Raleigh-based PRTI Inc., (Product Recovery Technology International) which has a cost-effective technology for turning rubber and tire waste into gas, steel, oil and carbon products, has raised nearly $3 million of a $10 million equity offering, according to a regulatory filing. The company’s process reduces long chain polymers into their basic elements, yielding the original components as recyclable materials for sale in the marketplace

The company’s web site says its low temperature process has been developed over the last nine years in a production environment.

According to a filing with the U.S. Securities and Exchange Commission, the company raised $2,772,369 of a $10,000,000 equity offering from 24 investors.

The company raised $388,000 of a $500,000 equity offering in February, 2014, according to a previous SEC filing.

“The PRTI system operates below all EPA emissions limits, is completely sealed and emits no waste bi-products or hazardous vapors. This makes it suitable for use anywhere, even in populated areas.

PRTI’s system routinely processes up to 36 tons of scrap tires per day which significantly increases the quantity of tires handled at a single site,” according to the company.

The PRTI depolymerization process is concerned with reducing tires down to their original building blocks which include oil, steel and carbon black.

For more see: http://www.prti.us.com/index.html

The U.S. Securities and Exchange Commission filing is here: http://www.sec.gov/Archives/edgar/data/1599423/000159942315000001/xslFormDX01/primary_doc.xml