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Bloomberg
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Korean Companies Plan More US Investment Pledges, Hankyoreh Says
South Korea is set to unveil about $150 billion in US investment plans by private companies during a summit between President Lee Jae Myung and US President Donald Trump, the Hankyoreh newspaper reported Thursday. The pledge is likely to include both ongoing and future projects and will be separate from the $350 billion South Korea agreed to invest in the US as part of a trade agreement struck last month.
CBS News
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Bay Area company holds open-house to ease concerns about plastics recycling
A Bay Area company is focused on recycling plastics, but with its facility near a school, some residents are concerned, which is why the company had an open house for the community. Resynergi Co-founder Brian Bauer said the technology, first developed out of his garage, is ready to recycle the mounds of plastic stored in the facility. "This is non-hazardous medical waste like the blanket you might get before your doctor's appointment," said Bauer. It's those kinds of plastic, including garbage bags that are not allowed in blue bins, that Bauer says can be "recycled" using its patented technology, called Continuous Microwave Assisted Pyrolysis. "By heating without oxygen, so there's no burning, there's no incineration. It breaks those molecules down into short chains, and the gas, and when it goes into a cooler, it cools into a liquid. That liquid is a lot like crude oil," said Bauer. Resynergi claims this process reduces carbon emissions by 68% compared to conventional plastic production. "They take that crude oil, we sell it to petro-chemical companies, and they remake virgin plastic," said Bauer. Bauer said emissions from their recycling "modules" are equivalent to a semi-truck. Resynegi is holding an open-house event, letting Rohnert Park residents tour the facilities. Many neighbors are skeptical, concerned about the possibility of explosions and fire, or air and ground contamination. "There's families all around us in Rohnert Park, and there's a high school here. I just don't want any leaks," said Rohnert Park resident Martha Louvar. Others are more open as long as strict air quality inspections take place, acknowledging it's difficult to understand the intricacies of chemical recycling. "People are concerned because we don't understand it, and it's beyond our normal understanding so there's normal fears. It's normal to be scared and for people to be afraid. But to find a solution, I think it's worth trying anything," said Rohnert Park resident Katie Kuruliak. Justin Flake lives in the neighborhood and is a parent of a student at Credo High School, whose campus is about 500 feet from the Resynergi site. Flake is one of about 5,000 people who signed a petition calling on Resynergi to shut down its operation. "We don't want to be guinea pigs. We don't know why it needs to be right in the middle of a residential neighborhood," said Flake. City Council member Susan Adams said flyers delivered to homes and social media posts with pictures of factory smokestacks are misleading residents. "There's no black smoke coming out of anywhere. I live in this community. I was raised in this community. If they were doing damage to the environment right here at this shop, I would be in the front of the line trying to stop them," said Adams. Bauer is waiting for the Bay Area Air Quality Management District to issue a permit that would allow Resynergi to operate its reactors five times a day, and move closer to its ultimate goal of national expansion, recycling plastics at a higher rate. A 30-day public comment period was initially scheduled to end on Aug. 18. The Bay Area Air Quality Management District has extended the deadline to Oct. 3. Resynergi said it plans to operate soon after air quality authorities green-light a permit. The Bay Area Air Quality Management District declined an interview request but issued this statement, saying in part," We are committed to hearing from the community about this project. If the Air District approves the proposed permit after the close of the comment period, the project would then be subject to all of the conditions outlined in the permit itself." "Any permit issued would include enforceable requirements to ensure the facility operates within all applicable air quality rules and protects public health. The Air District regularly inspects and monitors facilities throughout the Bay Area to ensure compliance with air quality regulations."
Bloomberg
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Troubling US Housing Outlook Extends James Hardie Stock Slump
James Hardie Industries Plc shares plummeted for a second day, with analysts rushing to cut their price targets after disappointing earnings results and concerns over the US housing market. The Australian building materials maker dropped as much as 10% in Sydney on Thursday after a slew of brokers trimmed their share-price expectations. The stock tumbled 28% on Wednesday, the most since November 1973, after the company's quarterly profit sank and it warned demand for repairs and new construction in North America remains challenging. Its US-listed shares plunged 34%.
