United States Waste-to-Energy (USWTE) Green Industrial Fund launched this month, seeking to eliminate toxic waste and excess plastics. The fund is authorized to raise $500 million to build new industrial parks around the U.S. in coming years. Although there is significant competition across the country, Pierce County is shortlisted among possible development locations.
The facilities built will host varying waste-to-energy technologies which will produce products such as blendstock oil, carbon black, and electricity using an environmentally sustainable process called pyrolysis. The patent-pending process was created to permanently eliminate waste plastics and end of life tires, according to USWTE’s website.
“Our business model is to invest and develop environmentally friendly waste-to-energy projects in partnership with select WTE developers with varying technologies in qualified opportunity zones,” Mark Gantar, managing partner at USWTE, stated in a press release.
Qualified opportunity zones are U.S. Treasury certified regions where, under certain conditions, investments are eligible for preferential tax treatment. There are 12 qualified opportunity zones in Pierce County according to the Pierce County Economic Development Board. Opportunity zones were established in 2018 and designed to create greater job growth in low-income communities.
The fund is developed by EazyDoIt Inc., which creates funds for opportunity zones. USWTE works with Green EnviroTech Holdings, EcoHub Waste Separation, EER Foodwaste, and Energy3 BioFuel Diesel to establish waste-to-energy technologies.
With third party guarantees and tens of millions of dollars invested in research and development, USWTE will develop facilities throughout the U.S. to eliminate toxic waste in an environmentally friendly manner. These projects will be developed with a variety of different developers, further creating jobs and revenues instead of empowering one specific developer, according to USWTE’s website.