Axion International Holdings Inc. (New Providence, N.J., USA), a next-generation technology firm that uses recycled plastic for high-load industrial products, on Jan. 28 announced that it has signed a Letter of Intent (LOI) with Innovative Composites International Inc. (ICI, Toronto, Ontario, Canada) to supply Axion’s patented thermoplastic material to ICI and its strategic partner, Universal Storage Containers LLC (USC, New Canaan, Conn., USA), for certain elements in the construction of state-of-the-art composite containers.
These composite containers are being developed jointly by ICI, which is
supplying the fiber-reinforced thermoplastic (FRT) outer panels for the
side walls, floor and ceiling, and USC, a privately held U.S. company
that is the exclusive marketer and distributor of the finished
containers, under the Z2-Box name. Axion’s patented thermoplastic
material will be specifically used for the structural components of
these containers, including flooring substructure, corner posts and
interphase connectors.“Axion’s thermoplastic material is a critical component of the Z2-Box design, supplying the high-load support structure of the containers while allowing for their relatively light-weight characteristics compared to steel or aluminum”
Over the last six months, USC has conducted extensive market research into what should be the next generation of containers for various industries and concluded that lightweight, environmentally friendly materials is what is needed in the future. The Z2-Box product line will be targeted for storage, moving and other related industries. The containers will be made of 100 percent recyclable materials that can be stacked three high, and each are engineered to support up to 10,000 lb/4,536 kg of uneven weight. Axion’s thermoplastic technology accounts for approximately 20 percent of the container’s total weight. ICI’s expects to supply projected annual quantities approximating $8 million to USC, which includes both ICI’s fiber reinforced paneling and Axion’s structural components.