When fully operational, the facility will convert 100,000 tpy of plastic into 18 million gpy of fuel and 6 million gpy of wax. By working with New Energy Risk (NER), RES Polyflow has reduced the overall cost of project capital, increased the certainty of execution, and made the bond offering more attractive to investors.
RES Polyflow and its San Francisco-based parent development company, Brightmark Energy, raised an aggregate amount of $260 million, including $185 million in Indiana green bonds, underwritten by Goldman Sachs & Co. To streamline the financing, the companies approached NER, an affiliate of the global reinsurance group AXA XL, a division of AXA, to design a custom performance insurance policy that would mitigate technology risk for financiers interested in investing in this revolutionary project and the company's process that can convert 500,000 tpy of waste into 50 million gpy of biofuel .
The Indiana plant superheats and then converts plastic into ultra-low sulfur diesel and naphtha blend stocks, as well as commercial grade wax.
(Source: AXA XL, PR, 23 April, 2019) Contact: AXA AL, www.axaxl.com;
New Energy Risk, (650) 204-4279, firstname.lastname@example.org, www.newenergyrisk.com;
Brightmark Energy, Bob Powell, CEO, (415) 689-8395, email@example.com, www.brightmarkenergy.com; RES Polyflow, www,respolyflow.com
More Low-Carbon Energy News Brightmark Energy, RES Polyflow, Plastic-to-Fuel,
Brightmark Energy develops, owns and operates waste and energy projects. The company's technology solutions include combined heat and power, waste to energy that are specifically tailored based on customer needs, and biogas
(Source: Brightmark Energy, PR, Citizen Tribune, 9 Nov., 2018) Contact: Brightmarks Energy, Bob Powell, Pres., Pres., http://brightmarkenergy.com; RES Polyflow, www,respolyflow.com
More Low-Carbon Energy News BiogasBrightmark Energy,