WINSTON-SALEM, N.C., Jan. 5, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP - News) announced today that the firm, in conjunction with Environmental Solutions, has completed a design for a converter unit that will transform tires into carbon black, oil, gas and petroleum solvents.
The market for carbon black includes the manufacturing of new tires as well as for producing batteries, making it an even more important commodity than the company had originally thought. Carbon black sells for approximately $0.46 per pound.
A prototype unit was put to the test, showing that the converter yields more than 95% of usable product after it converts the materials put into it. The fully-operational converter is the size of a truck bed. However, the goal is to fabricate and test a portable unit that can be taken to remote sites for conversion and environmental cleanup jobs. Funds are currently being raised to create a better, more efficient second generation unit.
Robert Matthews of Plateau Mineral Development, Inc. states, "The discovery that carbon black can be used for batteries is a leap in the right direction for us. Since the converter lends itself to the production of carbon black, and since carbon black can be used for batteries and the remanufacture of tires, there's a great deal of potential with regard to the profitability of creating and using the converter."
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
Safe Harbor Statement: This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
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