Itec receives low-interest loan.

Itec Environmental Group Inc., Oakdale, Calif., has received approval for a $2 million tow-interest loan from the California Integrated Waste Management Board through the Recycle Market Development Zone Loan Program.

"We worked with the CIWMB for some time on this project. We are extremely pleased with the board's approval of the loan and consider the fact that this loan was approved after a prior $256,000 research grant from the CIWMB to develop the ECO2 Environmental System to be an exciting development," Gary De Laurentiis, president of Itec, says.

Laurentiis says that during the past 18 months, Itec has been testing its Eco2 System technology, which uses a environmental friendly co-solvent and carbon dioxide to clean post-consumer plastics, removing dirt, labels, glue and contaminants from the plastics.

"The test results proved that this state-of-the-art Eco2 System will produce a finished, odor-free product for 30 percent less than other systems," he says.

At full capacity, Itec believes the plant will produce roughly 6,000 pounds per hour of post-consumer PET beverage containers and HDPE used oil containers, employing approximately 48 production personnel.