Polyflow LLC, based in Akron, Ohio, and private equity firm Ambassador Enterprises, Fort Wayne, Ind., have completed an agreement to form Renewable Energy Solutions by Polyflow to commercialize Polyflow’s energy recovery equipment and technology. The firm will be known as RES Polyflow and will be headquartered in Akron with Jay Schabel, Polyflow CEO, heading the new company.
Schabel says, “Our goal is to be the worldwide standard for profitable energy recovery from plastic waste. With the addition of Ambassador Enterprises as our strategic partner, RES Polyflow will produce and demonstrate our continuous feed waste-to-energy recovery system. This project was supported in part by the Ohio Third Frontier Advanced Energy Program with a commercialization grant secured in 2011.”
Tom Stone, a representative of Ambassador Enterprises, says, “After a thorough review of waste-to-energy technologies we are convinced that the Polyflow process offers the most economically feasible solution being commercialized. We are excited to be a part of this business opportunity that has the capability to impact the world in a positive way.”
The patented process and proprietary equipment developed by RES Polyflow converts mixed and unwashed plastic waste, tires and carpet into a range of energy products, including transportation fuels, octane enhancers and chemical intermediates used in the production of new plastic and rubber.
RES Polyflow’s efforts are focused on establishing independently operated energy recovery facilities as well as selling licensed equipment to energy park developers, recyclers, landfill operators and organizations managing large polymer waste streams. In addition to implementing the technology in North America, the company says it is eyeing opportunities to export RES Polyflow’s equipment to Europe, China, India and Australia.