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Wed06192013

Europe imposing anti-dumping duties on Chinese solar panels

Europe imposing anti-dumping duties on Chinese solar panels

The European Commission has imposed provisional anti-dumping duties on the impor...

Leading airlines call for a global carbon offsetting scheme for aviation

Leading airlines call for a global carbon offsetting scheme for aviation

The world’s leading airlines urge governments to establish an all-inclusive gree...

Google makes first renewable investment in Africa

Google makes first renewable investment in Africa

Internet giant Google has made its first ever renewable energy investment in Afr...

World’s first floating wind turbine connected to the grid in Maine

World’s first floating wind turbine connected to the grid in Maine

A grid-connected offshore floating wind turbine has been launched off the coast ...

E.U. beats Kyoto target ahead of deadline

E.U. beats Kyoto target ahead of deadline

Europe has already achieved - even surpassed - its Kyoto Protocol target nine ye...

Israel’s Better Place shutting down

Israel’s Better Place shutting down

Better Place, as the name connotes aims to make the world a “better place” by le...

Inclusive and Green: Africa’s economic ‘makeover’

Inclusive and Green: Africa’s economic ‘makeover’

For the longest time, Africa has been dubbed as the world’s poorest inhabited co...

Business

Latin America, Caribbean to be R.E.-dependent by 2050

Latin America, Caribbean to be R.E.-dependent by 2050

Wednesday, 19 June 2013

According to a report commissioned by the Inter-American Development Bank, Latin America and the Caribbean’s renewable energy potential is large enoug...

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Technology

Flexible ribbons of graphite make for better, stronger battery anode

Flexible ribbons of graphite make for better, stronger battery anode

Tuesday, 18 June 2013

Ribbons of graphene and tin oxide have been used by researchers at Rice University to boost the efficiency of a lithium ion battery. The researchers b...

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Politics

U.N. General Assembly to tackle ocean acidification

U.N. General Assembly to tackle ocean acidification

Tuesday, 18 June 2013

The United Nations General Assembly will be discussing the increasing acidificiation of the world’s oceans and its impacts on people and the marine en...

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Living Green

10 Recycling Misconceptions

10 Recycling Misconceptions

Monday, 10 June 2013

In the U.S., recycling has been steadily increasing in popularity for decades, and with good reason! Despite the fact that it's become more widespread...

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Renewables

Low-Carbon

Volvo noiseless electric buses to hit streets of Gothenburg in 2015

Volvo noiseless electric buses to hit streets of Gothenburg in 2015

Tuesday, 18 June 2013

The Volvo Group has announced plans for a new line of electric buses that promise not just emission-less driving but noiseless driving as well. In coo...

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Opinion

Looking to the future of sustainability reporting

Looking to the future of sustainability reporting

Tuesday, 18 June 2013

With the world moving more and more toward sustainable development, there is a rising demand from the public and governments for big businesses to sho...

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Global 8 Environmental Technologies, Inc. signs LOI to acquire majority stake in Peterborough recycling facility


Global 8 Environmental Technologies, Inc. provides solutions for the health and recovery of the environment through the development of Environmental Technology Centers. Image sourced from Global 8 Environmental Technologies

Global 8 Environmental Technologies, Inc., a leading provider of solutions for the health and recovery of the environment, has signed a letter of intent (LOI) to acquire a majority stake in Park Terrace Development Corporation, the operator of a recycling facility in Peterborough, Ontario.

The value of the 120,316-square foot recycling facility in Peterborough was recently appraised at $5.8 million. The transaction is expected to close by June 15, 2009. This is the first joint venture between Global 8 Environmental Technologies and Courtice Industries, Inc., the parent company of Park Terrace Development Corporation.

The facility is scheduled to commence operations by the third quarter of this year, processing at least 100,000 tons of Blue Box recyclable materials such as paper, fiber, plastic, cardboard, and aluminium per year upon reaching full capacity. The projected annual revenue from the sales of recyclable materials processed at the facility at average market prices is $14.5 million, with $9 million generated in EBITDA.

The recycling facility has a rail spur line adjacent to its operations, which would allow the direct loading of commodities into box cars for shipment to the West Coast, and even the Asia-Pacific region. Global 8 Environmental Technologies plans to convert the recycling facility into a self-sufficient Environmental Technology Center by adopting renewable energy technologies such as geothermal and solar. By doing so, the company will be able to gain significant cost-savings from its energy expenses.

Park Terrace Development Corporation has already signed numerous contracts to generate millions of dollars in revenue from the recyclable products processed at the Peterborough recycling facility. Some of these contracts include an agreement with the city of Toronto for the collection and processing of all its Blue Box waste, which is approximately 30,000 tons annually; supply contracts with local paper mills for the purchase of all fiber produced at the facility at or above the current market prices; and an agreement with Trans Canada Recyclers, Inc. for the sale of 10,000 containerized metric tons of Grade 8 or better newsprint per month processed at the facility in China and Southeast Asia.

The company is also in talks with Ontario-based Atlantic Packaging Products Ltd. to provide them with recyclable materials to be processed at the facility.

Aside from the recycling facility in Peterborough, Courtice Industries’ principal, Harvey Ambrose, also owns numerous waste plants, including a fully-operational waste transfer station in Oshawa to process food waste, a large municipal and paper sludge processing plant in Niagara Falls, a 40-acre, $45-million organic recycling plant in Hamilton, and a lakeshore property in Gatineau, Quebec. Ambrose’s property in Quebec contains a landfill, a quarry with more than 200,000 tons of high-quality granite, and 640 acres of land to utilize renewable energy technologies such as geothermal, wind and solar energy, and wastewater treatments.

Global 8 Environmental Technologies, Inc. provides solutions for the health and recovery of the environment through the development of Environmental Technology Centers. The company’s four subsidiaries are based around the four elements of nature: Global 8 BioOrganics, Inc. for Earth; Global AirFlow, Inc. for Air; Global 8 BioEnergy, Inc. for Fire; and Global 8 WaterFlow, Inc. for Water. The company is based in Newport Beach, California.


Natassia Y. Laforteza


Source:

1 http://www.g8et.com/g8.php/site/media/press_20090602

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