The acquisition is seen as a way for UK company to vertically integrate its operations.
3DM Worldwide plc, a leader in plastics technology intellectual property, announces that it has agreed to acquire EEVJP Ltd., a UK-based company that specializes in several recycling processes that are relevant to 3DM’s Powder Impression Molding process.
Pending exercise of the option, EEVJP will grant 3DM a free exclusive license to use the relevant technologies.
Following exercise of the option, EEVJP will be renamed 3DM Environmental Limited and will provide the company with one patented and two further patentable processes that complement 3DM’s existing Intellectual Property.
The two plastics recycling technologies EEVJP specializes in include a plastics recycling system for airline waste, medical waste and old refrigerators, which produces a material that is particularly suitable for use in the PIM process. The second technology converts old x-ray plates into a grade of PET polymer that is also highly suitable for the PIM process, as well as silver as a by-product – silver is used in X-ray plates to project the image.
The third process held by EEVJP is a patented means of using recycled plastic in sewerage treatment that also has further applications in the field of hydroponics.
Ken Brooks, chairman of 3DM Worldwide plc said: “While the original work done on the PIM process was exclusively with virgin material, wider applications are increasingly being investigated. We are finding that we can apply significantly more types of materials to the PIM process than was originally anticipated. Furthermore all the products that PIM creates will also be recyclable. Being eligible for grant funding will allow us to experiment further with recycled material so that 3DM can offer a genuine environmentally sound solution for the use of polymer waste.”