Clean Energy Technologies Inc. (CETY) has announced a 20-year power purchase agreement (PPA) between its affiliate Vermont Renewable Gas LLC (VRG) and VEPP Inc., a not-for-profit corporation that administers two of Vermont’s renewable energy programs under contract with the Vermont Public Utility Commission.
VRG will sell all electric power and other related benefits from its 2.2-megawatt biogas facility in Lyndonville, Vermont, to VEPP Inc. The deal, anchored by the Lyndonville project’s anticipated generator availability, is valued at $53 million.
VRG Lyndonville has been qualified as a farm methane project under Vermont’s Standard Offer Program. VEPP, acting as the program facilitator, will distribute renewable energy and other benefits from the VRG project to Vermont’s 17 electric distribution companies.
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CETY will spearhead the facility’s design, construction and operation, leveraging its high-temperature ablative fast pyrolysis reactor (HTAP Bioass Reactor). Located in Lyndonville, Vermont, this facility will convert agriculturally derived organic material into renewable fuel gas and biochar fertilizer as a byproduct.
The renewable gas will be converted into renewable electricity and heat. Expected outputs are over 18,000 MWh of renewable electricity and 1,500 tons of biochar annually, with a projected commission timeline within 12 months. Site permitting and final engineering for the Lyndonville project has commenced.
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In its 85 years in business, Gaeta Recycling has operated a lot of machines. Michael Portannese is the fifth generation of his family to lead the company. Serving 30 municipalities in central New Jersey, Gaeta Recycling processes upwards of 720 tons of waste material per day. Moving material is at the heart of his business and, over the years, he has watched loading equipment become increasingly sophisicated and complex. But for his most recent purchase, Portannese was ready to try a different approach.
“This project is the first of many anticipated renewable biomass projects and is expected to serve as a model for developing new projects to capture market share in this highly profitable and growing industry,” says Kam Mahdi, CEO of CETY. “By vertically integrating the biomass projects into our business, we are also able to grow our heat recovery business horizontally. Our new renewable energy biomass projects are expected to further expand our goal of becoming a complete solution for industrial and municipal scale projects in the strategic markets we are targeting.”
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