Plastic2Oil, Inc. Executes Second Amendment to Master Agreement with Veridisyn Technologies, LLC
August 07, 2018 at 04:52 pm EDT
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On August 6, 2018, Plastic2Oil, Inc. executed a second amendment to master agreement with Veridisyn Technologies, LLC (the customer). The second amendment further amends that certain master agreement, dated December 21, 2017, by and between the company and the customer (as amended, the master agreement) by extending the date by which the customer must submit purchase orders for the first two processors from within 240 days of executing the Master Agreement to within 330 days of such execution. In addition, certain related time periods in the master agreement were extended accordingly.
Plastic2Oil, Inc. is a technology development and licensing company. The Company has developed technology, which converts waste plastic into ultra-clean, ultra-low sulfur fuel products through its plastic-to-oil (P2O) process. It has constructed various fully operational P2O processors to demonstrate its technology and process to potential customers. The Company provides its solutions through its processors and technologies. The Companyâs primary offering is its Plastic2Oil (P2O) solution, which is its process that converts waste plastic into fuel through a series of chemical reactions (P2O business). It is a combination of its own technologies and processes developed by P2O, which convert waste plastics into fuel. The Company has three processors at its Niagara Falls, NY facility. Its subsidiaries include Plastic2Oil of NY #1, LLC, Plastic2Oil (Canada) Inc., JBI RE#1, Inc. and Plastic2Oil RE ONE, Inc.
PLASTIC2OIL, INC. 