BioEnergy Hawaii LLC, a designer, developer and operator of waste treatment and alternative energy systems, has partnered with impact investment firm Ulupono Initiative to finance a resource recovery facility planned for the west side of Hawaii Island.
Ulupono Initiative is working with projects such as BEH to ensure Hawaii is self-sufficient in the key areas of waste reduction, renewable energy and sustainable local food production, according to a press release. The limited partnership will share all financial obligations and proceeds of the $50 million facility.
“We believe BioEnergy Hawaii’s planned resource recovery facility on the west side of Hawaii Island will substantially divert waste from going to the landfill to instead be used for recycling, compost and conversion of waste into energy,” said Ulupono’s General Partner Kyle Datta. “We’ve analyzed the state’s entire waste system across all counties and feel BEH’s integrated technology approach will not only benefit Hawaii County, but has the potential to be applied in other counties as well.”
The BEH project will accept municipal solid waste delivered by local waste collection companies, and divert 70 percent of it from the West Hawaii Sanitary Landfill.
“We are honored to have a significant investor such as Ulupono Initiative become a full partner in our waste conversion project,” said Kosti Shirvanian, president of BioEnergy Hawaii and its parent company, Pacific Waste, Inc. “Our missions and values are completely aligned. We are both concerned with the health of our environment as well as the long-term growth and sustainability of Hawaii. Most importantly, we both see waste as a valuable resource.”