BREAKING NEWS: MRC completes sale of Hampden plant
HAMPDEN, June 30, 2023 - More than three years after shuttering the $90 million “waste-to-energy” plant here, the regional agency which handles trash from 115 towns, including all four towns on MDI, announced today it closed on the sale of most of the assets to a firm created to re-imagine the entire enterprise and to develop solutions which its investors hope will be marketable to municipalities all over the world.
The agency, Municipal Review Committee (MRC), and Innovative Resource Recovery (Innovative), the pioneering materials management company, signed an agreement to become co-owners of Municipal Waste Solutions' Hampden Facility.
“This collaboration marks a significant step forward in advancing sustainable waste management practices and promoting a circular economy in Maine,” said MRC Director Michael Carroll.
“The Hampden plant has long been recognized as a crucial hub for effective waste processing and recycling in the region. By bringing together the expertise and resources of MRC and Innovative, this partnership aims to enhance operational efficiencies, expand recycling capabilities, and further reduce the environmental impact of municipal solid waste,” he said.
MRC Board President Karen Fussell expressed her enthusiasm for the collaboration, stating, "This partnership between MRC and Innovative represents a powerful synergy in our mission to build a more sustainable future. By combining our knowledge, experience, and resources, we are poised to transform waste management practices, maximize recycling rates, and promote environmental stewardship within our communities."
It will be another two years before Innovative estimated it can bring the plant back to full operation - almost five years after the plant closed.
The municipal waste situation for MRC member towns is dire because an incinerator in Orrington used as a backup to the closing of the Hampden plant is now in foreclosure and scheduled to be auctioned off July 21. If that plant stays closed, all of the trash will be trucked to landfills.
James Condela, CEO of Innovative Resource Recovery, expressed his optimism for the partnership, stating, "Joining forces with Municipal Review Committee is a significant milestone for us. We are excited to contribute our expertise in resource recovery to the Hampden Facility, working alongside MRC to revolutionize waste management practices and foster a circular economy. Together, we are creating a partnership that is a model for other regions and communities to take for a more sustainable future for generations to come."
Innovative was created by the multi-billion-dollar West Coast investment firm, White Oaks Advisors, which did not need to raise the $20 million needed to restart the plant. It is hoping the Hampden plant can be transformed into a solution which can be replicated around the world.