The successful third party testing of toxic incinerator bottom ash (IBA) treatment technology continued to stimulate interest in Pioneer Exploration (OTC: PIEX), resulting in a 20% rally on a volume exponentially higher than the three-month average. Gone are those days when rapid industrialization was welcome, even at the cost of an environmental hazard. Ecological issues take predominance all over the world and any successful measure developed to conserve nature gets noticed, appreciated and rewarded with immediate effect. The stock market has a canny way of applauding such greener technologies by commencing a high-volume rally.
On September 11, 2012, IBA Green, a wholly owned subsidiary of Pioneer Exploration, announced that an independent third party testing of its technology to treat toxic incinerator bottom ash (IBA) was conducted and successfully confirmed to meet acceptable Environmental Protection Agency (EPA) standards.
The EPA has proposed a regulation that would designate IBA as a hazardous material. The guideline will be a part of the of the Federal Highway Bill legislation. If ratified, the regulation will prohibit the use of IBA as an additive to concrete and construction materials. Energy and construction companies, however, wish to enact a provision to the legislation barring the EPA from enacting such a restriction. In this regard, IBA Green developed a process to treat and convert IBA into feasible and environmentally responsible construction materials. IBA is the residue from burning coal or solid waste. The patented technology, specifically developed to address coal ash and IBA, converts the toxic end products to greener construction materials.
An independent third party verified IBA Green’s technology. The verification process involved treating a specific IBA sample. The solidified end product yielded extractable metal content which was compliant with the laws of safe disposal in the U.S. and other countries. Commenting on the product, Angelo Scola, Chairman of the Board of IBA Green said, “The treated IBA can produce a geopolymer concrete that not only meets all EPA and ASTM standards, but also makes a concrete that is far stronger and lasts twice as long as concrete used today in the building of highways and bridges.”
Pioneer Exploration also has plans to offer thermal concretes, fluidized thermal backfill, thermal grouts, structural concretes and fly ash polymer concretes. A week prior, the market turned its attention towards the counter when the announcement of a successful testing of technology came in. With around 600 coal burning and 85 waste-to-energy electric power plants across the U.S., the market was quick to understand the math behind the product. From an average of a mere 916 shares, the volume has risen to over 100,000 shares.
Pioneer Exploration ended the day at $0.72 per share, up 20% or $0.12, on a volume of 237,412 shares.