Company: Environmental waste international
Listings :TSXV , US OTC
Ticker: $EWS $YEWTF
Market cap at time of publication: $52 MCD
Stock price at time of publication: 0.20 CAD
Business: Tyre and waste recycling through reverse polymerization
TAM Market size: 158 billion $
Comparable peer : Scandinavian Enviro systems $SES
Website: https://www.ewi.ca/
Environmental Waste International announced today that the Ministry of the Environment,
Conservation and Parks (“MECP”) has approved the Company’s proposal to increase the maximum
amount of tire waste that can be treated at its Sault Ste. Marie (“SSM”) facility to 20 tonnes per day,
double the 10 tonnes per day it had previously approved.
The commercialization of the SSM facility being undertaken by EWS’ will be increased to 20 tonnes
per day, substantially increasing its profit potential.
EWS had successfully run the SSM plant as a demonstration and R&D facility for five years prior to
the Company’s submission to the MECP. The plant, using the EWS’ patented microwave technology,
will process end of life tires producing recycled carbon black, oil, steel and syn gas in an
environmentally friendly manner. The high-quality carbon black is used as a replacement for virgin
carbon black in plastic and rubber products. The oil and steel are utilized as raw feedstock, offsetting
the requirement for new virgin materials. The syn gas provides energy for the plant. Tire recycling
plants using EWS’ technology do not require tipping fees, carbon credits or other government
support to generate a compelling ROI.
Bob MacBean, EWS CEO said “This approval along with the engineering work and the actual physical
work within the plant already completed is showing continued progress of the upgrade process. Our
proprietary technology provides a solution to a worldwide environmental waste problem while
generating attractive financial returns. We believe the commercialization of our Sault Ste. Marie
facility can further solidify EWS’ technology as the market-leading solution.”
ESG Comment:
Today’s announcement is a big step for EWI as there have been some concerns in the past if they would be able to obtain approval for their intended doubling of production capacity at the Sault Ste. Marie facility . We are pleased and relieved to see that all environmental permits for the expansion and commercial plans have been approved. We have also seen significant insider buying in EWI this summer from several management leaders including the CEO Bob McBean which we interpret as a bullish signal.
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