CHICAGO (Sept. 8, 12:45 p.m. EDT) — ReSyk Inc. wants to license its recycling technology for the European market.
Based in Brigham City, Utah, ReSyk developed a patented technology that can turn mixed plastic contaminated with oils, metals and other materials back into simple, functional products ranging from garden tiles to garbage can wheels.
While the company started selling the technology in the United States in 2001, company executives said at NPE 2003 in Chicago that they want to reach out internationally. The company has applied for patents at the European Commission, and in Mexico, Canada, Australia and several Asian countries, including China and Japan.
The company is seeing interest from customers that want to sell internationally, including Archer Technologies International in Shawnee, Okla., which wants to make plastic pallets for the Department of Defense, said Chris Brough, ReSyk's chief operating officer.
“My gut feeling is we are going to be very, very active in Europe in the near future,” said David Little, chief executive officer of Re-Syk. “Our tentative plan is we will franchise this in other countries.”
ReSyk is a spinoff of Rotational Molding of Utah, which originally explored the technology in the early 1990s as a way to recycle cross-linked polyethylene.
To date, ReSyk has signed licensing agreements with five firms in the United States, including three that currently are using the technology. It also is talking with a firm that wants to recycle automobile parts in Mexico.
The company uses patented chemistry to bond diverse plastics and other materials together, and then molds them using a modified compression molding technology. Little said the company is looking to develop modified injection molding and extrusion processes.
The process is not designed for use with high-performance applications, Brough said.
Little said ReSyk and Rotational Molding of Utah together employ more than 40 and have annual sales of less than $10 million. He said rotomolding accounts for about $5 million in sales.