JBI, Inc. has entered into an agreement with RockTenn Company to convert mill byproduct waste into fuel using JBI's Plastic2Oil technology.

Under the agreement, JBI has an exclusive 10-year license with a renewal option to build and operate Plastic2Oil processors at RockTenn facilities to process RockTenn's waste plastic at paper mills and Material Recovery Facilities (MRF) and to mine and process plastic from RockTenn's plastic-filled monofill sites.

RockTenn's paper mills and MRFs currently produce thousands of tons of plastic per day. To handle the plastic waste stream, RockTenn has been storing this byproduct in company-owned plastic-only monofill sites for several years. The agreement gives JBI the exclusive rights to mine plastic from these sites.

JBI's founder and CEO John Bordynuik says, "We are honored that RockTenn has chosen JBI to be its long-term partner in this venture and believe this provides further validation that we have a viable commercial process to handle not only the critical issue of waste byproduct but also rising energy costs. RockTenn has the industrial relationship and feedstock to support hundreds of Plastic2Oil processors. We anticipate a mutually beneficial relationship for both parties and intend to expand as quickly as possible. RockTenn currently has sites that can support clusters of processors. In preparation for this agreement, we have designed our processors to be modular 'plug and play' to allow rapid deployment across RockTenn's locations."

JBI's business principles are guided by environmental sustainability and a strategic model to cluster processors at single high-volume waste plastic sites. The company aims to create long-term shareholder value through joint venture partnerships with Fortune 500 companies