Allan Gerlat, News Editor

June 1, 2012

1 Min Read
GreenWorld Nets Tentative Financing for Waste-to-Energy Projects

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]."

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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