GreenWorld Development is an American-Irish waste-to-energy operating company. It is dedicated to develop innovative, competitive, and sustainable products for efficiency goods and services and to support the growing “green” economy.
The company announced today that it has signed a binding framework agreement to acquire Natures Earth LLC, a wood pellet manufacturing facility in North Carolina for a proposed acquisition cost of $16.5 million. Wood pellets are a major source of alternative energy for industrial and domestic use. The capacity of the facility is 120,000 metric tons of wood pellets. This amount is projected to be capable of producing annual revenues in excess of $20 million for GreenWorld Development.
This acquisition is the first cornerstone in the company’s projected expansion plan of “build-own-operate waste-2-energy” plants both in the United States and Europe. GreenWorld plans to double the capacity of the plant within one year and is currently in advanced discussions with a realistic long term production offtaker and feed stock provider. It is at the moment in the process of raising capital, via a long-term financing bond, from a major US financial institution.
The acquisition agreement includes the Equine Pine & Freedom Fuel brands owned by Natures Earth LLC. Once the acquisition closes, GreenWorld intends to appoint Jason Kessler of Kesco and Bliss Industries LLC as the project manager. He has many years of expertise and experience in this industry.
For additional information about GreenWorld Development and this acquisition, please visit the company’s website at www.greenworld-global.com
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