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VitAG Corp. to get $60 million to build plants |
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Thursday, 07 August 2008 |
SCBIZ Daily Staff
BEECH ISLAND – Boston–based Denham Capital said Wednesday that it would invest up to $60 million in VitAG Corp., a South Carolina company that has created a process to convert municipal biosolids, a byproduct of wastewater treatment plants, into high-nitrogen fertilizer. The investment will pay for the construction of multiple biosolids-to-fertilizer manufacturing plants.
"Denham's investment in VitAG is an opportunity for Denham to participate in the global fertilizer market in an environmentally sensitive manner," said Bill Zartler, a managing partner of Denham Capital. "We look forward to partnering with the innovative and experienced VitAG team on the execution of their business plan."
VitAG’s process creates a granular, high-value fertilizer product that meets and exceeds the USEPA Class A and Exceptional Quality standards for biosolids-containing products.
"The key to VitAG's technology is that it is environmentally-friendly," said Jeffrey C. Burnham, president and CEO of VitAG Corp. "In addition to use in traditional fertilizer markets for crops, turf and ornamental production, VitAG fertilizer is ideal for boosting production of bio-energy specific crops.”
The small nature of a VitAG manufacturing facility allows it to be located at or near existing municipal wastewater treatment plants and to be sized according to the treatment plant's biosolids output. VitAG has already formed strategic partnerships with consulting, engineering and fertilizer equipment companies for the planning, engineering and construction of the VitAG facilities.
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