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CALGARY, AB / ACCESSWIRE / March 19, 2019 / For some time now we've been hearing that governments around the world have intentions to ban single-use plastics, such as plastic bags and drinking straws; however, dealing with the disposal of billions of coffee cups is also a big issue. Sparta Capital Ltd. (TSXV: SAY) (the "Corporation" or "Sparta") has already revealed that it plans to turn waste plastics into useful commodities and now the Corporation is announcing that coffee cup lids will be included in this trash to profit process.
Recently, Sparta announced a Joint Venture with Pi.ECO Canada Ltd., to convert unsortable waste plastic into clean synthetic fuel, on an industrial scale. This will now include coffee lids. As the project continues to advance, Sparta is looking for additional profitable technologies to convert other waste streams, as well as apply technology that can enhance the sale of the off-take from all projects.
In terms of waste plastic, Sparta has an established catchment area in Southern Ontario that can provide more than 100 tons per day of waste plastic. It took time to find the right technology to handle what many people think of as trash but what is really a valuable resource. Sparta management saw the opportunity to start locally with the plastic waste problem but with a vision to expand globally.
"We strongly believe that what we have in front of us is the ability to scale the process of transforming waste plastic into fuel virtually anywhere in the world, but it makes sense for us to start right here in our own back yard," said, Sparta President, John O'Bireck.
Sparta is also looking into how to address the growing concern about proper recycling of coffee cups, arising from them being manufactured from both paper fiber and plastic. As well, the Corporation is trying to address a brand-new concern – how to deal with the safe destruction of marijuana-related biomass coming from Canada's recent legalization of cannabis. A catchment basin is already in place to capture such waste and now technologies are being analyzed with special consideration being given to how the benefits of the present waste streams can be combined with these new waste streams, once under Sparta control.
Sparta Capital Ltd. is a company that 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 provides 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.
For further information contact:
John O'Bireck, President
Email: [email protected]
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", "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 retention of a market maker 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.
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SOURCE: Sparta Capital Ltd.