CBp Carbon gets $20 million capital injection

ERJ staff report (DS)

Bratislava, Czech Republic -- CBp Carbon Industries Inc, has received an injection of $20 million (Euro 13.7 million) from its largest investor. The company is based in Nevada, US, and has acquired pyrolysis technology for recycling tyres. Its EU base is in Bratislava and it is currently developing sites in Europe for its technology.

The company said it is expanding its operations in its Hungarian plant from 3000 tonnes to 10,000 tonnes capacity and is developing new plant sites in the 30 000 tonne/year range. CBp says the pyrolysis process yields gas for burning, and, "a high-value commercial substitute for carbon black whose properties have been proven to satisfy the demands of the industry producing rubber products."

The Company's Vice-President of Technology, Jack Fader, has filed a series of eight new patents in respect to the Company's technology covering ancillary applications, such as use of CBp Green Carbon in road surfacing and roofing, in addition to its traditional application of tire and rubber manufacturing.

John Novak, president of CBp said, "We are pleased that the company's largest investor has increased the company's capital by such a significant amount and believe that the acquisition by the Company of full ownership of the CBp Green Carbon technology will substantially increase the value of the Company to our stock holders."

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Press release from CBp