Garb Forming Consortium to Build 10 E-Scrap Plants
Garb Oil & Power Corporation is in the final stages of forming a consortium of six companies to build 10 E-scrap (electronic waste) plants in the eastern part of the United States, according to a recent press release.
The combined value of the projects is $135 million, spread over the next 24 months. Garb expects to finalize the agreement with all six companies soon. The plants will process 300,000 metric tons of E-scrap per year using the company's technology in 10 states across the eastern seaboard. The plants will apply the Garb ClosedCycle™ principle of leaving NoWaste™. Commissioning of the plants will start in the first quarter of 2011.
John Rossi, chair and chief executive officer, stated, “The consortium will be made up of six companies, all contributing in some way to the projects. From manufacturing to consulting, each company will help Garb to consolidate our ClosedCycle™ principle and contribute to a NoWaste™ process. Garb will take the leading role in the consortium with 51 percent of the shares, Garb will contribute its E-Waste (E-Scrap) technology and expertise. The consortium will own, manage and operate the 10 plants once they are built and contribute to a solid reduction of electronic waste and general electronic scrap.”