RES Polyflow CEO Statement on Status of Ashley Indiana Project

Posted by on Jan 4, 2017 in Project Spotlight | No Comments

The following statement from RES Polyflow CEO Jay Schabel was issued today:

“As noted in a news report published by the The Herald Republican on January 4, 2017, due to unstable pricing in the oil market throughout 2016, RES Polyflow is renegotiating the terms of the economic development loan made to the company by Steuben County to extend the terms and define the interest payment schedule. RES Polyflow has now gone out to market for financing our first commercial facility that is planned for the town of Ashley Indiana.  When secured, the financing will allow us to pay the $1MM Steuben County loan and see the project through to completion.”