CBD Global Sciences, Inc., dba Global Sciences Inc. (OTCPK:CBDNF) (CSE:CBDN) (Frankfurt:GS3.F) (Munich:GS3.MU) has signed into a binding letter of intent with Pure Vision Technology LLC for the acquisition of 100% of Pure BioPlastics Inc., a company in Ft. Lupton, Colorado.
With the acquisition of Pure BioPlastics Inc., the company will create a bio-based technologies division, run by Ed Lehrburger, who is a PBP founder and a principal of its parent company, PureVision Technology LLC. This new division will continue advancing solutions to the global environmental issues dealing with plastics.
Pure BioPlastics Inc. was initially established to scale up the CCR technology, to supply bio-based solutions to the destructive global dependence on oil-based plastics with a 100% bio-based pathway to produce plastics. After over 100 years of a petroleum-dominated economy and society, the PBP bio-based technologies are ready to be scaled up to transform readily available non-food biomass into bioplastic products.The principal breakthrough is the organization's patented continuous countercurrent reactor technology, where biomass is rapidly converted into pulp, lignin and sugars. These three raw materials are the starting materials to manufacture reusable, recyclable, and biodegradable plastics.
Different than today's current generation of bio-based plastics derived from GMO corn starch and other food-based sugars, CCR-derived bioplastics are created from non-food biomass such as hemp and corn stalks, switchgrass and wheat straw. The CCR technology is feedstock agnostic, able to process diverse biomass feedstocks into sugars and lignin to produce bioplastic intermediates. Unlike mixing hemp fibers or hemp resins into petroleum-based or recycled plastics; the end product of the PBP technologies is 100% bio-based plastic.
The patented CCR technology has been proven at the pilot plant with a 0.5-ton/day CCR. The company plans to finance the scale-up of the processing capability from 0.5 to 8-tons/day within 16-24 months.
Ultimately the company will develop a 60-ton CCR-based biorefinery, with expansion capabilities to launch the bio-based plastics manufacturing division.