Green Energy Solution Industries Inc. (GESI) is finalizing the phase for provision of up to C$45 million ($44 million) to fund a waste-to-energy project in Alberta, Canada.
GESI's strategic partner, InREFCo, is assisting GESI in the due diligence and compliance period for the provision of all funds necessary to carry out its project development of a 200 ton-per-day energy production facility. The funding will be used to deliver a turnkey facility for a large-scale electricity plant or a large-scale renewable fuel plant.
The project-based financing is expected to be offered under project revenue financing terms based upon the projections of revenue that GESI has been able to show would be produced from the waste rail tie to energy project. The project financing is projected to fully cover the build-out of the plant. The financing phase is one that InREFCo has provided to numerous companies. At this point, the due diligence and compliance period with final approval and terms of funding is expected to be closed in approximately two weeks.
GESI previously announced that it had entered a strategic agreement with InREFCo for a technology for converting waste-to-energy using InREFCo's thermal waste gasification technology availability.
Read more financial news