The initial operating base is in Thailand. This followed the acquisition by ECI of a wholly owned interest in a leading Thai engineering & technology development company which, subsequently, was renamed ECI (Thailand) Co., Ltd. (ECIT).

Potential for Growth in the Thai context
Ultimately, ECI Thailand plan to expand its fuel production capacity over coming years in line with a series of owner-operated mega pyrolysis plant facilities – all of which will comprise a key part of large-scale renewable energy JV projects to be established with both capital and technical input from our strategic partners. These pyrolysis plants will eventually collectively process at least 800 tons of waste plastic feedstock daily, sourced from Company run and/or contracted landfill sites and treatment depots scattered around Thailand.

The output from this activity will yield in excess of 600,000 litres of premium grade oil, each day. This ECI oil will then be blended in a mix with a lower grade (high sulphur content) diesel fuel, and further refined, via a hydrogenation plant process, to deliver around 1.0 million litres of high-value premium quality transport grade diesel and other value-add petroleum products - daily.

The revenue generation potential is enormous!

At current wholesale market pricing levels, the above fuel volumes would deliver to the JV Project owners a daily income stream in the order of USD 800,000. And, of course, with continued upward movement in the price of oil and fuels over time, the value contribution will increase proportionally.

Based on an estimated gross operating profit margin in the order of 60%, it is not inconceivable to contemplate an annual EBIT for JV consortium partners of over $175 million – with ECI taking a healthy cut! And all this before we factor in the added benefit of an 8 year company tax exemption within the Thai context.

In appreciation of a trend where ongoing price rises and more frequent spikes are likely to be the norm, consideration might also be given to the strategic stockpiling of our fuels in order to leverage additional upside as prevailing forces continue to drive the market north.

Given the estimated 7.5 million (plus) tons of historic waste earmarked to be at the disposal of the ECI Group in line with current and future planned Thai landfill site contract initiatives, more than 3.0 billion litres of oil could theoretically be recovered over time, using our proprietary pyrolysis technology. Furthermore, mixed fresh trash arrivals, on a daily basis to both landfill site and waste treatment depot facilities, deliver significant additional quantities of waste plastic suitable as a feedstock resource for the pyrolysis plant operations.

With control of all oil stocks forthcoming from JV programs and ECIT direct (sole owner) operations, plus access to a large volume downstream distillation capability, the Company expects (over the next several years) to have access to a very substantial and regular supply of transport grade diesel and other fuels for sale, and/or for use in line with its own electricity generation activities.

On the power generation front, ECI will be in a position to utilize each or either of the two fuel resources at its disposal – oil and gas. In the case of syngas, the Company can apply the product of gasification plant operations to drive banks of gas generators. Similarly, fuel inventories from pyrolysis plant operations are available to drive banks of diesel generators to produce electricity. The end product would be earmarked for direct sale to industrial clients and/or supply to the Thai power grid, with a price guarantee linked to a government introduced subsidy scheme in support of electricity providers.

And this is very much just the tip of the iceberg!