ITEC Environmental Group will change its name to ECO2 Plastics, Inc. It is expected that the name change will take place within the next 30 days.
The company communicated that the new name for the business:
* Reflects the company's mission to change the way plastic is recycled worldwide;
* Emphasizes the company's patented and patent-pending recycling technology -- using a biodegradable, organic solvent and liquid CO2 in the recycling process; and
* Will enable manufacturers to leverage a recognizable brand platform that consumers can identify with and look for when purchasing plastic products.
ECO2 Plastics is pursuing a strategy of owning and operating plastic recycling plants worldwide. The Company's proprietary technology positions ECO2 Plastics as the lowest cost, highest quality producer of recycled plastic flake in the industry, deploying an innovative process, which delivers significantly improved financial performance while minimizing environmental impact.