12th Feb 2016 09:24
LONDON (Alliance News) - Environmental Recycling Technologies PLC on Friday welcomed the latest step in the development of its relationship with James Plastics' parent company, James Marine.
Environmental Recycling Technologies holds the patent rights to the powder impression moulding process, which allows the conversion of mixed waste plastics into commercially viable products.
The company said it has granted an exclusive licence to James Plastics LLC, for the manufacture and sale of rigid industrial matting and load bearing substrates for the industrial sector, and for products for the railroad industry, within the territory of the US.
Under the terms of the licence, James Plastics will pay an annual royalty, based on product sold.
According to Environmental Recycling Technologies, James Plastics has already invested in product research and development. The licensee has an order book for production, which is expected to commence imminently, with the first royalties paid to Environmental Recycling Technologies in this half of the current calendar year.
Shares in Environmental Recycling Technologies were up 5.1% at 0.0788 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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