Waste to energy
01 December 2020
Covanta Holding Corporation (NYSE: CVA) ("Covanta"), Green Investment Group Limited (“GIG”) and Biffa plc (LSE: BIFF) (“Biffa”) today announced financial close and the commencement of construction on the Protos Energy Recovery Facility (“Protos ERF”) in Cheshire, England. Covanta and GIG will each own 37.5 percent of the state-of-the-art Energy-from-Waste (“EfW”) facility, with Biffa, the primary waste supplier for the facility, owning the remaining 25 percent of the project.
Michael W. Ranger
CEO and Covanta President
Head of GIG, Europe
Chief Executive, Biffa
The facility will use proven technology to provide up to 400,000 tonnes of annual treatment capacity for non-recyclable waste, further enabling the UK to achieve national self-sufficiency in managing waste and compliance with landfill diversion targets.
Located near Ellesmere Port in Cheshire, the Protos ERF will be built within Peel L&P Environmental’s Protos energy and resource hub, a site that clusters together innovative technologies and connects energy-intensive operations with sources of low-carbon energy. The facility will be capable of generating 49 megawatts, enough low-carbon electricity to power around 90,000 homes.
Construction of the facility will be led by a joint venture between Mytilineos S.A. and Standardkessel Baumgarte GmbH, both of whom have a long and successful track record of delivering infrastructure projects in the United Kingdom and around the world. The three-year construction phase is expected to provide significant economic opportunities to the local and regional area, both during construction and upon its completion.
Like the Newhurst project before it, the Protos project consortium combines world-leading expertise in EfW operation and development, green infrastructure investment, and waste management and collection. Covanta will supply technical oversight during construction and operate the facility for an initial 20-year term, with Biffa providing the majority of the waste supply through a long-term agreement and using the facility as a vital outlet for non-recyclable waste.
Covanta is a world leader in providing sustainable waste and energy solutions. Annually, Covanta’s modern Energy-from-Waste facilities safely convert approximately 21 million tons of waste from municipalities and businesses into clean, renewable electricity to power one million homes and recycle over 500,000 tons of metal. Through a vast network of treatment and recycling facilities, Covanta also provides comprehensive industrial material management services to companies seeking solutions to some of today’s most complex environmental challenges.
For more information, visit covanta.com.
Covanta US Media Contact
Covanta UK Media Contact
07506 208 555
Covanta Investor Contact
Biffa has been at the forefront of the UK's waste industry for over a hundred years, with operations that span the entire breadth of the waste management process including collection, recycling, treatment, disposal and energy generation. We exist to change the way people think about waste; to help people see the opportunities that exist when we manage our waste in the right way, and to make that happen. We understand the vital role we have to play in helping the UK to address the climate emergency and deliver sustainable growth. This involves an ambitious investment programme in green economy infrastructure and low carbon collections, alongside an ongoing commitment to sector leadership in the health, safety and wellbeing of our people. Biffa is a Great British company. It has been listed on the London Stock Exchange since October 2016 under the ticker "BIFF". In March 2020, Biffa entered the FTSE-250.
For more information, visit www.biffa.co.uk/investors
Biffa Media Contact
Houston - Anushka Mathew or Ben Robinson
0204 529 0549
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Covanta Holding Corporation, its subsidiaries and joint ventures or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. For additional information see the Cautionary Note Regarding Forward-Looking Statements in the Company's 10-K and in the Company’s most recent Quarterly Report on Form 10-Q, previously filed with the Securities and Exchange Commission.