Vadxx closes financing for plant to turn plastic waste into energy

CRAIN’S CLEVELAND BUSINESS

Published: January 13, 2014 4:59 pm ET
Updated: January 13, 2014 5:01 pm ET

Related to this story

Topics Sustainability, Recycling

Vadxx Energy said it has closed on financing for its first commercial-scale plant to turn plastic waste into energy.

Vadxx said Liberation Capital, a private equity firm, has entered into an agreement with Vadxx to fund the first unit and additional commercial units. However, the company did not disclose details about the amount of money Liberation is putting behind the effort.

Vadxx said Rockwell Automation is the procurement and construction contractor and will manufacture and commission the plant.

The company said the first unit will be built in Akron and is scheduled to come on line in early 2015. Vadxx said the regional operation will recycle almost 60 tons per day of waste plastics, diverting them from landfill disposal.

Vadxx has operated a 1/50th scale pilot plant for several years. The company said it has received support from Northeast Ohio economic development entities and the state of Ohio.

"Vadxx is focused on implementing our first commercial unit in Akron successfully as an important first step toward global expansion," said Jim Garrett, Vadxx CEO.


Comments

Vadxx closes financing for plant to turn plastic waste into energy

CRAIN’S CLEVELAND BUSINESS

Published: January 13, 2014 4:59 pm ET
Updated: January 13, 2014 5:01 pm ET

Post Your Comments


Back to story


More stories

Image

Teknor Apex expands production of recycled nylon to Europe

October 29, 2014 10:12 am ET

Materials firm Teknor Apex Co. is making its recycled nylon compounds available in Europe for the first time.    More

Image

Trex sets quarterly sales record with more business on tap

October 28, 2014 1:09 pm ET

Composite deck maker Trex Co. Inc. set sales and earnings records for the third quarter of 2014 and is on track to see revenue reach $388 million for ...    More

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

German export sales strong, push for energy savings continues

October 24, 2014 12:34 pm ET

Germany is the engine that drives the European economy — and when it comes to the plastics industry, German machinery is a potent force, an...    More

Image

Packaging specialist Amcor hits sustainability goals ahead of schedule

October 23, 2014 11:15 am ET

Global packaging company Amcor Ltd. has achieved its waste reduction goals two years ahead of schedule, according to the company's new sustainability ...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events