According to reports, JBI, Inc. (OTCQB: JBII), a company that recycles waste plastic into liquid fuels, will have its third processor up to produce fuel in the second quarter of this year.
The reason it's not up already, according to their press release , is because of fabrication delays. However, the clean energy company said even though there was hope to have it online during the First quarter of this year, updates will be given in their forthcoming annual report.
[Follow Me For Micro Cap Stocks, General Finance News On Twitter]
Meanwhile work continues on a second plant which will be located in Jacksonville, Florida.
As work continues to get everything online, their Plastic2Oil® (“P2O®”) business operations are producing, with noted increases. The company reports that, "...total fuel production in the fourth quarter of 2012 increased over total amounts produced in the third quarter of 2012, and was greater than any other fiscal quarter in the Company’s history..."
The company began 2013 trading at $0.82 a share. Currently their stock is trading at $0.85. JBI Inc.'s stock spiked at the end of January trading at $1.48, but begin to heavily slide in February. The stock eventually leveled off at $0.82 on average beginning Feb. 11.
Further information can be found on their website.
Comments