Changing World Technologies
5 Years ago, and again 4 years ago, I wrote about a company, . This company uses to convert industrial biological waste (read ConAgra turkey guts) into crude oil and assorted chemicals. Those particular posts have been some of the most read and commented posts on this blog. I haven’t heard much about them recently until today.
Changing World Technologies will find out whether there’s money in those hills of garbage.
The company, which converts animal and food wastes into diesel fuel and fertilizer, filed paperwork on Tuesday for an initial public offering. It hopes to raise as much as $100 million, according to the filing.
[snip]
Changing World, which is based in West Hempstead, N.Y., operates a plant in Carthage, Mo. The plant turns animal wastes and grease into renewable diesel, a fuel that qualifies for a federal $1-per-gallon subsidy.
The plant is capable of taking in 78,000 tons of animal and food processing waste per year and turning out between 4 million to 9 million gallons of diesel, depending on the feedstock.
With the proceeds from the IPO, it hopes to build facilities that can process 500 tons to 2,000 tons of animal and food processing waste per day to make 13 million to 54 million gallons of diesel per year.
Changing World sells the diesel, which its says is competitive on price with heating oil, for use in industrial boilers.
The company said its thermal conversion process is environmentally friendly because it creates a product out of wastes that would otherwise go to landfills, potentially releasing pathogens into the environment. In addition to diesel, the technology also produces organic fertilizers.
Wastes are heated and pressurized and then treated with water to separate materials into gases, diesel, and solids.
The process can be converted for several other materials, including shredded tires, municipal garbage, and even electronic waste. The company is now developing a second facility with auto manufacturers in Philadelphia to process tires.
I’m guessing that the ris in the price of a barrel of crude is making their scheme more financially sound, although, even with a federal subsidy they still aren’t turning a profit. That, I think, will require scaling the process, which, it appears, is what this IPO is all about raising the funds for. I wish them luck.
[tags]recycling[/tags]
