PET Plastic Insulation Plant Studied

Rtica Inc. signed a restated Memorandum of Understanding agreement with the SGF CHIMIE, a subsidiary of the Société Générale de Financement du Québec. The MOU enables both parties to evaluate the construction and operation of a plant that uses Rtica's technology in the production of insulation for residential and industrial markets.

The plant will be located in Quebec.

Certain studies stemming from a prior MOU in place since last August have been completed, notably market analysis and technology assessment. The production facility contemplated would be capable of 24,000 metric tons annually and will require an investment approaching $35 million.

Warren Arseneau, Rtica’s president, "We are delighted with the renewed SGF association. Their record of successful ventures to scale up technology is well known. And their long-term commitment to PET in North America, our principal raw material, positions them as an ideal partner with a valuable insight into our business."

RTICA is a fibrous material manufactured from recycled polyethylene terephthalate a plastic sourced mainly from plastic bottles removed from waste and recycling streams.