NORWALK, Conn., June 20, 2012 /PRNewswire/ –Â The Tirex Corporation (TXMC: OTCBB) – owner of a patented tire recyclingÂ technology, called the TCS System â€“ announced today that its joint venture agreement with Wyoming Corporate Headquarters LLC (WCH) of West Columbia, SC, to recycle scrap tires in Tennessee, announced in January 2012, remains in good standing.
“While the financing needed to support the conditions of tire collection and the installation of a TCS Sytem in Tennessee are still pending, we remain optimistic and will continue to pursue it with our partner WCH,” said Tirex President, John L. Threshie Jr.
“Tirex management also wanted to reassure its shareholders that its priority is to once again become current in its filings with the SEC. Â Furthermore, the investors currently negotiating with Tirex for North American and off shore TCS facilities recognize this necessity and are including it in the funding,” added Mr. Threshie.Â
Tirex’s TCS (Tirex Cryo System) process freezes scrap tire pieces with cold air â€“ as opposed to expensive liquid nitrogen â€“ and then “fractures” the rubber into granules in a patented “fracturing mill,” instead of cutting and shredding it.Â This process also separates the marketable strands of steel and fiber from the frozen ground rubber.Â Not involving any chemicals, combustion or expensive liquid nitrogen; the TCS technology represents an environmentally friendly, economically attractive “green” tire recycling system. Â For more information go to: www.tirex-tcs.com
WCH is a South Carolina based LLC that offers consulting services to small select groups of companies. Â WCH assists its clients’ research and development of new renewable energy products that are cutting edge in the green energy arena. Â They also locate the resources needed to take these new green products to the next level.
(The statements which are not historical facts contained in this news release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risksÂ associated with the uncertainty of future financialÂ results, additional financing requirements,Â development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company’s filings with the Securities and Exchange Commission.)
SOURCE The Tirex Corporation