BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) and partner, Continuus Materials, signed a contract Project Development Agreement (“PDA”) with the Board of the Kent County Department of Public Works.
Under the terms of the PDA, the parties agreed to terms for a potential project under which an approximately US$280 million state-of-the-art Material Recovery Facility (MRF) converting solid waste to products, fertilizer, and renewable natural gas (RNG), would be built by Anaergia and Continuus Materials. The PDA indicates that the initial term of this agreement is to be for a period of twenty-five years from the start of operations.
As previously disclosed, the facility is expected to be a world-leading facility, achieving the County’s ambitious landfill diversion targets, while supporting its visionary sustainability goals and creating economic stimulus in West Michigan.
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets, Anaergia has built many successful plants, including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com
For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, Melissa.Bailey@Anaergia.com
For investor relations please contact: IR@Anaergia.com
Source: Anaergia, Inc.