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February 20, 2019

Fiberight $70M waste-to-energy plant finally ramping up

Courtesy / Fiberight
Courtesy / Fiberight
Seen here is the Fiberight single-stream recyclables and municipal solid waste processing facility under construction in Hampden. Plant operations are expected to ramp up over the next few months.

After a year-long delay, commissioning of the Fiberight single-stream recyclables and municipal solid waste processing facility in Hampden is on track to start by April and ramp up through May and June.

The $70 million, 144,000-square-foot waste-to-energy plant is expected to convert 80% of the waste it takes in either into renewable energy or recycling it. Using a high-tech process it will sort, recycle, reuse and refine 180,000 tons of municipal trash per year from 115 municipalities once it's fully operational.

Trash bags will be machine-shredded, the waste will go through a series of screens and be separated and channeled according to size and type. What will come out is clean cellulose, bio-gas, plastics and engineered fuel, metals, waste paper and corrugated cardboard. There is also a plan for turning plastic into fuel.

The plan provides stages of activity leading up to commercial operation, according to a Feb. 19 Municipal Review Committee news release.

"Having a detailed and technical commissioning plan is a significant step in reaching our full commercial operations," Fiberight President Craig Stuart-Paul said in the release.

The plan was prepared by Fiberight's Coastal Resources of Maine. Fiberight is based in Catonsville, Md.

The plant was originally scheduled for an April 2018 opening.

Fiberight LLC is the parent company that developed and owns the technology for the Hampden facility, according to the company's website. Fiberight formed Coastal Resources of Maine LLC to finance, own and operate the Hampden project.

In these types of projects, it is typical to form a special single-purpose entity to facilitate financing. Fiberight initially owned all of Coastal Resources. To raise capital for the Hampden project, Fiberight sold shares in Coastal to an equity investor, Ultra Capital, with the proceeds of the sale being invested in the project.

Today, the Municipal Review Committee is landlord of the property upon which the project is located, Coastal is the owner of record of the Hampden facility, and Fiberight and Ultra Capital are co-owners of Coastal.

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