Earth Enterprises signs license agreement with ERT for its patented PIM recycling process
Environmental Recycling Technologies plc (ERT), the patent rights holder to the Powder Impression Molding (PIM) process, announced that it has granted a non-exclusive license to Earth Enterprises, Inc in the US.
The PIM process converts mixed waste plastics into commercially viable products. The license granted allows for the manufacture and sale of flat sheet products within the territory of the US.
Under the terms of the license, Earth Enterprises will pay ERT a license and knowledge transfer fee of US$150,000. In addition to this sum Earth Enterprises will pay to ERT an annual royalty based on the volume of products sold.
The initial scale of the Earth Enterprises PIM production plant is scheduled to produce 40,000 units per annum with built-in capacity to expand as sales increase. Earth Enterprises has secured a Colorado state capital grant of US$933,000 to invest in the machinery required for the PIM process.
"This is another positive step in the roll out of our flat sheet capability in North America where our existing licensee is focused on engineered product for specific industrial applications. Earth Enterprises is known for its focus on new manufacturing opportunities for materials that are normally viewed as being un-recyclable. It is therefore fitting and we are very pleased that they should choose to license our proven PIM technology which can convert mixed waste plastics into commercial product," said Lee Clayton, Managing Director of ERT.
Earth Enterprises, which operates as Waste-Not Recycling, is a provider of comprehensive recycling services in the US.
"We are very excited to partner with ERT to bring the PIM technology to the US where we will turn scrap plastics into a variety of products. This new manufacturing capability will be a triple bottom line - good for the People of Colorado and good for the Planet while enhancing Profitability," commented Anita Comer, President and Todd Loose, Vice President of Waste-Not Recycling.
