Development of Alta Sita Waste-To-Energy Refinery in ESL
As the first Opportunity Zone development project, the Alta Sita Waste Refinery, LLC was created as an alternative waste removal service for the City of East St. Louis, Illinois in the spirit of sustainability and renewable energy. The business was conceived to work in concert with two other renewable energy ventures within the City, Champion Power (a solar energy power company) and Rush City Harvesters (a renewable energy harvester manufacturer), the three of which form The RITE Plan Renewable Energy Grid System (RPG). The waste-to-energy facility’s main purpose is to produce energy to be sold directly into the energy grid. In this respect, the Company is capable of acting independently of the RPG concept, offering its produced energy for sale on the open market.
At the current stage of this project, we are looking to cover the final pre-development costs in order to finalize the existing financing to break ground. Howard Hughes Consulting as the City Developer of the City of East St. Louis secured ten acres on East St. Louis' South Riverfront for the AWR project. HHC secured this land directly from the City government on October 13, 2022. We are looking to finance the final feasibility report through donations, investments, etc.…
Klean Industries has been contracted by TRPI on behalf of the AWR project to provide a feasibility report and a turnkey operation that includes PPAs, feedstock agreements, and all management and operational needs. The report will include all land surveys, environmentals, market studies, and all standard items that are included in these types of professional reports. Klean will also include all requests made specifically by financiers to facilitate a successful closing. They have also indicated interest in adding to the capital stack through providing financing options. Once Klean Industries is paid per the terms of their agreement, their delivery of all items will be set. Klean's history in developing and operating these types of facilities is worldwide.
Holland Construction Services will be serving as Fee Developer and Construction Manager. They have been contracted by New Way Developments, the QALICB owner of AWR. Holland has provided evidence of their capability to provide a Bonded Guaranteed Maximum Price for the full development. When Klean Industries officially begins their work, TRPI with their inhouse team will assist Holland to complete this process expeditiously.
This decisive step to begin this ambitious project for the City of East St. Louis and its citizens will require $500,000 in pre-development capital to cover Klean Industries’ fees and complete pre-development expenses for the construction of our initial grid system component. Due to the sheer amount of sweat equity invested this is the only remaining gap to construction. In addition to any donation to help us on our way, we are also actively looking for interested investors for this stage of the project. To learn more about our investment opportunities and terms, please do not hesitate to contact us. We would love to help you become part of the team that is putting together this project for progress!
Most energy suppliers burn fossil fuels, a finite resource, in order to generate the electricity they sell. The Alta Sita Waste Refinery burn municipal waste, an unlimited resource due to people producing garbage. We can massively undercut their prices. We are essentially a power plant with zero fuel costs.
The Greater St. Louis Area on its own is home to a population of 2.8M, 1.1M households, and produces close to 3M tons of solid waste annually. In addition, the Mississippi River provides access to additional solid waste from all of the municipalities that border it north to south. The disposal or tipping fees landfills charge for solid waste in the St. Louis Metropolitan range from $62/ton (Waste Management) to $223+ (Champ Landfill), while the national average is a little over $54/ton.
The Waste-to-Energy component of the grid, the Alta Sita Waste Refinery, serves as an alternative waste disposal option to traditional landfills and offers a disposal fee of $30/ton. Furthermore, the sheer volume of tires discarded each year – almost three hundred million tires in the United States alone – makes safe disposal difficult. AWR will offer free tire disposal as well.
With access to the large quantity of solid waste and tires that AWR has, it is able to process up to 6,000 tons/day of solid waste and four hundred tons/day of tires. Collectively this produces 14,000 tons of steel ($250/ton), 160,000 tons of mixed metals ($160/ton), 51,800 tons of carbon black ($1200/ton), 69M+ gallons of diesel fuel ($3.60/gal), and 1.068 Billion kilowatts per hour of energy ($0.10/KwH) to be sold on the open market.
The Facilitator, The RITE Plan Initiative 501(c)3, will be using the investment proceeds to cover soft costs related to the closing of existing financial commitments related for construction of Alta Sita Waste Refinery. It will be leading with its Waste-to-Energy facility, the Alta Sita Waste Refinery. Construction costs of the Waste Refinery amount to $495M. Upon completion in a 0% Capital Gains Tax Opportunity Zone the Waste Refinery has a present value of over $11M per 1% of membership interest. The Waste Refinery also generates $99M in Renewable Energy Tax Credits (RETCs). As a 501(c)3 acting as a Designated Zone Organization (DZO) under Illinois law, The RITE Plan Initiative is allowed to offer flow through 2:1 State and 1:1 Federal Tax Deductions. It is also important to note that for financial institutions this investment meets Community Reinvestment Act qualifications.
The RITE Plan Initiative 501(c)3's partners and construction team collectively has over $2B in real estate development experience and are fully insured. Team members have done work for the Federal, State, and Local governments in the State of Illinois.
The spirit behind this effort is the shared notion that "It's time to do RITE by the people"
For information regarding our Grid Operations & Facility Manager, Financial Partners, Construction Team Members or to receive a copy of “The RITE Plan Legislation” that the City of East St. Louis passed as a funding mechanism for our first grid system, please contact us or visit our website at www.theriteplaninitiative.org.
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