Speaking on Business: Renewlogy
Renewlogy has built innovative systems that convert plastic into diesel fuel for off-road use.
This is Chris Redgrave for Zions Bank Speaking on Business.
Priyanka Bakaya wants to increase our supply of oil without increased drilling. Her solution? Converting plastics into fuel. Only 9 percent of plastic wastes are recycled, with the majority going to landfills as garbage. In recent years plastic waste has increased significantly, so being able to make a useful product from something sent to landfills has been the driving force for her company, Renewlogy in Salt Lake City, operated in partnership with co-founder Benjamin Coates.
Renewlogy has built systems that convert plastic into diesel fuel. So, understanding that plastics are derived from petroleum to being with, the company has discovered how to reverse that process, using brand new technologies Priyanka and Benjamin figured out, with their innovative team. They found a way to automate the conversion process so it’s not as labor intensive, and this has helped them create a cost effective final product, that they have commercialized and are now offering specifically for waste companies. The process produces off-road diesel fuel.
The business model is to develop facilities providing this product around the world. Salt Lake City is the first and their next facility is in Canada, specifically Nova Scotia. In addition, Priyanka hired two of their biggest competitors at Renewlogy that have helped streamline the process and made a beautiful oil that’s commercially viable.
Find more online at www.renewlogy.com.
For Zions Bank, I’m Chris Redgrave, speaking on business.