International Power Group, Celebration, Fla., has partnered with ForeverGreen Enterprises, Tinton Falls, N.J., to build a $227 million waste-to-energy facility on a 60-acre site in LaFontaine, Ind. International Power will own 75 percent of the joint venture, while ForeverGreen will own the remaining 25 percent.
"We are excited about this joint venture with ForeverGreen Enterprises because it establishes a foothold for us in the lucrative United States waste-to-energy market -- something that has been one of our major goals,” said Woodrow Crouch, CEO of International Power, in a press release. “We look forward to working with ForeverGreen in Indiana and on other projects in the future."
The facility is expected to process as much as 750 tons of industrial, chemical and medical waste each day into green hydrogen, methanol and electricity.
"The joint venture with International Power is the beginning of what we expect to be a long and mutually rewarding relationship,” said Michael Kelly, CEO of ForeverGreen, in a press release. “International Power offers us an excellent opportunity to accelerate the domestic and international launch of our Progressive Molecular Dissociation platform. They will help us bring a process that cleans the environment while simultaneously producing low-cost energy, fuels and industrial products to many locations within the United States and the rest of the industrialized world."