FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE Amex: FSI, FRANKFURT: FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and crop nutrient availability chemistry, as well as biodegradable and environmentally safe water and energy conservation technologies. Today FSI is pleased to announce that the Taber Alberta, aspartic acid from sugar plant has reached commercial operating status.
We are satisfied that the process is economic at the planned volumes using the specified equipment. The next step is to increase production at the new plant. Production ramp up is expected to take several months given this process is a bio-chemical process as well as a first of its kind in the world.
Scale-up will increase at a rate coincident with training staff, maintaining quality and safety, ensuring economic yield, solving any potential unknown problems and streamlining volume growth. As a result some capital expenditure will be required as volume ramps up. Working capital and existing bank lines will be used to finance this growth. Capital requirements are not expected to be large enough to require any equity financing.
Per normal disclosure requirements management will advise the market of any major setback, but for competitive reasons we will not be disclosing any details of production or production volumes. When the decision is made to expand production beyond the name-plate 5,000 metric tons per year, we will announce the expansion.Mr. Dan O’Brien, CEO, states, “Because this is a “first of its kind” process not only has this project been a difficult one, it has taken far more time than initially expected. Our team in Taber was asked to be very flexible as the project advanced and I am proud that whenever new responsibilities arose, the FS team embraced them.” Mr. O’Brien continues, “As production from Taber ramps up, the sustainably derived aspartic acid will be used by our Illinois plant to manufacture a sustainable and biodegradable brand of our poly-aspartic acid [TPA] trademarked Aspure™. Aspure™ will be marketed first to customers who require a sustainable product and although FSI faces significant growth in demand for TPA, output from the Taber plant will continue to be expanded so that most of our aspartic acid is derived from sugar rather than oil.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV