Garb Oil & Power will establish a joint venture partnership in Rome, Italy to construct and operate an e-waste facility in the Viterbo province.
The new facility will have the capacity to process 25,000 t of electronic waste input. Plastic, alloys and aluminum and copper will be the products of the facility. Once fully operational, the facility is expected to generate over €11 million in revenues annually. The facility will sell all the materials produced to local companies for additional processing.
In the joint venture partnership, Garb Oil & Power will own 51% and the remaining stake will be owned by a company involved in the local waste recycling business. The e-waste plant will then be constructed, owned and operated by Garb Oil & Power. The project requires an investment of nearly $25 million, which includes the cost of land and building the facility.
A local bank will finance the development of the e-waste plant and an insurance bond will guarantee the funding. Initial funds are available to begin the project. Garb Oil & Power is committed to the implementation of NoWaste residue and ClosedCycle principles. The company’s entire OTR processing, waste to energy, e-scrap and e-waste recycling and rubber recycling processing facilities are constructed based on these principles. It trusts that waste processing should be cost- effective and leave no residue.