NIAGARA FALLS, NY--(Marketwired - Aug 1, 2013) - JBI, Inc. (the "Company" or "JBI") (OTCQB: JBII), a clean energy company that recycles waste plastic into liquid fuels, is pleased to announce its participation with Crayola, LLC ("Crayola") in its "COLORCYCLE" program, which converts markers into clean energy.
The "COLORCYCLE" program will be conducted throughout the United States in participating K-12 schools and encourages students to responsibly dispose of used Crayola markers through an in-school collection process. Markers will be sent to JBI, where they will be used as feedstock to produce diesel and other liquid fuels using JBI's Plastic2Oil® ("P2O") process.
JBI's CEO Tony Bogolin stated, "We are extremely pleased to partner with Crayola. By introducing this program, Crayola continues to prove to be a leader, not only in its industry, but also in worldwide waste reduction ethics and social responsibility."
As part of the agreement with Crayola, JBI will provide services to repurpose markers and Crayola materials contained in the program. In addition, JBI is receiving waste and overruns from Crayola that are being used as additional feedstock.
"At JBI, we are committed to environmental sustainability by diverting plastic waste from landfills and potential incineration," said John Bordynuik, Chief of Technology and founder of JBI. "Partnering with Crayola is a unique opportunity for our company, and we look forward to a relationship that reduces the amount of plastic entering landfills, while also creating cleaner, lower sulphur fuels."
JBI, Inc. has a proprietary green process for converting waste plastics into ultra-clean, ultra-low sulphur in-spec fuels. The emissions from its P2O process are less than what a natural gas furnace of the same size would produce. Furthermore, a stack test conducted in December 2012 confirms that P2O emissions far exceed the standards and criteria established by the New York State Department of Environmental Conservation.
Schools can visit www.crayola.com/colorcycle to find more information and register for the program.
About JBI, Inc.
JBI, Inc. is a clean energy company that recycles waste plastic into liquid fuels. JBI's proprietary Plastic2Oil technology can deliver economic and environmental benefits by replacing refined fuels and diverting waste plastic from landfills. For further information, please visit www.plastic2oil.com.
Forward Looking Statements
This press release contains statements, which may constitute "forward looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of JBI, and members of its management as well as the assumptions on which such statements are based, including the expected timing of the Company's Form 10-K, execution of the proposed agreements described above and consummation of the transactions contemplated by such agreements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Such risks include, but are not limited to: (1) JBI has a history of net losses, and may not be profitable in the future; (2) JBI may not be able to obtain necessary licenses, rights and permits required to develop or operate our Plastic2Oil business, and may encounter environmental or occupational, safety and health conditions or requirements that would adversely affect its business; and (3) JBI may experience delays in the commercial operations of its Plastic2Oil machines and there is no assurance that they can be operated profitably. For a more detailed discussion of such risks and other factors, see the Company's Annual Report on Form 10-K, filed with the SEC on March 15, 2013 and its other SEC filings. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.