New York, New York [RenewableEnergyAccess.com] Global Energy has announced that it has entered into agreements with Renewable Diesel, LLC and Covanta Energy in connection with the joint ownership of projects utilizing a proprietary technology that converts household waste and other waste containing hydrocarbon materials into renewable diesel fuel.
Under the first agreement, Renewable will develop projects to convert waste and hydrocarbon waste into diesel. With a limited exception, Global has the right to invest a majority of the equity for all of the projects that are developed by renewable using their technology. Renewable plans to develop projects in New York, Texas and California.
Global’s agreement with Covanta will allow the company to develop projects using Global’s technology with certain feedstocks in the United States and several other countries. Covanta has ordered an initial system for the United States market to demonstrate the commercial viability of the technology.