Joseph F. Longo, Startech Environmental Corp. president also received the Letter of Intent from FFI for FFI’s purchase of a 100 ton-per-day Startech Plasma Converter System (PCS) for installation in the waste-to-ethanol facility, scheduled to go online in late 2007. Plans call for the Toms River facility expansion to include a series of additional Startech PCSs.
The PCS will safely and completely destroy the tyres in a process that results in a clean-synthesis gas product called Plasma Converted Gas (PCG). According to the companies, the PCG produced will be piped directly into the FFI system to make commercial fuel-grade ethanol for sale.
"The strategic alliance between FFI and Startech will open more doors into the U.S. ethanol market for both companies, as well as to customers in Europe, Asia and South America, where Startech currently has initiatives under way,” Longo said.
The New Jersey Economic Development Authority announced that the resolution for the preliminary approval of $84 million tax-exempt bond financing for FFI has been fully executed and officially adopted by the State of New Jersey. The tax-exempt bonds will be used for the design, construction and startup of the anticipated 52 million gallon-per-year waste-to-ethanol production facility.