AUGUST 2011
                                        

Partnership formed to turn recycled plastics to oil

Greenstar Recycling, Houston, Texas, has signed a Memorandum of Understanding to form a joint venture with Vadxx Energy, LLC, Cleveland, Ohio, to convert recovered plastic into synthetic crude oil. Through this joint venture, Greenstar and Vadxx will work to provide a domestic fuel while repurposing recovered plastic.

“Vadxx will help us recover plastics from the material stream and repurpose them as feedstock for the production of oil,” said Matt Delnick, Greenstar chief executive officer. “This joint venture will increase recovery rates by pulling more plastics out of landfills.”

Using proprietary processes, Vadxx manufactures synthetic crude oil and natural gas by using raw material feedstock consisting of petroleum-based plastics in a process called thermal depolymerization. Greenstar chose Vadxx as its partner in plastics to energy because of Vadxx’s potential to scale to commercial size and capacity based on Vadxx’s continuous feed process, flexible design and expandable system.

Greenstar and Vadxx expect that the joint venture will begin producing crude oil in mid-2012 with the target location for the project in Ohio.