GreenWorld Development Inc. has a tentative agreement for financing to complete development of the company’s biomass and waste-to-energy pipeline projects, and the acquisition and upgrade of a wood pellet plant.
The Atlanta-based sustainability products company said in a news release it has reached a preliminary agreement with a consortium of United States and Middle East investors to provide a $75 million private placement facility. The proceeds will be used for GreenWorld’s completion of unspecified biomass and waste-to-energy projects and the purchase and upgrade of a wood pellet plant in Laurinburg, N.C.
"This is an important step for the company's growth and development plans,” said Leo Heinl, GreenWorld CEO. “The purchase of the North Carolina plant will bring the company into revenue, and this will support our developed plans to acquire and to develop further wood pellet plants in the [United States]."