The City of Montgomery, Ala., will acquire Infinitus Renewable Energy Park at Montgomery for $625,000. The single stream recycling facility closed last year due to a shift in commodities pricing.
Under this acquisition deal, Infinitus will declare Chapter 11 bankruptcy, and the purchase will take place within five business days after the Bankruptcy Court’s approval of the acquisition. After the sale is finalized, the city will appoint another waste and recycling company to take over the facility’s operations.
AL.com has more details:
The city of Montgomery announced plans today to purchase the single-stream recycling facility that ceased operation in the city in October.
A coalition, made of the city and the Solid Waste Disposal Authority of the City of Montgomery, will purchase the materials recycling facility from current owner and former operator, Infinitus Renewable Energy Park at Montgomery, for $625,000.
"Although it's been a long road, today marks a significant step toward bringing one of the most technologically advanced recycling facilities in the nation back online," Montgomery Mayor Todd Strange said in a statement. "We remain committed to our goal of protecting the environment, while providing a cost effective and efficient service to citizens. Our vision is to find a partner who can not only take over operations at the facility and succeed, but we want to find someone who will lead us into the future and set an example other cities can follow."