Anaergia announced the successful issuing of bonds as part of the funding of its Rialto Bioenergy Facility (RBF).
A total of $117 million of tax-exempt bonds were issued by the California Pollution Control Financing Authority for the RBF. This is a substantial portion of the $160 million of total capital for the construction and commissioning of this facility, which is to begin operations in the third quarter of 2020. When fully operational, the RBF will be the largest food waste digester facility in all of North America, converting 700 tons per day of food waste and 300 tons per day of biosolids into renewable natural gas, renewable electricity and Class A organic fertilizer.
Anaergia is building the RBF in collaboration with Waste Management, Republic Services, Southern California Edison, Anaheim Public Utility, Southwest Gas Utility, city of Rialto, the Sanitation Bureau of the City of Los Angeles and the Sanitation Districts of Los Angeles County and of Orange County. Sources of the funding for the RBF include the California Energy Commission, the U.S. Department of Energy, California Department of Resources Recycling and Recovery (CalRecycle), the state of California and significant private investment.
“The successful bond financing for the RBF is a major signal of the strength of our partnerships,” said Andrew Benedek, CEO of Anaergia, in a statement. “It also reflects the need for more organics recycling infrastructure in California, as well as our ability to deliver robust and replicable organics recycling solutions here, and elsewhere, through public-private partnerships.”