BRISTOL, CT--(Marketwired - Oct 28, 2013) - Covanta Energy Corporation (NYSE: CVA), a world leader in sustainable waste management and renewable energy, and Turning Earth, LLC an integrated organics recycling company, today announced a new partnership to provide organics recycling to Connecticut municipalities and businesses. The 10-year agreement calls for Turning Earth to build, own and operate an integrated organics recycling facility in central Connecticut to which Covanta will divert organic waste for beneficial reuse in partnership with municipalities and commercial customers. Covanta and Turning Earth will explore future opportunities in the Connecticut and Massachusetts region.
The facility will be powered by the Aikan™ Technology, a patented high solids anaerobic digestion (HSAD) and in-vessel composting system which converts organic waste streams into several valuable and environmentally beneficial products including renewable base load energy and high quality compost. Organic waste residuals provided by Covanta will come from Connecticut communities and businesses and will be comprised of yard waste, food waste and other organic waste streams.
"We couldn't be more excited about our partnership with Turning Earth," commented Stephen Diaz, Covanta Energy Vice President. "Organics recycling is important to our customers and an important part of CT DEEP's goals. This arrangement will now enable Covanta to provide our area municipal and commercial customers the ability to include organics recycling within their sustainable waste management programs."
Covanta's Energy-from-Waste facilities will continue to provide disposal for post-recycled waste. Covanta's Connecticut facilities generate clean, renewable energy for more than 34,000 homes in the state and recycle enough metal to build more than 12,000 automobiles annually.
"We are thrilled to be partnering with Covanta," said Andrew Kessler, Turning Earth's President. "Our partnership with Covanta, local communities, and other important stakeholders, sets a new standard for organic waste management, renewable energy production and the replenishment of our soils."
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, a potent greenhouse gas that is 72 times more powerful than CO2 over a 20 year period. 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.
"I am proud that the Bristol region will be among the first to benefit from this unique partnership," commented Bristol Mayor Art Ward. "It continues a long-established collaborative effort between Covanta and Connecticut communities to attract environmentally-sound, cutting edge technologies and solutions to waste management in a manner that stimulates our local economies."
Christian Christensen, CEO of Solum Group and creator of the Aikan™ Technology remarked, "Aikan is a proven Danish technology that we have been working in partnership with Turning Earth to commercialize in the U.S. This is exactly the kind of project we envisioned when we decided to focus on the North American market -- an alignment of interests from a broad range of stakeholders to achieve common objectives."
"This initiative represents an important step forward in moving our country toward a sustainable future," adds Joanna Underwood, President of the national environmental organization Energy Vision. "Organic wastes, which we have long just treated as 'garbage,' are in fact one of this country's most valuable energy sources. With today's technologies, they could displace up to 25% of all diesel fuel. We strongly support this groundbreaking Covanta-Turning Earth project."
Facility construction is anticipated to begin in the latter half of 2014 following site selection, the receipt of permits and procurement of organic waste.
Covanta is a world leader in sustainable waste management and renewable energy. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with an environmentally sound solution to their solid waste disposal needs 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 430,000 tons of metal. Energy-from-Waste facilities reduce greenhouse gases, complement recycling and are a critical component of sustainable solid waste management. For more information, visit www.covantaenergy.com.
About Turning Earth
Turning Earth is an integrated organics recycling company dedicated to producing renewable energy, compost and sustainable local agriculture from organic waste, an approach called The Triple Play™. Turning Earth facilities are powered by the Aikan™ Technology, which converts organic waste to biogas and high quality compost. Waste is nothing more than resources gone astray, and Turning Earth is setting a new standard for sustainable organic waste management. For more information, visit www.turningearthllc.com.
About Solum Group
Solum Group, creators and operators of the Aikan™ Technology for over ten years, have more than a quarter century of organics recycling experience and are Denmark's largest supplier of compost, growth media and turf care products. Solum Group creates value by integrating waste processing, biogas production and the manufacturing of a wide range of soil improvement products. Solum's pioneering approach and its outstanding business operations have received numerous awards. For more information, visit www.aikantechnology.com.