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
Companies & Associations

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

PolyOne launches Geon BIO PVC using soy-based materials

April 24, 2015 11:48 am ET

More than a decade of research is paying off for Battelle Memorial Institute in the form of Geon BIO PVC compounds from PolyOne Corp.    More

Image

California may require more recycled content in bottles

April 24, 2015 11:16 am ET

California lawmakers are considering a pair of bills that would bump up the required recycled content in plastic bottles for beverage companies to...    More

Image

KHS cuts packaging with direct printing on PET bottles, adhesive multi-packs

April 23, 2015 1:39 pm ET

KHS GmbH has been pouring a lot of time into solving issues related to direct printing on PET bottles, and after eight years of work, everyone...    More

Image

DuPont center in India gets LEED Certification

April 23, 2015 1:07 pm ET

DuPont Co.'s Knowledge Center in Hyderabad, India, was awarded LEED certification by the U.S. Green Building Council.    More

Image

MeadWestvaco joins the Recycling Partnership

April 23, 2015 11:19 am ET

MeadWestvaco Corp., a global packaging company with some operations in plastics, is joining the Recycling Partnership.    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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

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

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events