Fox Petroleum has signed a $7m letter of intent (LOI) with Pioneer Water Systems for a PET (water bottle) recycling line in Louisiana.

Pioneer’s patented water systems draw water from the atmosphere, precipitate the vapor and cleanse it with ultra violet light and ozone to produce a new source of drinking water.

Fox Petroleum said that the goal in this first initial development with Pioneer is to develop a completely circular recycling system for the community of Maraguin, Louisiana.

Immediate estimates have the project saving up to 500,000 metric tons of landfill space and up to 15 million dollars in waste costs.

Fox Petroleum is focused on acquiring, developing and operating plastic recycling operations throughout North America.