Greentech Lead America: Lakeside Energy has made a
strategic investment in InEnTec, a developer of technology to produce renewable
fuels and products from household, industrial, and chemical wastes.
InEnTec Chemical was formed as a joint venture between
InEnTec and Lakeside Energy.
Following the transaction, InEnTec Chemical becomes a
wholly owned subsidiary of InEnTec and Lakeside Energy becomes a significant
shareholder in InEnTec.
InEnTec previously announced a similar deal in which
Waste Management took a significant stake in InEnTec, and InEnTec became the
sole owner of S4 Energy Solutions.
S4 Energy Solutions recently started a commercial scale
Plasma Enhanced Melter (PEM) at Waste Management’s Columbia Ridge site in
Oregon. That project has already demonstrated the ability to create useable
fuels out of the trash from the western part of the state.
“We are very pleased that Lakeside Energy has chosen to
take an equity stake in our future. With full ownership of InEnTec Chemical and
S4 Energy Solutions, InEnTec now has 100 percent ownership of all InEnTec
operating subsidiaries and operating plants,” said Karl A. Schoene, president
and CEO of InEnTec.
InEnTec Chemical currently owns and operates a PEM at Dow
Corning’s silicon-based materials manufacturing facility in Midland, Michigan.
The Midland PEM began start-up in late 2009, and recycles hazardous chemical
residuals into reusable process chemicals and clean syngas used as fuel for
steam.
“We believe the PEM technology has the potential to shape
the future of how the world transforms waste into valuable resources. We
continue to be impressed by the progress the InEnTec management team is making
in commercializing and deploying this technology,” said Matthew LeBaron, a
managing director of American Securities.
“We are proud to have been a partner in the startup of
the first PEM at a U.S. chemical manufacturing site. We are confident that
InEnTec will achieve its goals at Midland and replicate that success at many
more sites in the future,” Christopher Fanella, executive vice president at
Lakeside Energy.