Toxic Waste Gasification Firm Secures $90 Million

26 January 2012

Recently formed industrial, hazardous and toxic waste gasification company based in the Baja Mexico/California region, Scorpex, has secured $90 million financing commitment from International Renewable Energy Facilitation Company (InREFco) of Magalia, California.

According to Scorpex, the commitment is for the financing of waste gasification/thermal oxidation equipment at its site in Ensenada, Mexico.

The company said that the financing is linked to the recent purchase contract signed with International Environmental Technologies, Inc. (IET).

InREFco specialises in the financing of waste gasification/thermal oxidation equipment. It also finances renewable energy and 'green' projects for businesses and governments.
According to Scorpex, InREFco?s investment is an endorsement of its waste gasification strategy.

The company added that with its affiliate IET and new relationship with InREFco, it anticipates additional financing commitments within the next 30 days for its initial site and other potential locations.

InREFco and Scorpex are negotiating the terms of the financing of equipment purchased from IET for the Ensenada, Mexico site.


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