I have no firsthand knowledge but get the impression that the technology could not be scaled up to the levels needed. Too many companies have looked at it and passed. In addition all the joint venture opportunities were probably just smoke and mirrors, for instance the tire recycling facilities they were supposed to build with JV partners ECO Energy, Phoenix Renewable Energy and Envirotech Industries. None of which got off the ground. The press release about the carbon black byproduct didn't amount to anything either. Even the primary byproduct, the oil, was eventually and quietly dropped as a source of revenue that could be generated from the machine.

If their other JV with Schlumberger couldn't make it work in the heavy oil application, it probably isn't feasable.