In theory, not only would PET plastic break down into an oil under heat but the resulting oil would also meet PTOI's tagline of "...converts waste plastic into fuel, without the need of further refinement."
As would thermally decomposing tires, paper and any other regular, burnable solid waste into oils. Other than misleading suggestion, PTOI never disclosed a good use for their "fuel" so whether it needs further refinement or not is arbitrary. Simply shredding plastic creates a "fuel" without the need of further refinement.
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Plastic2Oil, Inc. (PTOI) Stock Research Links
Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.