CBp Carbon Industries (called here CBp Carbon Green, Inc.) has changed its name and business.
Millennium Energy Corp. (OTCBB: MLME) (the “Company”) (formerly CBp Carbon Green, Inc.) is pleased to announce that it has changed its name to Millennium Energy Corp. effective March 26, 2008. The name change will better reflect the change of business direction from an intended pyrolysis technology license to uranium exploration.
How’s that for a change in strategic direction?
For those unfamiliar with CBp, I wrote about them previously here. They offer a tire pyrolysis process that is claimed to yield usable carbon black, which the company markets under the name CBp Green Carbon.
From their website:
This patented technology converts the by-products of tyre pyrolysis (heating in the absence of oxygen) into a nano-particle compound (CBp.), that is a competitive substitute for commercial carbon black, and a clean-burning gas that can be used to generate electricity.
Last month, CBp Carbon Industries announced that it was expanding an existing tire recycling plant in Hungary and building a new facility in Cyprus for start-up in August 2008. The announcement raised a few eyebrows in the carbon black industry with these statements:
Carbon black is presently priced on world markets at approximately $1600 per tonne (depending on the grade), having risen over the last few years from prices of about $300 per tonne. CBp is presently pricing its CBp Carbon Green at $1200 per tonne.
I don’t know where these “world markets” are, but no one is getting $1,600 per tonne for rubber blacks.
It is not yet clear if or how the announced change will affect these expansion projects. I am waiting to hear back from management. More to come.
Here is the press release on the name change.
Here is CBp Carbon Industries’ OTC listing.
Here is CBp Carbon’s website.
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Update: According to this Form 10QSB for MILLENNIUM ENERGY CORP., the name change from CBp Carbon Industries, Inc. to Millennium Energy Corp. was related to a licensing dispute with a US-based company and had no effect on CBp Carbon Industries, Inc., which is based in Bratislava, Slovakia. I regret the error.
From the Form 10QSB
However, in November of 2007, we had a change of control of the Company and expected to change the business direction of the Company from interactive English language training courses to receiving a license of pyrolysis technology from Ariana Intervest Ltd., which technology had been licensed by CBp Carbon Industries, Inc. (a non-related company) under previous agreement with the patent holder. However, CBp Carbon Industries, Inc. later advised that it did not consent to the license of the pyrolysis technology from Ariana Intervest Ltd. to the Company and did not permit the use of the CBp name by the Company. Therefore, in March of 2008, the Company effected a name change to Millennium Energy Corp. in order to more closely reflect the new business direction of the Company, which is uranium exploration.
Dear Sir/Madam,
Pleae get in touch with me re your inacurate statement of facts and some information re CBp. For example, we did niot change our name…its still CBpCarbon…..Other facts are different than the reality too.
I dont have a record of anyone contacting myself or the company to chat, but would be more gthan happy tospeak to people from your organization.
Kind regards,
John Novak
President
CBp Carbon Industries Inc.
Comment by john novak — February 15, 2009 @ 12:21 pm
See Breaking News http://www.cbpcarbon.com for more name game
Comment by John Fader — December 8, 2009 @ 12:47 pm
More name game… is an understatement – these jokers make it a professional hobby to fleece investors of their cash, they are the same stock promoters that take anything they can and call it their own.
Even CBp’s previous Director of Technology and original inventor of the carbon technology has stated in his law suit “Mr. Fader’s writ alleges, among other things, “breach of trust” and the “unlawful use of Petitioner’s name and reputation”. “I resigned from my company because of what I considered to be gross mismanagement of the business by its President John Novak, and a disturbing lack of proper corporate governance and transparency; and, because after four years, selection by the EU, and shareholder investment of approximately USD $60 million, my proven technology has still not yet been successfully commercialized,” Mr. Fader said.
It’s a complete scam, Novak’s new website says, $75M US invested…on what?
The main processor comes from an off-the-shelf rotary kiln company that anyone can get, along with low grade shredders. The entire plant all in, turn-key, cost less than €9 million Euro excluding land & infrastructure. That leaves $65M US, okay lets be generous and say with land developments and a demo pilot plant first, to prove you can process carbon, another $15M US was needed – what happened to the other $50M US?
A complete evaporation of investor’s capital, follow the money. It’s people like this that make me sick and ruin a good industry.
Roger
Comment by Roger Waters — December 16, 2010 @ 2:08 am
Well, the Cyprus facility is now closed for over a year. It’s now just as good as collecting dust. All trained personnel was fired. It seems that those $ 65 M just disappeared. Carbon Green Inc was purchased by Hunt Global Resources. It was a smart move for Mr. Novak and a stupid one for Hunt Global.
Comment by Cyprus Carbon Recycling — March 31, 2013 @ 5:30 am