CBp Carbon Acquires Global Ownership of Green Carbon Technology
The largest investor in recycled carbon black producer CBp Carbon Industries Inc. (CBp) has added a further US$20 million to its initial investment. This action comes at a time when the company is scaling up its development plans in Europe and setting up operations in North America and the Asia Pacific region. Capacity at the CBp facility in Hungary is to be more than trebled – from 3,000 to 10,000 tonnes, and the company reports that the roll out of a number of new plants, each with a capacity in the vicinity of 30,000 tonnes, is in progress.
The new investment comes from CBp Europe Ltd, the primary patent owner and licensor to CBp, who has sold 100 per cent of its world-wide ownership of the patents and all rights to its Green Carbon technology to the company for additional consideration of $4 million, 10 million shares and warrants at $2.00, and two tranches of $3.5 million upon the entry into commercial production of the next two 30,000 tonne capacity plants.
John Novak, president of CBp Carbon Industries stated: “We are pleased that the company’s largest investor has increased the company’s capital by such a significant amount and believe that the acquisition by the company of full ownership of the CBp Green Carbon technology will substantially increase the value of the company to our stock holders.”
Changes have also been made to the CBp board and management. The members of the board are now John Novak (president and CEO), Steven Angelo (director of operations for Europe and the Mid-East), Wim Kemperink (chief financial officer), Ken Lee (executive vice-president of Finance), Jack Fader (senior vice-president of Technology), Peter Jensen, Marinos Angelo, and Jana Whitlock. Expansion and new developments in Europe will be the responsibility of the new director of operations, along with the European team, with Mr. Novak focusing upon North American and Asia Pacific development.
Vice president of Technology, Jack Fader, has filed a series of eight new patents in respect to the CBp’s technology covering ancillary applications, such as the use of CBp Green Carbon in road surfacing and roofing, in addition to its traditional tyre and rubber manufacturing applications. Upon acceptance for registration these patents will provide CBp with 17 to 20 years of patent protection.
The CBp Green Carbon technology recycles 100 per cent of used tyres and scrap rubber by means of pyrolysis. Approximately one-third of resource recovery includes high value oil, which can be employed as qualifying green energy, with the remainder being the recycling of steel and production of CBp Green Carbon for use in tyre and rubber products manufacturing.