TORONTO and BEIT SHEAN,
Israel, Aug. 31, 2021 /CNW/ - K.B. Recycling Industries
Ltd., conducting business as Alkemy ("Alkemy" or, the
"Company") (TSXV: AKMY) (TSXV: AKMY.WT), an innovative
plastics recycling company, today announced a consulting
agreement with RAM.ON consult GmbH (conducting business as
Oceansix) – a spin-off company of the German-based Cabka Group,
majority owned by Mr. Gat Ramon one of Europe's leading plastics recycling experts.
Through this agreement, Oceansix will assist Alkemy to enter into
and expand in the European market.
Alkemy developed an innovative one-step plastic bag recycling
process, that is eco-friendly and profitable. As part of the
agreement Oceansix will assist Alkemy in introducing Alkemy to
potential European customers, provide market analyses, potential
location for the future production sites, and advise on research
and development and future products and recycling processes.
Oceansix is wholly owned by Mr. Gat Ramon. Mr. Ramon founded
Cabka Group in 1993, leading it to become one of the prominent
recycling corporations in Europe
and globally, focusing on technologies for processing of
post-consumer plastics and development of product solutions from
recovered materials.
According to Shmulik Porre,
Alkemy's CEO, "Our goal is to continue our growth
trajectory. As we plan to expand into key European markets, we
are thrilled that Oceansix, owned by one of the most sought-after
global experts in plastics recycling technology has chosen assist
us on our journey. We expect to keep initiating new innovative
ideas and provide the European market with innovating solutions to
plastic bag waste."
About Alkemy (K.B. Recycling Industries Ltd.)
Alkemy
is an environmental technology company based in Israel that has developed a unique plastic
recycling process for plastic bags and sheets traditionally not
considered economically viable for recycling. Alkemy employs a
dynamic one-step process that does not require separate recycling
and production plants. Alkemy's process includes both recycling and
finished product manufacturing in a single process called
"waste-to-product", allowing Alkemy to reduce the cost of the
recycled plastic as raw materials, and increase the profit margin
per metric ton.
Forward-Looking Information
This press release
contains "forward-looking information" and "forward-looking
statements" (collectively, "forward-looking information") within
the meaning of applicable securities laws. Forward-looking
information may relate to the Company's future financial outlook
and anticipated events or results and may include information
regarding the Company's financial position, business strategy,
growth strategies, addressable markets, budgets, operations,
financial results, taxes, dividend policy, plans and objectives.
Particularly, information regarding the Company's expectations of
future results, performance, achievements, prospects or
opportunities or the markets in which the Company operates is
forward-looking information. In some cases, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "targets", "expects", "budgets",
"scheduled", "estimates", "outlook", "forecasts", "projects",
"prospects", "strategy", "intends", "anticipates", "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", or
"will" occur. In addition, any statements that refer to
expectations, intentions, projections or other characterizations of
future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's expectations,
estimates and projections regarding future events or
circumstances.
Forward-looking information is necessarily based on a number of
opinions, estimates and assumptions that, while considered by the
Company to be appropriate and reasonable as of the date of this
press release, are subject to known and unknown risks,
uncertainties, assumptions and other factors that may cause the
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking information, including but not limited to, risks
and uncertainties associated with market conditions and the
satisfaction of all applicable regulatory requirements, as well as
risks and uncertainties associated with the Company's business.
If any of these risks or uncertainties materialize, or if the
opinions, estimates or assumptions underlying forward-looking
information prove incorrect, actual results or future events might
vary materially from those anticipated in such forward-looking
information. The opinions, estimates or assumptions referred to
above and the risk factors described in the "Risk Factors" section
of the Management's Discussion and Analysis of the Company dated
April 30, 2021 should be considered
carefully.
Although the Company has attempted to identify important risk
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
risk factors not presently known to the Company that could also
cause actual results or future events to differ materially from
those expressed in such forward-looking information. There can be
no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
disclaims any intention or obligation or undertaking to update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required under
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE K.B. Recycling Industries Ltd.