Plateau Mineral Development, Inc. Issues an Update on the Converter Project
.Companies:Plateau Mineral Development, Inc..Press Release Source: Plateau Mineral Development Inc. On Tuesday January 5, 2010, 4:06 pm
WINSTON-SALEM, N.C., Jan. 5, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) announced today that the firm, in conjunction with Environmental Solutions, has completed a design for a converter unit that will transform tires into carbon black, oil, gas and petroleum solvents.
The market for carbon black includes the manufacturing of new tires as well as for producing batteries, making it an even more important commodity than the company had originally thought. Carbon black sells for approximately $0.46 per pound.
A prototype unit was put to the test, showing that the converter yields more than 95% of usable product after it converts the materials put into it. The fully-operational converter is the size of a truck bed. However, the goal is to fabricate and test a portable unit that can be taken to remote sites for conversion and environmental cleanup jobs. Funds are currently being raised to create a better, more efficient second generation unit.
Robert Matthews of Plateau Mineral Development, Inc. states, "The discovery that carbon black can be used for batteries is a leap in the right direction for us. Since the converter lends itself to the production of carbon black, and since carbon black can be used for batteries and the remanufacture of tires, there's a great deal of potential with regard to the profitability of creating and using the converter."
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Plateau Mineral Development, Inc. Provides an Outline on Uses for Products of the Converter
.Companies:Plateau Mineral Development, Inc..Press Release Source: Plateau Mineral Development Inc. On Wednesday January 6, 2010, 11:14 am
WINSTON-SALEM, N.C., Jan. 6, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) announced today that the firm, in conjunction with Environmental Solutions, has issued a statement providing a pro-forma outline on the monetary benefits of solvent, which represents forty-six percent (46%) of the output. Other products of the converter will serve to greatly improve the profit margins of the tire converter.
Plateau's converter will generate solvent, carbon black and enough natural gas to operate in remote sites without additional power. The proposed unit is capable of processing approximately 6.25 lbs. of total product per minute.
At 6.25 lbs. per minute, 3,000 lbs. per 8-hour work day can be generated and transformed into approximately 7 gallons of solvent which sells for approximately $40/gallon, generating $7885.60 in revenue per day, which can lead to $157,712 per month. Additionally, solvent can be used to dissolve paraffin and to reduce the viscosity of heavy oils.
The market for carbon black includes the manufacturing of new tires as well as for producing batteries, making it an even more important commodity. Carbon black sells for approximately $0.46 per pound and is not included in the pro-forma above for the solvent.
Robert Matthews of Plateau Mineral Development, Inc. states, "We find that there's clearly a great profitability when it comes to the end products of the converter. Solvent, carbon black and natural gas are three items with high demand in the marketplace."
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
.Companies:Plateau Mineral Development, Inc..Press Release Source: Plateau Mineral Development Inc. On Wednesday January 6, 2010, 11:14 am
WINSTON-SALEM, N.C., Jan. 6, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) announced today that the firm, in conjunction with Environmental Solutions, has issued a statement providing a pro-forma outline on the monetary benefits of solvent, which represents forty-six percent (46%) of the output. Other products of the converter will serve to greatly improve the profit margins of the tire converter.
Plateau's converter will generate solvent, carbon black and enough natural gas to operate in remote sites without additional power. The proposed unit is capable of processing approximately 6.25 lbs. of total product per minute.
At 6.25 lbs. per minute, 3,000 lbs. per 8-hour work day can be generated and transformed into approximately 7 gallons of solvent which sells for approximately $40/gallon, generating $7885.60 in revenue per day, which can lead to $157,712 per month. Additionally, solvent can be used to dissolve paraffin and to reduce the viscosity of heavy oils.
The market for carbon black includes the manufacturing of new tires as well as for producing batteries, making it an even more important commodity. Carbon black sells for approximately $0.46 per pound and is not included in the pro-forma above for the solvent.
Robert Matthews of Plateau Mineral Development, Inc. states, "We find that there's clearly a great profitability when it comes to the end products of the converter. Solvent, carbon black and natural gas are three items with high demand in the marketplace."
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.