FEBRUARY 2010

Phoenix and GBRC team up to process TDF with microwave tech

Global Resource Corp. (GBRC), a developer of patented energy-efficient microwave-based technologies for recycling tires, has announced a joint venture (JV) to develop, build, own and operate several facilities with Phoenix Renewable Energy for the processing of scrap tires. The first facility as part of the JV will be located in Jonesboro, Arkansas and is estimated to be worth $12 million.

The JV will be for the processing of scrap tire derived fuel (TDF) into high margin commercial hydrocarbons and carbon products utilizing GBRC’s patented microwave technology. Phoenix Renewable Energy and GBRC will leverage their technical and commercial capabilities to fund, develop and operate a Patriot Facility. The facility will have a nameplate throughput capacity of 20,000 tons of TDF with projected annual, recurring revenue of approximately $13 million and environmentally positive outputs of electricity and carbon products.

Under the JV agreement GBRC will provide research and development, design, engineering and construction of the Patriot machine that is capable of processing 3 tons per hour.

Phoenix Renewable Energy will be responsible for all other aspects of the facility, including the design, construction, and commissioning the physical facility, all auxiliary equipment including all gas, oil, and carbon black processing outside of the GBRC reactor. The joint venture also allows an equal 50/50 split of revenue generated from each plant between GBRC and Phoenix Renewable Energy.