Blue Sphere Corp. has secured financing for its waste-to-energy project in Charlotte, N.C.
Blue Sphere, based in Even Yehuda, Israel, received a commitment from Nashville, Tenn.-based Caterpillar Financial Services Corp. to provide $17.785 million in debt financing, according to a news release.
Blue Sphere plans to build a 5.2-megawatt organics-to-energy anaerobic digester in Charlotte. The company announced the project last fall.
The company expects to break ground in the third quarter and complete it in the third quarter of 2014. Blue Sphere is partners with Biogas Nord AG of Germany in the project and will retain a 37.5-percent ownership.