Brian Kistler, CEO, stated "A great
deal of work and effort has gone into setting the stage for what I believe is going to be an exciting time for the company.
In the last corporate update, I mentioned the Patent Pending SR-139 Asphalt Shingle Recycling technology. While it is true
that we had a couple of false starts, I am very pleased to announce that we have developed the mechanical process of extracting
the liquid asphalt from the shingles. We named this process and have launched "ELAS". The acronym for "(E)xtraction
of (L)iquid (A)sphalt from (S)hingles".
"ELAS" is a patent pending process that utilizes the patent pending
technology SR-139. We have been working with the environmental agencies for the last few months to secure the permits needed.
The opportunities are great in that over 11 million tons of asphalt
shingles are disposed of each year into the landfills. To put that into perspective, if every ton of shingles could be recycled,
on a very conservative basis, it could mean over $500 million each year in bottom line profits, for someone, from the estimated
2 million tons of hydrocarbons just wasting away.
have tried to enter into the shingle recycling arena only to find out it was much easier to collect the shingles than to recycle
and get rid of them once collected. So in addition to the yearly disposal there are many locations with tons of shingles,
just waiting for the solution and WE HAVE IT!