Itec expects to complete all necessary testing procedures within the next 30 days. The final testing involves the use of the patented Solvent Wash process and Co2 in the patented Eco2 system.
Once the testing is complete, Itec believes the Riverbank plant will be operational and processing contaminated plastics (PET and HDPE) and producing clean recycled plastic at the rate of 2,100 pounds per hour. Production will increase over the next few months and will reach capacity of 6,000 pounds per hour sometime in the 3rd quarter of 2006. The Company expects the plastic produced to sell for about $0.55 per pound.
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