Anaergia Announces Successful Bond Financing for North America’s Largest Organic Waste-to-Energy Facility, its Rialto Bioenergy Facility in California
Carlsbad, California, February 15, 2019 – Anaergia, Inc. is pleased to announce the successful issuing of bonds, as part of the funding of its Rialto Bioenergy Facility (RBF).
A total of $117 million of tax exempt bonds were issued by the California Pollution Control Financing Authority for the RBF. This is a substantial portion of the $160 million of total capital for the construction and commissioning of this facility, which is to begin operations in the third quarter of 2020. When fully operational, the RBF will be the largest food waste digester facility in all of North America, converting 700 tons per day of food waste and 300 tons per day of biosolids into renewable natural gas, renewable electricity, and Class A organic fertilizer.
Anaergia is building the RBF in collaboration with Waste Management, Republic Services, Southern California Edison, Anaheim Public Utility, Southwest Gas Utility, City of Rialto, the Sanitation Bureau of the City of Los Angeles, and the Sanitation Districts of Los Angeles County and of Orange County. Sources of the funding for the RBF include the California Energy Commission, the U.S. Department of Energy, CalRecycle, the State of California and significant private investment.
Andrew Benedek, CEO of Anaergia, noted: “The successful bond financing for the RBF is a major signal of the strength of our partnerships. It also reflects the need for more organics recycling infrastructure in California, as well as our ability to deliver robust and replicable organics recycling solutions here, and elsewhere, through public-private-partnerships.”
About Anaergia Inc.
Anaergia Inc. is the global technology leader in recovering value from waste for the municipal, industrial, and agriculture sectors. Through its proven portfolio of proprietary technologies, Anaergia’s integrated solutions create value for its customers in the forms of renewable energy, quality fertilizers, and clean water, while dramatically reducing the cost of waste management. Anaergia’s global headquarters are located in Burlington, Ontario, Canada. It operates out of nine regional offices as well as four manufacturing plants. Anaergia’s technologies are in use at nearly two thousand resource recovery facilities worldwide, reducing greenhouse gas emissions while creating new revenue sources for its clients.
For more information on the Rialto Bioenergy Facility, please contact Yaniv Scherson at Yaniv.Scherson@anaergia.com.