Empire Diversified Energy’s West Virginia waste recycling plant secures $40m financing
Empire Diversified Energy announced a significant milestone as its subsidiary, Empire Green Generation closed a financing deal worth $40 million for its proposed waste recycling plant in West Virginia.
The financing was secured through the sale of Solid Waste Disposal Facilities Revenue Bonds (Empire Green Generation, LLC Project) Series 2023 in collaboration with the West Virginia Economic Development Authority. The funds will be utilized to complete the construction of an advanced recycling plant located at the ‘Port of West Virginia’ in Follansbee.
The primary objective of the waste recycling plant is to transform plastics and other recyclable waste products into renewable electricity, benefiting both the port and its surrounding area. The plant will employ cutting-edge pyrolysis technologies known for their high efficiency and state-of-the-art capabilities.
To support its operations, the waste recycling facility will comprise a newly constructed 30,000 square foot all-weather building designed to house the pyrolysis equipment. Additionally, a repurposed 20,000 square foot structure will be utilized for feedstock storage, further enhancing the plant’s functionality.
The waste recycling project represents a significant step forward in Empire Green Generation’s commitment to sustainability and environmental stewardship. By leveraging innovative technologies and recycling processes, the plant will contribute to the reduction of waste and the generation of clean, renewable electricity for the region. It is expected to have a positive impact on the local economy by creating employment opportunities and supporting the growth of a circular economy.
With construction now poised to move forward, the Empire Green Generation recycling plant at the ‘Port of West Virginia’ is set to become a beacon of environmental innovation, setting an example for responsible waste management and promoting the adoption of renewable energy sources.
Frank Rosso — Empire Diversified Energy CEO said: “We are very pleased to bring this cutting-edge technology to the State of West Virginia and are committed to our efforts of environmentally friendly and economically sustainable growth at the Port of West Virginia.
“We believe Empire Green Generation will be an industry leader in waste-to-energy recycling and are excited about its future. We thank our entire Empire team, the West Virginia Economic Development Authority, and our lenders for their continual support through our growth in a very difficult market; we will continue to provide Stakeholders with updates as the plant comes online.”