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November 6 (Renewables Now) - San Francisco-based firm Brightmark Energy is looking for locations in the US for its next plastics recycling projects with plans to invest USD 500 million (EUR 450.2m) to USD 1 billion at each site.
The waste and energy development company is already building in Indiana the US’ first commercial-scale “plastics renewal” facility where it will be processing 100,000 tonnes of mixed plastics per year to produce ultra-low sulphur diesel, naphtha, and wax.
Brightmark wants to establish more such plants and is starting a nationwide site search. On November 19, it will launch a formal process to gather indication of interest submissions from interested communities. These must show strong local, regional, and state support through incentives and improved plastic recycling programmes. Other criteria include the availability of 30-100 acres of land with access to rail and highway, and access to no less than 200,000 tonnes per year of co-mingled plastic waste.
More details will be shared in the request for proposal (RfP), Brightmark said, adding that it expects to complete the site selection process in the second quarter of 2020.
In April, the company reached financial close for its first project, securing USD 260 million in financing. As part of the transaction, it became the controlling shareholder of RES Polyflow, the firm that developed the process for converting into useful products mixed plastics, including items that cannot readily be recycled, such as plastic film, flexible packing and styrofoam. In addition to fuels and wax, the process to be used at Brightmark Energy's plants can also create the building blocks for new plastics, thus enabling a circular economy in the plastics industry.
The Ashley, Indiana plastics renewal facility is expected to start producing fuels and wax in the second quarter of next year, and reach full capacity by the fourth quarter.
(USD 1 = EUR 0.9)