Inentec, a US-based provider of renewable fuels from waste, has acquired its joint venture chemical producer.
The joint venture partner in Inentec Chemical, Lakeside Energy, has taken a minority stake in Inentec as part of the deal. Lakeside is owned by private equity firm American Securities and partnered with Inentec in 2008 to form the chemical subsidiary.
The acquisition completes Inentec’s purchase of its joint venture subsidiaries. In October, US-listed garbage disposal provider Waste Management (WM) exchanged its equity in S4 Energy Solutions for a stake in Inentec. S4 had been formed by WM and Inentec in 2009 to design, build and operate a waste gasification plant using Inentec’s Plasma Enhanced Melter (PEM) technology.
Joseph Vaillancourt, managing director of WM’s Organic Growth Group, which handles it corporate venturing deals, said: “Changing our investment from a joint venture development into an equity position with Inentec is more consistent with the company’s other portfolio investments. We are committed to the advancement of the PEM technology and look forward to the operation of the 25 ton per day commercial demonstration plant at our facility in Arlington, Oregon.”