Mobilestream oil announces tire processing
contracts
West Berlin, NJ— Mobilestream Oil, Inc. announced
that multiple contracts have been signed for the purchase of output
material from the first tire processing plant utilizing Mobilestream’s
unique patent pending technology for a minimum of five years.
GTI, an oil and chemical trading company in New
Jersey, has agreed to purchase all the oil from the operation of
the tire plant for at least the first five years of operation. It
is anticipated that the plant, which will be capable of processing
11 million tires a year, will generate approximately 286,000 barrels
of oil annually. Based upon the current market price of approximately
$75 per barrel for crude oil, the sale of oil should generate an
estimated $21 million in annual revenues.
An additional contract has been signed with C
and K Scrap Metal, a Newark, New Jersey-based company, for the purchase
of all of the output of steel from the first tire processing plant.
It is anticipated that 20 million pounds of scrap
steel will be produced per year at the current market price of $.10
per pound, with generated revenue of approximately $2,000,000 after
the first 12 months. Mobilestream will generate an estimated $150,000
to $200,000 in revenues per month from the sale of its scrap steel.
According to the Rubber Manufacturers Association,
290 million scrap tires were generated in the United States in 2003
alone. This does not include the millions of tires already in tire
piles.
The Mobilestream process allows for environmentally
safe recovery of all of the original materials from scrap tires.
Each tire plant will be capable of handling 11 million tires a year.
Utilizing this process, each 20-pound tire will yield 19.9 pounds
of resalable materials. A tire will produce approximately 8 pounds
carbon black, 2 pounds of hydrocarbon gases, 1.2 gallons of oil
and 2 pounds of steel. |
