The global waste management industry is forecast to surpass $560 billion by 2020 according to Statista.com. Development of innovative technologies and advanced waste collection solutions to enhance collection processes, as well as aid in developing a more green planet, has helped the market to achieve significant growth.
In addition to technological advancements, the market also witnesses trends such as expanding medical waste management services, lack of stringent regulations in developing countries and rising government initiatives.
BioHiTech Global, Covanta Holding Corporation, Casella Waste Systems, Waste Management and Republic Services are some of the active companies in the industry.
BioHITech Global has recently announced a partnership with Kinderhook Industries, a private investment firm that manages over $2 billion of committed capital, to create a “next generation” environmental platform services company.
Through a series of transactions, the two companies completed the acquisition of Gold Medal Services, a provider of solid waste collection in Philadelphia and Southern New Jersey markets.
Covanta announced on Monday that the Rookery South Energy Recovery Facility has been granted an environmental permit by the UK Environment Agency. The Rookery project, located in Bedfordshire, UK, will convert over 500,000 tons of residual waste per year into approximately 60 megawatts of low carbon energy – enough electricity to meet the needs of 75,000 homes.
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