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Nature’s Fuel announces new funding
Thursday, September 13, 2012 7:31 AM
A waste-to-energy company that first revealed plans to build in Huntington four years ago has announced that it has received funding for the $350 million project.
Glenn Johnson, president and chief executive officer of Nature's Fuel, announced Sept. 6 that funding will come from The Krinos Group, a Nevada based company that is the parent company of the Ohio-based Krinos Venture Capital. Johnson says The Krinos Group will fund the construction of the plant as well as all equipment needed for its operation.
Nature's Fuel plans to build a plant at the Huntington Landfill that will convert non-hazardous waste into low sulphur diesel fuel, airline fuel and synthetic oil.
Although a groundbreaking ceremony for the plant was held in April of 2011, no construction has yet taken place. The Nature's Fuel website says construction will begin before the end of 2012 and the plant will be operational during the second half of 2013.
Johnson says the plant will initially employ about 180 people.