Overview of The
Plastic2Power Business Model
Plastic2Power (P2P) remains the core businesses within the
Integrated Ventures portfolio. The original P2P model was first
developed by our parent APVG in 2012, under Plastic2Power
International LTD, our Vancouver, British Columbia, Canada
engineering and process design division (P2P Canada). They
are wholly owned by P2P and will design and develop our
required processing equipment and hold our related patents.
P2P will set out to build a new plastic packaging waste management solution, by converting collected
mixed plastic waste on a local level, then processing it into oil (its origin) and syngas. This low sulphur oil can to be sold as transportation fuel or used to generate electricity for the local energy grids.
In 2015, we formed Plastic2Power USA (now Integrated Ventures), and had intended to relocate to the Caribbean island of Puerto Rico, a Commonwealth of the United States. There we planned to build out our initial multi-region waste management strategy and build a waste collection network within the Eastern Caribbean Islands. That waste was to be processed to generate mainly electricity for its local power grid needs.
However, that plan changed twice, first after Puerto Rico was devastated by two hurricanes in 2017
(Irma and Maria), then again more recently in January 2020, when an ongoing swarm of earthquakes hit the Southern side of Puerto Rico and destroyed much of the local City of Ponce infrastructure were we intended to build. Shortly thereafter, we elected to redefine our business model once again.
By March 2020, we reengineered our waste to energy process away from converting waste plastic into oil, and instead, convert it into syngas to fuel turbines to generate electricity. We restructured our business model as well and P2P became part of the larger scale Integrated Ventures. Then Covid hit and the wheels of progress stopped.
Under the current P2P model we also eliminated the need to build a local waste collection network, and instead will acquire waste from local recycling companies. P2P will continue to be the core model that operates within each of our proposed Impact Venture Parks.
Together with our solar power generating systems, they will provide the needed electricity, along to fuel our high energy use operations: like vertical indoor farming, atmospheric water-making and cold storage. The goal being to create local power, water and food security long-term for the region.
P2P will use a well known, proven and environmentally friendly plastic waste
processing method called Pyrolysis (Pyro = heat. Lysis = break down). Each system processing line will convert 20 tons of waste plastic daily into usable low sulphur oil or clean syngas.
Plastic Pyrolysis consists of inducing a chemical reaction that involves the
molecular breakdown (larger molecules into smaller molecules) in the presence of heat, within a vacuum. This is known as thermal cracking, thermolysis, or depolymerization.
The plastic oil/syngas we convert from waste will be used not just for generating electrical power for our Venture Park businesses, but surplus electricity would be sold back into the local power grid. The Impact Park model will be able to provide any region interested in addressing their own growing plastic waste issues, with a viable "Waste Solution" to reduce their carbon footprint.
Each Impact Park P2P facility will feature up to a five (5) 20 ton processing line systems, capable of processing 100 tons (200,000 lbs) of plastic waste feed stock daily. This waste is converted to syngas and used to power up to three (3) 10 Megawatt (30 MW) turbines that generate electricity.
The primary end goal of P2P is to capture and end the life cycle of as much waste plastic packaging on a local or regional level to reduce landfill space in general, but prevent these waste products from ever reaching our oceans.
Most of the public does not realize that for every ten (10) pounds of waste plastic packaging that can be recovered, we recover a gallon of low Sulphur fuel oil or equivocal value in syngas to generate electricity. It is far better to repurpose this waste over letting it sit in a local landfill.
When you add the amount of waste plastic already stored in local landfills, or even worse, consider that 8 million tons of new plastic waste is estimated to be entering our oceans annually, one can see this is a growing crisis that must be dealt with.
Collectively this represents over 45 million barrels of oil indirectly dumped into the environment each year. Despite these facts, no consumer outrage is ever seen or heard of. Why is that?
In the age of CoVid-19, the plastic bags are once again deemed viable, and a sea of take-out food containers are on the rise too. This makes our plastic waste problems worse, as they will only grow and result in even more damage to our environment and oceans.
P2P offers a long-term waste solution, while redirecting this waste into a truly uniquely renewable energy resource that creates jobs and reduces carbon at the same time.