Date: August 20, 2008
Source: Agresti Biofuels
Agresti Biofuels Gets Okay for First 'Trash to Gas' Facility in the U.S. Company enters contract negotiations with Pike County, Ky.
Agresti Biofuels (formerly Indiana Ethanol Power LLC) announced today that it will begin contract negotiations with Pike County, Ky. for the first commercial municipal solid waste (MSW) to cellulosic ethanol production facility in the United States. The facility and process are completely clean -- air and water will not be polluted -- and waste materials like plastics, rubber and metal will be separated from the MSW for recycling.
Pike County, searching for a more cost effective and environmentally-friendly alternative to its current hollow landfill nearing capacity, voted to begin contract negotiations with Agresti Biofuels for construction of the Central Appalachian Ethanol Plant on August 19. The county's current landfill receives 400 tons of MSW per day; when fully operational, the new plant could process as much as 1,500 tons of MSW per day.
Judge Wayne T. Rutherford, who championed the project for Pike County, expects the Central Appalachian Ethanol Plant to position the county as a leader in waste management technology as well as enhance the local economy.
"It's a win-win situation for every party involved," said Judge Rutherford. "This plant will not only improve the environment, but it will bring more than a hundred new jobs to Pike County when fully operational, which will be a large boost for our local economy."
The decision to move forward comes following announcements that the new United States renewable fuel standards mandate the production of 36 billion gallons of ethanol by 2022. Attaining that goal will significantly reduce our country's dependence on foreign oil. At this time, the Central Appalachian Ethanol Plant is expected to produce 20 million gallons of fuel-grade ethanol and other saleable products derived from MSW by utilizing the patented GeneSyst process invented by James Titmas.
"It has been exciting to work with Judge Rutherford, Roger Ford, the Pike County Energy Director, and the Pike County team," Zig Resiak of Agresti Biofuels said. "After five months of significant due diligence, including the commissioning of a technical evaluation of Agresti's process by the Oak Ridge National Laboratory, Pike County reached the decision to move forward with this project. We are firmly committed to building a state-of-the-art facility for their community and making Pike County a better place to live."
The Central Appalachian Ethanol Plant will be located on a 40-acre site owned by Pike County, near its current landfill. The project has engaged Oppenheimer and the RBC Capital Markets Corporation to provide the financing, allowing Agresti to move forward without requiring local, state or federal subsidies.
Agresti Biofuels was formed through the collaboration of world-class engineers and consultants including project manager RW Armstrong; GeneSyst International, Inc.; River's Bend Engineering, Inc.; and Ghafari Associates, LLC. Oppenheimer and the RBC Capital Markets Corporation have teamed to provide financial underwriting and consulting services for Agresti Biofuels.
Agresti Biofuels is also currently in contract negotiations with Lake County, Ind., where it has received support from the State of Indiana's Office of Energy & Defense.
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