FRANKLIN, TN and LINDEN, NJ – (October 30, 2019) – Aries Clean Energy has successfully completed the $65 million financial close for the Aries Linden Biosolids Gasification Facility in New Jersey, and construction has commenced. The financing included $50 million of “Green” tax-exempt bonds issued through the Union County Improvement Authority. This facility will divert 130,000 tons of biosolids from local landfills annually, and it will provide the lowest cost option for biosolids disposal in the NY/NJ Metropolitan area.
“The Linden facility will be the most advanced biosolids processing facility in the world utilizing our patented fluidized bed technology. By using our environmentally friendly, renewable system, we will convert biosolids into completely renewable, beneficial products. We are looking forward to investing in the local community and serving the region with sustainable biosolids solutions that will contribute to a cleaner, greener, healthier planet. – Greg Bafalis, CEO of Aries Clean Energy