Plans for a tire recycling plant in Belledune, New Brunswick, are in limbo until Unisphere waste conversion can secure financing to begin the project, according to a report by the Canadian Broadcasting Corp.
Unisphere waste conversion has ties to Bennett Environmental, the company that's building a toxic soil treatment plant in Belledune.
Unisphere hopes to process scrap tires, then sell the bi-products as fuel. So far, its technology has only been tested as part of a small-scale pilot project in Pennsylvania.
Last year, Unisphere announced it would build in Belledune, and the New Brunswick government approved a $6.5 million loan guarantee for the company. But Unisphere slowed down its plans, and the time frame for the loan expired.
John Wypich, Unisphere's CEO, says the company's needs have changed. He says Unisphere is working to secure financing before continuing with its plans in Belledune. "We're still very strongly attracted to Belledune but we want to go there with a much stronger different kind of picture, different kind of company."
Wypich expects to re-enter negotiations in New Brunswick by early next year.
The Noranda smelter has already tentatively agreed to buy some of the company's fuel. And the department of environment will allow Unisphere to by-pass a full environmental impact assessment in favor of a list of 19 conditions.Get curated news on YOUR industry.
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