Unisphere Inks Agreement with Buffalo Fuels

Tire recycler lands contract for tire derived fuel.

Published April 27, 2004

Unisphere Waste Conversion Ltd. announced that the company has signed a supply agreement to provide tire derived fuel to Buffalo Fuels. Buffalo Fuels has contracts for the operation of power generation plants at several locations in the State of New York. Unisphere has agreed to supply TDF to the Black River Power Electrical Generation Plant in Fort Drum, New York. The tire supply, 1 1/2 inch tire shreds, will be shipped from Unisphere's Grenier site near Franklin, Quebec, and the St. Gilles site near Quebec City.

 

The agreement provides that Unisphere will supply 100 tons per day of TDF which combined with tire removal fees from contracts with the Province of Quebec is expected to generate annual revenue of approximately $5 million. The agreement also provides that Buffalo Fuels may purchase an additional 80 tons per day for the Black River Plant. Unisphere is in the process of adding additional shredders to accommodate this throughput, bringing the expected annual revenue potential to approximately $9 million. This is a 2-year supply agreement, with an option to renew for periods of one year by mutual agreement of both parties.

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