May 8, 2014
Bluesphere Corp. has begun design work on a 5.2 megawatt waste-to-energy facility in Charlotte, N.C.
The company, based in Even Yehuda, Israel, said the design and engineering work will take about two months, followed by work on site, according to a news release.
Bluesphere said a Fortune 50 company has agreed to provide $13.8 million in debt project financing for the facility, and a leading environmental finance fund will provide equity project financing of $9.1 million.
A large power company in the U.S. has a signed a long-term contract with Bluesphere to purchase electricity generated at the Charlotte plant. A large privately held composting company will purchase the compost byproduct from the facility.
The plant will begin producing power in the summer of 2015, said Bluesphere CEO Shomi Palas.
Blue Sphere is developing a second U.S. organics-to-waste facility in Rhode Island. By 2018 the company plans to have built 11 facilities, with six more under development.