LAFAYETTE, Ind., Nov. 24, 2010 (GLOBE NEWSWIRE) -- Ultimate Sports, Inc. (Pink Sheets:USPS), a manufacturer and supplier to the recreational vehicle industry, released a statement today detailing another product of the Tire Converter, carbon black. The company has entered into a joint venture with EnSol to fund this innovative system. In return for the investment capital, USI will receive equity and a share of the profit of the joint venture.
Of all the waste products known, the most expensive is a truck tire. In the United States alone, 300 million tires are thrown away each year. These castoffs are a huge source of automotive-related pollution; the average used tire weighs 22.5 pounds and contains about two gallons of fuel, as well as other combustible carbon compounds.
EnSol's Tire Converter is a unit that will transform tires into carbon black, oil, gas, and petroleum solvents. The first unit will be designed specifically to process tire chips. The tire chips will produce gas, carbon black and solvent. The converter unit has been designed to process six tons of scrap tires per day.
In 2000, the total value of the carbon black industry shipments was $1.07 billion; an increase from $949 million in 1999. (Source: www.business.highbeam.com/industry-reports/chemicals/carbon-black). World demand for carbon black is forecast to rise 4.3% annually through 2013. (Source: www.freedoniagroup.com/world-carbon-black.html)
Robert Matthews of EnSol states, "Each ton of truck tire feed stock produces approximately 900 lb of carbon black. Carbon black can be sold for about $2-3 per pound. Therefore, one ton of "chipped" tires will produce approximately $2,250 worth of carbon black. Six tons of tires per day can produce about $13,500 of revenue per day. Carbon black can be used to create extruder plastics, paint pigment, rubber manufacturing and filtration mechanisms, and even batteries."
For more information about the company, please visit www.usi-skis.com.
About Ultimate Sports, Inc.:
Ultimate Sports specializes in every item, large and small, that snowmobilers need in order to enjoy the sport and improve their performance—especially snowmobile skis of all types. We have an extensive inventory of carbide studs, mount kits, wear bars, suspension parts, snow flaps, alignment bars, and so much more. Visit www.usi-skis.com for more information.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.