Sparta Capital Provides Follow-Up Information on Joint Venture
Not for distribution in the United States
Calgary, Alberta (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
plasticthen becomes land filled. 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, timingrequired for pretreatment of feedstock, varying evaporation and distillation requirements, and refining and final blending are all factors that drastically impact the commercialization of industrial scaleoperations 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
Sparta Group owns or holds a controlling interest in a network of independent businesses that supply
Sparta is a publicly traded company listed on the TSX Venture Exchange under the symbol “SAY” (TSX.V
For further information please contact:
John O’Bireck, President
Telephone: (905) 751-8004
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"
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