August 5, 2013
The Albany, N.Y.-based ReEnergy said in a news release the material processed at the facility in Lewiston, Maine, can be used for fuel at biomass-to-energy facilities. The company intends to recover addition wood from the processing streams. Rutland, Vt.-based Casella subsidiary KTI Bio-Fuels Inc. sold the facility to ReEnergy.
The Lewiston facility will complement ReEnergy’s existing operations, which include nine renewable energy generation facilities in Maine, New York, Connecticut and North Carolina, and three C&D material processing facilities that serve the eastern New England/Boston metropolitan area. The company owns four biomass-to-energy facilities in Maine.
The majority of KTI’s 27 employees will join ReEnergy; the remainder will remain with Casella.
“This acquisition allows us to maximize efficiencies and regional synergies and reflects our strategy to continue building a vertically integrated renewable energy company,” said Larry Richardson, ReEnergy CEO. “The KTI facility will increase ReEnergy’s presence in the C&D processing and recycling market in New England, and will enhance our ability to convert a significant percentage of the recovered wood into high-quality fuel that will be used to generate renewable energy.”