Novo Energies Corp. (NVNC.OB) Executes 10-Year Supply Agreement for Tire Feedstock
Novo Energies Corp., through its wholly-owned subsidiary WTL Renewable Energy, plans to build, own and operate renewable energy plants throughout North America. Using a novel technology, these plants will transform residual plastics and tires into valuable liquid low carbon fuels such as diesel, gasoline and fuel additives. The company announced today that it has executed a ten-year supply contract to recycle tire feedstock with Colorado Tire Recycling LLC. Colorado Tire Recycling has agreed to supply tire derived fuel (TDF) chips to Novo for ten years beginning January 1, 2010. They will provide a minimum of 6,000 tons of TDF for…