JBI, Inc. and Crayola Partner to Launch "COLORCYCLE" Program
August 01 2013 - 8:00AM
Marketwired
JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy
company that recycles waste plastic into liquid fuels, is pleased
to announce its participation with Crayola, LLC ("Crayola") in its
"COLORCYCLE" program, which converts markers into clean energy.
The "COLORCYCLE" program will be conducted throughout the United
States in participating K-12 schools and encourages students to
responsibly dispose of used Crayola markers through an in-school
collection process. Markers will be sent to JBI, where they will be
used as feedstock to produce diesel and other liquid fuels using
JBI's Plastic2Oil® ("P2O") process.
JBI's CEO Tony Bogolin stated, "We are extremely pleased to
partner with Crayola. By introducing this program, Crayola
continues to prove to be a leader, not only in its industry, but
also in worldwide waste reduction ethics and social
responsibility."
As part of the agreement with Crayola, JBI will provide services
to repurpose markers and Crayola materials contained in the
program. In addition, JBI is receiving waste and overruns from
Crayola that are being used as additional feedstock.
"At JBI, we are committed to environmental sustainability by
diverting plastic waste from landfills and potential incineration,"
said John Bordynuik, Chief of Technology and founder of JBI.
"Partnering with Crayola is a unique
opportunity for our company, and we look forward to a relationship
that reduces the amount of plastic entering landfills, while also
creating cleaner, lower sulphur fuels."
JBI, Inc. has a proprietary green process for converting waste
plastics into ultra-clean, ultra-low sulphur in-spec fuels. The
emissions from its P2O process are less than what a natural gas
furnace of the same size would produce. Furthermore, a stack test
conducted in December 2012 confirms that P2O emissions far exceed
the standards and criteria established by the New York State
Department of Environmental Conservation.
Schools can visit www.crayola.com/colorcycle to find more
information and register for the program.
About JBI, Inc.
JBI, Inc. is a clean energy company that recycles waste plastic
into liquid fuels. JBI's proprietary Plastic2Oil technology can
deliver economic and environmental benefits by replacing refined
fuels and diverting waste plastic from landfills. For further
information, please visit www.plastic2oil.com.
Forward Looking Statements
This press release contains statements, which may constitute
"forward looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees as of 1995. Those statements include statements
regarding the intent, belief or current expectations of JBI, and
members of its management as well as the assumptions on which such
statements are based, including the expected timing of the
Company's Form 10-K, execution of the proposed agreements described
above and consummation of the transactions contemplated by such
agreements. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Such risks include, but are not limited to: (1) JBI has
a history of net losses, and may not be profitable in the future;
(2) JBI may not be able to obtain necessary licenses, rights and
permits required to develop or operate our Plastic2Oil business,
and may encounter environmental or occupational, safety and health
conditions or requirements that would adversely affect its
business; and (3) JBI may experience delays in the commercial
operations of its Plastic2Oil machines and there is no assurance
that they can be operated profitably. For a more detailed
discussion of such risks and other factors, see the Company's
Annual Report on Form 10-K, filed with the SEC on March 15, 2013
and its other SEC filings. 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.
CONTACT Chris Irons Corporate Communications &
Investor Relations Manager 716.471.5995 ir@jbi.net MEDIA
INQUIRIES media@jbi.net or please visit the JBI, Inc. Newsroom
at www.plastic2oil.com
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