Covanta Energy has created a new business unit to better provide sustainability solutions.
The waste-to-energy subsidiary of Covanta Holding Corp. said the newly named business unit brings together the company’s merchant services subsidiaries, Covanta Secure Services and TransRiver Marketing Co. Covanta’s aim with the restructuring is to better leverage its array of services and capabilities to meet increasing demands geographically and with customer needs for sustainability solutions.
Covanta 4Recovery’s offerings include waste procurement and logistics, environmental services, metals recycling, e-waste recycling and waste customer support, the company said in a news release.
Covanta said the name "4Recovery" encompasses the central part of its business – “recovery" as the 4th R in the waste management hierarchy after reduce, reuse and recycle.
"As a result of company growth in the last decade, we see an excellent opportunity to expand our merchant service offerings to take advantage of new business opportunities including recovering more materials for recycling and providing our customers with even more sustainable solutions for waste disposal," said Seth Myones, president of Covanta Americas.
Merchant services under Covanta 4Recovery will include helping organizations with recycling and energy recovery initiatives to reach zero landfill status, in addition to secure destruction. The unit is also responsible for procuring waste volumes to utilize the portion of waste disposal capacity at Covanta's waste-to-energy projects that is not dedicated to municipal clients, in order to keep facilities operating at full capacity.