Waste Solutions Provider Brightmark Announces New Growth Plan
Over the past two years, Brightmark has more than tripled the size of its staff, garnered $150 million in equity investments in its projects, and acquired proprietary technology that aims to create a circular economy for post-use plastics.
The company’s first commercial-scale advanced recycling facility is under construction in Northeast Indiana.
Brightmark Energy announced a new brand identity and growth plan.
Brightmark has dropped the word “Energy” from its name and will be known as simply “Brightmark” to better reflect the company’s mission and focus. The company says that this new name signifies the company’s global growth trajectory in support of its mission to build a world without waste, as well as the outputs Brightmark produces other than energy, including clean water, wax, and the materials used to produce new plastics. Advanced plastics recycling, or plastics renewal, and renewable natural gas via anaerobic digestion will remain at the core of Brightmark’s waste solutions.
In honor of the 50th anniversary of Earth Day, the company is also announcing ambitious new goals. In the next five years, Brightmark aims to:
- Divert 8.4 million metric tons of plastic from landfills and the natural environment
- Offset the release of 22 million metric tons of greenhouse gas emissions.
Over the past two years, Brightmark has more than tripled the size of its staff, garnered $150 million in equity investments in its projects, and acquired proprietary technology that will create a circular economy for post-use plastics. On the project side, its key accomplishments include:
- Financed and constructed a $260 million, first-of-its-kind plastics renewal facility in Indiana: Beginning in early 2021, the facility will accept 100,000 tons of plastics each year for conversion into new products – a vastly greater scale than any other facility of its kind in the world.
- Partnered with 20 dairy farms in six states on renewable natural gas (RNG) projects featuring anaerobic digestion technology: Once all of these projects are operational, Brightmark’s RNG projects will generate enough renewable natural gas each year to drive 5,100 18-wheeler trucks from San Francisco to New York City.
- Launched a nationwide search for its next plastics renewal plant sites, with plans to invest $500M to $1B in each location: The company plans to make its final site selection decisions by the third quarter of 2020 and have at least two sites shovel-ready by 2021, prioritizing key regions in Florida, Georgia, New Jersey, New York, Pennsylvania, Louisiana, and Texas.
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