BEVERLY HILLS, Calif., March 16, 2017 (GLOBE NEWSWIRE) -- SuperBox, Inc. (OTC:SBOX), a Beverly Hills based diversified holding company, today announced the signing of a Joint Venture agreement with PK Clean Technologies.
SuperBox, through its Environmental division, is partnering with PK Clean, a US cleantech developer of waste plastic to fuel technologies. SuperBox will acquire an 80% interest in an operating plant of PK Clean once it raises the total funds to double the size of an existing PK Clean plant to 20 Tons per day. PK Clean will own 20% and operate the plant under a management contract.
Robert Intile, VP of Business Development at SuperBox, said, "Joining forces with PK Clean benefits both companies, allowing for rapid expansion throughout North America." The American Chemistry Council estimates that the U.S. alone will sustain six hundred 30 ton per day plastic to fuel systems. SuperBox and PK Clean are committed to making this jointly owned plant the first of many together.
Priyanka Bakaya, CEO of PK Clean, added, “While PK Clean is in discussions to build plants for customers around the world, we are particularly excited that our relationship with SuperBox begins in our headquarters of Salt Lake City. The local city and the Governors’ office have been incredibly supportive of us for many years, and we look forward to reducing the amount of plastic waste that ends up in landfills in Utah and the Mountain West.”
About PK Clean Technologies, Inc.
PK Clean builds facilities that convert plastic waste into usable fuels such as diesel. PK Clean's process is sustainable, resulting in low-sulfur fuel, high-energy payback and zero toxic emissions. Its first operational facility has been successfully demonstrated in Salt Lake City, Utah, and the next facility is currently being built for a customer and will be deployed at the end of 2017. The company has been financed by Enhanced Capital, Salt Lake City Economic Development, Utah Governor’s Office of Economic Development, Steve Case’s Alps Investment Holdings and Lightspeed Ventures, as well as private money.
About SuperBox, Inc.
SuperBox, Inc. is a diversified, multi-national holding company with divisions in Environmental Services, Automotive, Technology, Security & Entertainment. The company is based in Beverly Hills, CA with offices in Vancouver, Canada. SuperBox, Inc. is publicly traded over-the-counter under the ticker symbol SBOX.
To learn more please visit www.superbox.net
Forward-Looking Statement:
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.