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CALGARY, AB / ACCESSWIRE / December 17, 2018 / Sparta Capital Ltd. (TSXV: SAY) (the "Corporation" or "Sparta") is pleased to provide the following supplementary information in relation to its 50/50 joint venture (the "Joint Venture") with Pi.Eco Canada Ltd. ("Pi.Eco"), earlier disclosed on December 13, 2018.
The initial project (the "Project") for the Joint Venture will be the construction of a facility (the "Facility") in the Greater Toronto Area, to re-direct some 18,000 tons per year of waste plastic from landfill - converting it to synthetic fuels, such as, SAE Grade II synthetic diesel fuel. Discussions are ongoing to obtain project financing to manufacture the flagship plastic to fuel technology (the "PTF Equipment") with an expectation of securing the same in the early part of 2019. In anticipation of this, the venture parties are simultaneously working to secure long-term availability of plastic feedstock, and to enter into a land lease for the development of the Facility where the PTF Equipment will be operated.
"Despite technological advances over recent years, there remains a portion of the plastic waste stream where the inability to separate plastics can make recovery unfeasible - much of this non-recycled plastic then becomes landfilled. However, the Joint Venture has identified a new plastic to fuel technology that will play a key role in the commercialization of the Project. Items such as, timing required for pre-treatment of feedstock, varying evaporation and distillation requirements, and refining and final blending are all factors that drastically impact the commercialization of industrial scale operations such as the Project, and which the PTF Equipment has looked at addressing," said John O'Bireck, President of Sparta.
The benefits presented by the Joint Venture are two-fold: (i) transforming non-recycled plastic into a valuable commodity and (ii) creating a reliable source of alternative energy. A primary goal of the Joint Venture is the further exploration of the newest generation of plastic to fuel technologies and how the Joint Venture can complement and support the existing mechanical recycling infrastructure for plastics.
About Pi.Eco:
Pi.Eco is dedicated to the distribution of conversion technologies that promote secondary use of end of life plastics. Through establishing projects that implement advanced waste management technologies, Pi.Eco looks to provides leadership in the application and operation of solutions to reduce waste plastics filling landfills and waterways.
About Sparta:
Sparta Group owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions and increase operating efficiencies in various industries. Sparta's network of independent businesses provide a wide range of specialized energy capturing, converting, optimizing and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning and other shared services to its independent businesses.
Sparta is a publicly traded company listed on the TSX Venture Exchange under the symbol "SAY" (TSX-V: SAY). Additional information is available www.spartacapital.com or on SEDAR at www.sedar.com.
For further information please contact:
John O'Bireck, President
Email: jobireck@spartacapital.com
Telephone: (905) 751-8004
Cautionary Statements:
This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this news release and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. In particular, this news release contains forward-looking statements relating to, among other things, statements pertaining to the "Joint Venture" and actual results could differ materially from those currently anticipated due to a number of factors and risks.
These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sparta Capital Ltd.
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