North Vancouver’s International Bio Recovery Corp. (TSX-V:IBR) announced Monday it restarted an organic waste recycling facility in North Vancouver that had been idled for years.
The facility was used as a research and development lab until seven months ago when IBR began refurbishing it.
The company did not indicate how much fertilizer would be produced at the plant, but said in a release it anticipates the facility will meet demand through the 2011 growing season.
Coinciding with the plant’s restart, IBR co-founder Ben Van Dyk said he was stepping down from the company’s board but provided no explanation.
Numerous members of the Van Dyk family founded the company 17 years ago.
Calls to the company were not returned by press time.
In May, IBR pulled a plant-operating license from one of its partners after that company – Boston’s Converted Organics Inc. – failed to keep the New Jersey-based facility operational.
IBR’s share price range during the last week: $0.07 to $0.08; 52-week high: $0.14; 52-week low: $0.02.