The third time’s the charm for the shuttered former municipal waste and recycling facility in Hampden: a contract has been signed between the Municipal Review Committee (MRC) — which oversees waste disposal for 115 Maine towns and owns the facility under subsidiary Municipal Waste Solutions formed to buy the plant — and Innovative Resource Recovery, a company formed by global investment company White Oak.
“This partnership between MRC and Innovative represents a powerful synergy in our mission to build a more sustainable future. By combining our knowledge, experience, and resources, we are poised to transform waste management practices, maximize recycling rates, and promote environmental stewardship within our communities,” MRC Board President Karen Fussell said in a June 30 press release.
Innovative was the third prospective buyer to enter into an exclusivity agreement with MRC to complete the purchase but the only one to make it to the dotted line.“The way I look at it, slow and steady wins the race,” Fussell had said at a June 15 town hall-style meeting. “We had a couple false starts. Innovative’s approach has been very analytical, very thoughtful, with an eye towards the economics.”