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Alterra to License Technology to Freepoint for its Gulf Coast Advanced Plastics Recycling Facility

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2 years ago

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New Facility Among Largest Recycling Capacity in the World

AKRON, Ohio, Feb. 15, 2023 /PRNewswire/ — Today Alterra announces its license arrangement with a subsidiary of Freepoint Eco-Systems Holdings LLC (“Freepoint”) for a proposed 192,000 tonnes per annum advanced plastics recycling facility to be sited in the Gulf Coast region. This facility will be one of the largest advanced recycling plants in the world with the potential to increase the capacity to 288,000 tonnes per annum.

 

Currently, Alterra operates an industrial-scale, fully continuous 20,000 tonnes per annum recycling facility in Akron, Ohio and licenses its proprietary technology to convert end-of-life plastic into feedstock for new plastic products worldwide. This Freepoint project will be Alterra’s first licensing transaction in North America.

“We are excited that an established global commodities merchant with a focus on owning and operating advanced recycling assets to minimize the reliance on fossil fuels for plastic production has chosen the Alterra technology,” said Alterra CEO Frederic Schmuck. “Freepoint shares our vision of a cleaner planet. They are a formidable partner as we build a solution to meet our industry’s circularity goals and enable a world where plastic is never discarded but instead remade over and over.”

“Freepoint selected the Alterra recycling process for our potential Gulf Coast facility because it has successfully operated at commercial scale in the recycling of hard-to-recycle waste plastics. This project will increase the recycled content of the new plastic produced, significantly reduce carbon emissions, divert almost 200,000 tons per year of waste from landfills, as well as assist in the creation of a more sustainable economy and a healthier planet,” said Jeff McMahon, Managing Director of Freepoint. 

The facility will recycle end-of-life plastic otherwise destined for landfills or incineration. The recycling facility’s output will be ISCC Plus certified and sold exclusively to Shell under a supply agreement.

“Shell is delighted to be strengthening its existing relationships with Alterra and Freepoint. With the potential to recycle more than 190,000 tonnes of post-use plastic per year, this facility will support Shell in delivering more of the circular chemicals our customers want,” said Phil Turley, GM, Plastic Circularity Shell.

To learn more about Alterra and its advanced recycling technology, visit alterraenergy.com.

About Alterra Energy LLC: Alterra is the developer, operator, and licensor of a thermochemical liquefaction process technology that renews discarded plastic back into its original building blocks, thus minimizing reliance on fossil fuels for the manufacturing of new plastic products. Our Akron, OH advanced recycling facility is the only full-scale, continuous plant of its kind. By licensing our technology to petrochemical companies driven to meet sustainability goals, we are Solving Plastic Pollution® through Infinitely Renewed Plastics™. Visit alterraenergy.com for more information.

About Freepoint Eco-Systems Holdings LLC: Freepoint Eco-Systems Holdings LLC is an affiliate of Freepoint Commodities LLC, a global commodities merchant providing supply chain management services and eco-friendly products and solutions to its customers. Among other things, Freepoint Eco-Systems is in the business of securing supplies of waste plastic that is not being recycled and converting that waste into reusable products via its advanced recycling facilities. Freepoint Eco-Systems is engaged in business operations in the U.S., Europe, and Asia. More information can be found at FreepointEcoSystems.com

About Shell Chemicals: Shell’s global chemicals business supplies customers with a range of base, intermediate and performance chemicals used to make products that people use every day. Shell wants to play its part in the transformation of the plastics value chain from linear to circular, reducing the need for raw materials and introducing more recycled products into everyday life. Shell believes that advanced recycling technology offers is a complementary solution to reduce, reuse and mechanical recycling measures; and is investing, innovating, and collaborating across the plastic waste value chain to support its growth.

Contact Information:
Thom Misbrener
ATA
330-283-6591
thom@anthonythomas.com

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SOURCE Alterra

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Oberon Securities Advises Keens Steakhouse in Sale Transaction

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47 minutes ago

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November 23, 2024

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Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

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Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

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4 hours ago

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November 23, 2024

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SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

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ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

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5 hours ago

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November 23, 2024

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BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC

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