MINNEAPOLIS, Oct 31, 2008 (GlobeNewswire via COMTEX News Network) -- Northern Technologies International Corporation(Nasdaq:NTIC) announced today the receipt of a contract from the Thai municipality of Hua Hin for the purchase andinstallation of a Polymer Energy plant to convert waste plastic into a mixture of gasoline, diesel and mid-distillates. This is thethird such plant that NTIC will have installed in Asia, and is expected to be fully operational by April 2009. Two other Polymer Energy plants are currently being commissioned in Chennai, India and Rayong, Thailand and are scheduled for completion by January 2009.
"Given the increasing global demand for environmentally beneficial waste management practices, the Polymer Energy technology removes the burden of waste plastic from landfills and converts it into valuable fuel," said Patrick Lynch, CEO of NTIC. "As our other units in India and Thailand near full operational status, this third Polymer Energy order in Asia reflects the growing confidence in our technology."
Polymer Energy offers a fiscally and environmentally beneficial solution to waste plastic, by using catalytic pyrolysis to efficiently convert polyolefins into hydrocarbons. The modular plant design allows for scalable capacity, with each unit capable of processing up to ten tons of waste plastic per day. The robust process can handle plastic contaminated with up to twenty-five percent of other types of waste such as metals, glass, dirt and water. As a result, the waste plastic does not need to be presorted, cleaned or dried prior to processing, which significantly reduces the overall cost of plant operation.
The marketing, installation and technical support of Polymer Energy in Thailand is exclusively managed by Single Point Energy & Environment (SPEE), a 50:50 joint venture between NTIC and the Specialty Group of Companies.
The Polymer Energy technology was developed by Mr. Zbigniew Tokarz, and is marketed under the T-Technology(tm) brand in Europe. The technology has won several industry awards, including the prestigious 2006 European Environmental Press Award for innovative waste management solutions. For more information, visit www.polymerenergy.com.
