WATERBURY, CT--(Marketwired - Jun 27, 2013) - Covanta Energy Corporation (NYSE: CVA), a world leader in sustainable waste management and renewable energy, today announced a new agreement with the City of Waterbury for sustainable waste management services. Covanta is the largest owner and operator of Energy-from-Waste facilities in North America and the owner/operator of three facilities in Connecticut -- Covanta Projects of Wallingford, Covanta Bristol and Covanta SECONN in Preston.
Covanta will provide sustainable disposal of the City's 40,000 tons of municipal solid waste at the Covanta Bristol Energy-from-Waste facility, in addition to handling 5,000 tons of recyclables. By bundling services, municipalities like Waterbury are able to save money on disposal costs and get credit back in the form of a rebate for recycling. The new five-year agreement is slated to begin July 1, 2013.
"After a considerable amount of due diligence and negotiation, we are confident that Covanta will be an excellent partner and service provider to the City of Waterbury. The new agreement saves taxpayers at least $2 million and we will be handling our waste in a sustainable manner by utilizing Covanta's Energy-from-Waste facilities and recycling services instead of landfilling," said Waterbury Mayor Neil M. O'Leary. "We make these decisions with our taxpayers' best interest in mind. The critical importance of these value-added services cannot be overstated."
Since the end of 2011, Covanta has added a number of new partner municipalities in Connecticut including East Hartford, Enfield, Guilford, Madison, Newington, Southbury, Vernon, West Hartford and Windsor Locks.
"We commend Mayor O'Leary and his team for their hard work to reach the best deal possible for their constituents. As the sustainable waste management leader in Connecticut, Covanta is proud to be able to now provide our services to the City of Waterbury, a well-respected and leading city in Connecticut. We look forward to a long and mutually-beneficial partnership," commented Steve Diaz, vice president and regional business manager for Covanta.
As part of the agreement, Covanta and Waterbury have agreed to establish an educational outreach program for the citizens of Waterbury which will cover a variety of projects including recycling education and hazardous household waste collections.
Covanta's Energy-from-Waste facilities provide Connecticut communities with an environmentally superior alternative to landfilling their municipal solid waste, generating clean, renewable energy for more than 34,000 homes in the state and recycling enough metal to build more than 12,000 automobiles annually.
Covanta Energy Corporation is an internationally recognized owner and operator of Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. Covanta's 44 Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid 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 9 million megawatt hours of clean renewable electricity and approximately 9 billion pounds of steam that are sold to a variety of industries. For more information, visit www.covantaenergy.com.