Empire Diversified Energy, Inc. announced that its wholly owned subsidiary, Empire Green Generation, LLC, has closed on its financing of forty million dollars through the sale of Solid Waste Disposal Facilities Revenue Bonds (Empire Green Generation, LLC Project) Series 2023 with the West Virginia Economic Development Authority.
This financing will be used to complete the construction of the recycling plant at the company's riverfront complex of the 'Port of West Virginia' in Follansbee, West Virginia.
The plant will recycle plastics and other recyclable waste products into renewable electricity for the Port and its surrounding area, and will be using high efficiency, state-of-the-art, pyrolysis technologies in its operations. The facilities of the plant will include a newly constructed 30,000-square-foot all-weather building to house the pyrolysis equipment, and a repurposed 20,000-square-foot structure to support the feedstock storage.
The company's Chief Executive Officer Frank Rosso stated: "We are very pleased to bring this cutting-edge technology to the State of West Virginia and are committed to our efforts of environmentally friendly and economically sustainable growth at the Port of West Virginia."
"We believe Empire Green Generation will be an industry leader in waste-to-energy recycling and are excited about its future. We thank our entire Empire team, the West Virginia Economic Development Authority, and our lenders for their continual support through our growth in a very difficult market; we will continue to provide stakeholders with updates as the plant comes online."
