CBp Carbon Changes Name to Millennium Energy Corp.
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.
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.