Waste No Energy to develop AD facility in Ind.
Waste No Energy LLC, a company owned by RAKR Farms, has announced the development of a multi-million dollar anaerobic digester facility designed to renew energy and fuel the economy. The facility is on schedule to begin generating renewable power in December 2013 and will serve as the ninth of its kind in the state.
“This is an exciting time for all of us at Waste No Energy. This technology has been utilized in Europe for decades and we are proud to bring it to Indiana,” said Doug Raderstorf, president of Waste No Energy. “Having partners, like First Financial Bank, who understood and supported our goals was key to moving the project forward. We are proud that it is becoming a reality for the area.”
In addition to producing clean, renewable energy that will be purchased by Northern Indiana Public Service Co., the facility’s digester will convert a mix of manure and food waste to produce organic liquid fertilizer. As a result, the process will replace demand for chemical fertilizers that can be harmful to the environment. While operating continuously, the digestion process will require no use of fresh water or chemical additives of any kind and produce zero waste products, thereby reducing the area’s carbon footprint.
Once complete, the facility will enable the following:
- Annual production of 8.2 million kilowatts of green electricity for powering 940 Indiana households;
- Daily collection of 26 tons of manure; and
- Daily collection of 125 tons of organic food waste including expired grocery and bakery goods, restaurant waste, cheese manufacturing waste and animal proteins.
Waste No Energy’s significant capital investment is being coupled with construction funding provided by First Financial Bank. In concert with a SBA-approved loan arranged through Premier Capital Corp., the bank will provide the long-term permanent financing. In addition, C.G. Schmidt Inc. and U.S. Biogas LLC are the respective general contractor and design engineering firms.
“We are extremely pleased to have the opportunity to be a part of Waste No Energy LLC’s unique project that involves so many successful people and businesses,” said Dave Mackey, senior vice president of commercial lending for First Financial Bank. “It was very clear from our early discussions that their commitment to the project was unshakeable and that their business plan and projections were clearly defined. As a result, we were pleased to do what was needed on our end to provide the financing package they were seeking.”
“Renewable energy projects like this play an important role in the overall energy mix, and we hope it serves as a model for the continued development of other sustainable renewable projects in the future,” added Karl Stanley, vice president of commercial operations for NIPSCO.