SOURCE: Covanta

Covanta

March 04, 2014 09:00 ET

Covanta Announces First Organics Recycling Agreement in Connecticut With Lake Compounce Theme Park

Energy-from-Waste Innovator to Provide Services to North America's Oldest, Continuously-Operated Amusement Park

BRISTOL, CT--(Marketwired - Mar 4, 2014) - Covanta (NYSE: CVA), a world leader in sustainable waste management and renewable energy, today announced a new organics waste agreement with the Lake Compounce theme park in Bristol, Connecticut, the oldest, continuously-operating amusement park in North America. This is Covanta's first organics agreement in Connecticut since announcing its partnership with Turning Earth LLC to provide organics recycling for the state.

"We've made great investments in recent years to make Lake Compounce the premier destination for family entertainment and amusement," said Jerry Brick, General Manager, Lake Compounce. "This partnership with Covanta is a great fit to further our commitment to sustainability and the environment. We're aiming to build a safer, greener park and Covanta can help us achieve these goals. We also look forward to working closely with Covanta on expanding our partnership to include other sustainable waste solutions."

As part of the three-year agreement, organic waste from Lake Compounce will be processed at a new organics recycling facility to be built by Turning Earth in Central Connecticut. Covanta will provide education and training for Lake Compounce employees in the proper methods for source-separating organics.

"Covanta's organics partnerships are expressly designed to supply organics recycling services to commercial and municipal customers that are looking to develop comprehensive, sustainable waste management plans," commented Stephen Diaz, Covanta's vice president of strategic services. "As a champion and advocate of environmental awareness and sustainability on both the individual and corporate levels, we are thrilled to support Lake Compounce in its sustainability endeavors."

Organics recycling, like Energy-from-Waste facilities, plays an important role in reducing greenhouse gases. When organic waste decomposes in a landfill, it releases methane into the environment. Reducing and avoiding methane emissions from landfills, which are the third largest source of methane in the U.S., is one of the best ways to achieve a near-term beneficial impact in mitigating global climate change.

About Covanta
Covanta is a world leader in providing sustainable waste and energy solutions. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with environmentally sound solid waste disposal by using waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into clean, renewable electricity to power one million homes and recycle over 440,000 tons of metal. Energy-from-Waste facilities reduce greenhouse gases, complement recycling and are a critical component to sustainable solid waste management. For more information, visit www.covanta.com.

About Lake Compounce
Lake Compounce, part of the Palace Entertainment family of parks and New England's premier family theme park opens May 10th for the 2014 season. Home to Crocodile Cove, the largest water park in Connecticut, Lake Compounce is also preparing to open Bear Creek Campground Summer 2014. Celebrating its 168th season, Lake Compounce is the oldest continuously operating amusement park in North America. Platinum Season Passes are currently on sale for the 2014 season for $74.99. More information and the park's operating schedule can be found at lakecompounce.com.

About Palace Entertainment
Palace Entertainment owns and operates 37 theme parks, water parks and family entertainment centers nationwide, including Kennywood, Idlewild and Story Land on the east coast. The company entertains millions of guests annually and is one of the largest park operators in the US. For more information, visit palaceentertainment.com.