Novo licensed for exclusive tire-to-energy technology
MONTREAL: A Montreal-based alternate energy company intends to do something with the old tires that are piling up across North America.
Novo Energies Corp. has entered into a technology collaboration agreement with Colorado-based Precision Pipe and Vessel LLC for an exclusive worldwide license to use Precision’s proprietary gasification technology that converts plastic and tire waste into energy products. These would include electricity, synthesis gases and the recovery of other valuable commodities such as steel.
Novo, which intends to own and operate plants across tire and plastics recycling plants across North America, and Precision, a welding and vessel fabricator based in Denver, have agreed “to enhance and augment” Precision’s existing pilot plant in Colorado. Novo Energies will then develop multiple projects in the US and oversee energy projects outside of North America through its partner, Novo Energies International Ltd.
“This is a major milestone for Novo Energies, its team, and our shareholders. In our search for the most efficient and economical methods to convert plastic and used tires into valuable energy products, we have spent the last 12 months evaluating several technologies, including pyrolysis, gasification and microwave based systems,” said Antonio Treminio, Novo’s CEO and chairman.
He said Precision’s technology was selected because it converts the feedstock to energy efficiently, produces no toxic emissions, the preliminary synthesis gas meets strict standards on quality and consistency, carbon conversion is the highest of any known gasification system on the market, the resulting syngas powers the process, and production costs are low.
Novo plans to demonstrate the pilot facility in Denver, Colo. as a showcase unit for government officials, institutions, utility companies, and the investment community, as well as augment the plant’s output to reach commercial quantities.