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Globe Specialty Metals in Recycle Energy Deal with Recycled Energy Development
Thomson Financial delivered by Newstex LONDON — Globe Specialty Metals Inc said unit West Virginia Alloys has entered into an agreement with Recycled Energy Development LLC to recycle energy, improving the efficiency of its operations while slashing greenhouse gas emissions and other pollutants. Recycled Energy Development will invest 45-55 mln usd to recycle hot exhaust into a net 40-44 megawatts of electricity generation, offsetting roughly one-third of West Virginia Alloys' electric consumption. The project in Alloy, West Virginia, expected to go into operation in 2010, will annually produce over 300,000 megawatt-hours of clean energy (NASDAQ:CLNE) and eliminate 290,000 metric tons of greenhouse gas emissions. ---------- Copyright © 2007 Thomson Financial News Limited
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