Brightmark Energy closes US$260m financing for Brightmark Energy Ashley Indiana plastics-to-fuel plant

Brightmark Energy has announced the closing of its US$260 million financings for its commercial-scale plastics-to-fuel plant located in Ashley, Indiana. 

The financing for the project includes the US$185 million Indiana green bonds, which were underwritten by Goldman Sachs & Co. As part of the financing closure, Brightmark has become the controlling owner of RES Polyflow, the Ohio-based energy technology company that innovated the process for converting plastics directly into transportation fuel and other products.

The facility will utilize mixed waste single-use plastics and convert them into usable products at commercial scale. It can accommodate up to 100,000 tons of plastics into over 18 million gallons a year of ultra-low sulfur diesel and naphtha blend stocks and nearly six million gallons a year of commercial grade wax in a process that is expected to be 93% efficient. The outputs of this technology could also be used to produce the feedstocks necessary for manufacturing plastic again, thus creating the world’s first truly circular economy technology for plastics.

The groundbreaking for the start of construction is slated next month.