Energy startup GenAgain eyes oil from trash
Renewable energy startup GenAgain Technologies Inc. is making a bold proposition: Convert plastic trash into liquid gold.
The company plans to invest up to $75 million in Atlanta and create as many as 200 jobs as it builds several area plants to convert plastic waste into synthetic crude oil.
"It's a combination of being an environmentally friendly technology, producing an alternative energy," Curtis said.
The technology that GenAgain will use is developed by Agilyx Corp., a Portland, Ore., area-based renewable energy company. Agilyx is backed by leading greentech venture firm Kleiner Perkins Caufield & Byers, Waste Management Inc., and Total Energy Ventures International.
Simply put, Agilyx's technology involves heating plastic waste, such as Styrofoam cups and plastic shopping bags, into a gas. The gas is transferred to a condensing unit, cooled and condensed into crude oil. It takes about 10 pounds of plastic to squeeze out a gallon of oil. The entire process takes about four and a half hours.
The resulting oil blends into refined products such as aviation fuel, gasoline and lubricants.
"Those are the high-end products that the refineries make the most money on," Curtis said.
GenAgain Technologies, LLC is pleased to announce the March 2013 opening of our Atlanta Facility, located at 2285 Sweetwater Ind. Blvd., Lithia Springs.
The Atlanta facility is located in a 63,000 square foot production plant where it will employ about 40 people. When in full operation, this facility will produce, on average, 300 barrels of crude oil daily which will be sold to refineries and asphalt manufacturers.
GenAgain Technologies plans to develop four to five plants in metro Atlanta in the next two years. In other areas of the US, we are looking at building plants in Houston, TX, and Wilmington, NC. We have 15 projects ready to be developed in different areas with a total investment of about $300 million over several years.
GenAgain Technologies is currently seeking to create long-term relationships with waste plastic generators and suppliers. GenAgain can offer your organization a sustainable solution to mixed and or contaminated waste plastics.
- All Resin Types and Forms
- Mixed and or Contaminated Waste Plastics
- Hard to Recycle Streams
- Daily Capacity - 50 Tons
- Open to All Quantities
- Ground Single Source
- Ground Mixed
- Loose Single Source
- Loose Mixed
- Baled Single Source
- Baled Mixed
- EPA Approved
- Open 360 days: 24/7
- Long-Term Contracts
- Short-Term Contracts
- Cost Savings
- Landfill Reduction
- Waste Stream Analysis
- Program Development and Support
- Quarterly Reports
- Proprietary Product Destruction (Certified)