Bonds Issued by the California Pollution Control Financing Authority : Anaergia Secures $117m Funding for North America’s Largest Food Waste Facility
Ontario headquartered waste and resources firm, Anaergia, has raised $117 million for its planned Rialto Bioenergy Facility in Carlsbad, California.
A total of $117 million of tax exempt bonds were issued by the California Pollution Control Financing Authority for the facility, a substantial portion of the $160 million of total capital for the construction and commissioning of this facility.
The plant is expected to begin operations in the third quarter of 2020. According to Anaergia, once fully operational, the plant will be the largest food waste digester facility in North America, converting 700 tonnes per day of food waste and 300 tonnes per day of biosolids into renewable natural gas, renewable electricity, and Class A organic fertiliser.
Anaergia is building the RBF in collaboration with Waste Management, Republic Services, Southern California Edison, Anaheim Public Utility, Southwest Gas Utility, City of Rialto, the Sanitation Bureau of the City of Los Angeles, and the Sanitation Districts of Los Angeles County and of Orange County. Sources of the funding for the RBF include the California Energy Commission, the U.S. Department of Energy, CalRecycle, the State of California and significant private investment.
Andrew Benedek, CEO of Anaergia, commented: “The successful bond financing for the RBF is a major signal of the strength of our partnerships.
“It also reflects the need for more organics recycling infrastructure in California, as well as our ability to deliver robust and replicable organics recycling solutions here, and elsewhere, through public-private-partnerships.”
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