Vadxx Energy, headquartered in Cleveland, has announced it has closed on the financing for its first commercial-scale, plastic-waste-to-energy facility. The company’s first unit will be built in Akron, Ohio, and is scheduled to come online in early 2015. The regional operation will recycle roughly 60 tons per day of waste plastics.
The global private equity firm Liberation Capital, Charlotte, N.C., has entered into an agreement with Vadxx to fund the first unit as well as additional commercial units. The procurement and construction contractor for the facility will be Rockwell Automation.
"Vadxx is focused on implementing our first commercial unit in Akron successfully, as an important first step toward global expansion,” says Jim Garrett, Vadxx CEO. “Liberation Capital, Rockwell Automation, feedstock suppliers and other partners will play key roles in our growth and success.”
The company has been operating a much smaller pilot facility for several years as it worked through the equipment and design process.
In the above photo,Russell Cooper of Vadxx displays chopped medical waste suited for processing into oil. The chart behind him outlines the product flow.