This week’s Pitch o’ the Week company, Climax Global Energy, is a presenting company in the Entrepreneur Showcase at the Cleantech Group’s New York Forum, going on through today. The Entrepreneur Showcase provides capital-seeking cleantech innovators with 10 minutes to pitch top cleantech investors, financiers and corporate buyers.
The Fairfax, S.C.-based company coverts landfill-bound plastics into high value synthetic oil for the clean diesel, syn-lube and wax markets with its patented microwave-assisted pyrolysis process. There is about a $5 billion to $6 billion lube market opportunity in the United States alone, and a $3 billion wax market, according to CEO John Griffith.
Its pyrolysis process essentially cuts plastics (which are long chain polymers) into shorter chain polymers to make synthetic oil. Pyrolysis is a process in which a substance is heated in the absence of oxygen and typically occurs under pressure and at operating temperatures of more than 430°C (800°F), although Climax’s process runs near atmospheric pressure.
The company has a commercial-scale prototype in South Carolina with a 3-ton/day capacity, with plans to start construction of its next reactor train this year at the same location. Additional locations are to follow in South Carolina, New Jersey and other …