LONDON – Nov 11, 2017 – 4NEW, the company operating Waste to Energy treatment plants today announced a giant leap forward. 4NEW has ordered the production of its first Waste to Energy plant for a staggering USD $24.83 Million with delivery and subsequent installation of equipment to occur within 6 to 8 months between May and July 2018.
The first 4NEW plant will have a waste processing capacity of 72 tons per day of RDF, SRF, TDF, tyres, plastics, medical waste, carpets, textiles, wood wastes, oil liquid waste, chemical waste, raw food packaging, animal by-products and any type of hazardous and non-hazardous waste.
The plant will be able to generate 120 megawatts of power per day which totals 43,800 megawatts of power per year. As part of the deal, 4NEW will also procure insurance coverage to secure its revenue from any equipment failure, or unforeseen acts of God.
“What this means for the company and its investors is that the first Waste to Energy site could be operational and in production as soon as July 2018; 5 months earlier than previously anticipated. We are exuberant about the prospects of pleasantly surprising our investors with early production of our goods and services. Additionally, the company’s annual sales will be protected by insurance coverage, thereby securing 4NEW and its investors from any unpleasant, unforeseen events with the plant once its operational.” said Sandeep Golechha, CEO of 4NEW.
The plant will drive annual sales of approximately $5 Million USD under current capacity, however, 4NEW can add additional waste processing lines to their plant as additional funds are raised thereby increasing output by 4 times per site. 4NEW also has options with lenders to explore debt financing in order to complete targeted acquisitions over the next 6 to 9 months.
The plant equipment has been ordered through Eco-Green Power Limited, a UK based plant production company. Eco-Green currently has three sites where their plants are in operational use. These include, 2 sites in Finland and 1 site in Denmark. “With such a seasoned equipment production company acting as our partner, we are confident that expeditious turnaround will be feasible,” stated Mr. Golechha.
Last month, 4NEW successfully secured a $25 million round of funding from Mirach Capital Group, a US based private equity fund. These funds were allocated towards the purchase of 4NEW’s first plant site and equipment installation costs.
“4NEW’s business model has demonstrated significant foundational strength whereby Mirach Capital has observed great interest from other institutional partners to form join venture affiliations in order to invest in the project. To successfully mobilize an investment funding round to the tune of USD $300 Million, usually requires a large percentage of dollars to be raised from institutional investors and then a small percentage from the general public.” stated Mark Ryan, CFO of Mirach Capital.
Although, 4NEW intends to scale operations globally, the initial launch will occur in the United Kingdom. The UK’s waste management industry has a total annual turnover of $11 billion USD with approximately 200 million tonnes of waste processed per year. There are approximately 70,000 people employed in the sector across 3,000 companies. This market sector is under developed as technological advancements seen in other industries have been held back or are slow to materialize. The size of the UK waste market alone is over 120 billion USD annually.
The UK is also facing an unprecedented “energy gap” in a decade’s time, according to the Institution of Mechanical Engineers (IMechE). With demand for electricity likely to outstrip supply by more than 40%, widespread blackouts are within the realm of possibility.
4NEW, will revolutionize and standardize the industries of Waste and Energy by offering services as a wholesaler within the Utilities sector that is fully integrated onto a decentralized, distributed ledger enabling all actors within the industry to trade waste and energy transactions using the 4NEW Coins towards payments within the 4NEW ecosystem.
The 4NEW coins are utility tokens with built-in smart contract capabilities. They establish a binding relationship between two transacting parties and provide a value for each transaction. The ledger on the 4NEW ecosystem provides an immutable and audit-able journal of all transactions related to the buying and selling of energy and waste. Each transaction is transparent to all parties which allows them to see the same ledger entry and cost of reconciliation thus controlling issues of dispute and revenue leakage to a great extent.
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