively managing costs and working towards constituting a highly qualified Board of Directors."
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