New York-based firm takes ownership of facility from United Waste Management Inc.
ReEnergy Holdings LLC, an Albany, N.Y.-based renewable energy company, has acquired United Waste Management Inc.’s (UWM) construction and demolition processing facility in Boston. The facility has been in operation for more than 40 years.
“We are very excited to complete the acquisition of the UWM facility in Boston,” says Larry Richardson, ReEnergy’s CEO. “This addition to our portfolio exemplifies our strategy to build a vertically integrated renewable energy company. The UWM facility will increase ReEnergy’s presence in the construction and demolition (C&D) processing and recycling market in Eastern New England, and in particular will enhance our ability to recycle the C&D debris generated in the City of Boston, converting a significant percentage of the recovered wood into high-quality fuel that will be used to generate renewable energy.”
According to a release, the Boston facility will complement ReEnergy’s existing operations, which includes eight renewable energy generation facilities in New England and Northern New York and two C&D processing facilities that service the eastern New England/Boston metropolitan area marketplace: ReEnergy Gateway/LL&S in Salem, N.H.; and ReEnergy Gateway/ERRCO in Epping, N.H.
Tom Beck, ReEnergy’s chief commercial officer, says, “ReEnergy will strive to continue to provide a valuable service to the companies that collect and transport construction and demolition material that’s generated in the area.”
ReEnergy Holdings LLC, formed in 2008, owns and operates facilities that recycle waste and facilities that use forest-derived woody biomass and other waste residues to produce renewable energy. The company is a owned by Riverstone Holdings LLC and a senior management/co-investor team comprised of experienced industry professionals.
Including the acquisition, ReEnergy owns 300 megawatts of installed renewable energy generation capacity, recovers an average of 70 percent of the nearly 500,000 tons per year of C&D it processes.