Business
Global Clean Energy, Inc, the industry's most diversified feedstock aggregator, reaches an agreement to develop Nova ReNew's Plastics to Fuel sites.
Global Clean Energy, Inc, the industry's most diversified feedstock aggregator, reaches an agreement to develop Nova ReNew's Plastics to Fuel sites..
About this update from Global Clean Energy, Inc.
[{"type":"text","content":"HOUSTON, TX--(Marketwire\n-August 22, 2013) - Global Clean Energy, Inc. (OTC PINK: GCEI) confirms that it\nhas reached an agreement with Nova ReNew Inc. of Halifax, Nova Scotia, for the\ndevelopment and financing of a plastics to fuel plant, utilizing pyrolysis\ntechnology.\n\nToday's agreement makes\nGCE the co-developer of a turn-key plastic to fuel plant that will consume\n6,000 tons of End of Life plastics annually, and convert it into a high value\nfuel.\nThe Plastics to Oil plant will be the largest of its kind in Atlantic Canada,\nand will serve as a showcase for the North American market.\n\nGlobal Clean Energy,\nInc. will partner with Nova ReNew Inc. and provide financing for the proven\ntechnology, the plant, and operations. Nova ReNew Inc. will provide complete\noversight, operations and maintenance of the operation.\n\n\"We have been in\ndiscussions with Nova ReNew Inc. throughout the past year and today marks a\nsignificant milestone in our talks,\" said Brian Levine, GCE's\nCOO.\"The Nova ReNew group has been working closely with government\nofficials, feedstock suppliers, engineering, and procurement groups for the\npast two-years; creating perfect conditions for one of our plants. We value\nNova ReNew's project development capability, knowledge of local environment\nissues, and process knowledge. Further, we believe we will jointly deliver an\nefficient and effective world class, End of Life plastics solution driven\nindustry.\"\n\nNova ReNew Inc. has\nassembled a dynamic, respected and capable management team that has experience\nin direct construction, design, and supervision of $100,000,000 projects\nincluding paper mills, electricity generation facilities, and solid waste\nmanagement facilities. The group also has extensive knowledge in establishing\nrecycling programs in Nova Scotia and in the Caribbean. VP of Government\nRelations for Nova ReNew Inc., the Hon. Wayne Adams, said, \"Our\noperational experience allows for seamless transition from construction to\noperational support.\" Adams added, \"GCE is the only firm we've found\nin North America whose business model is to partner with developers to\naccelerate site development, engineering and finance, ensuring management is\nboth directly accountable, while maintaining a strong equity stake based on the\nbusiness units performance; and we plan to make th...