Circular Services lands $5.05M from Connecticut Green Bank to expand organics recovery
What's the deal? Circular ServicesDealroom has a profile for this one. Try Dealroom → has raised $5.05 million in debt financing from the Connecticut Green BankDealroom has a profile for this one. Try Dealroom → to expand its Southington Campus, formerly known as Quantum BiopowerDealroom has a profile for this one. Try Dealroom →. The funding will boost the facility's capacity to process food and green waste and produce market-ready products such as bagged soil, compost, and mulch.
Where the money goes: The financing covers three project elements — equipment to recover organic fertilizer from the anaerobic digester process, a fully automated bagging facility for higher-value finished products, and de-packaging equipment to process packaged food waste that might otherwise go to disposal.
Why now? The Southington campus supports Connecticut's Comprehensive Materials Management Strategy targets and the expanded Commercial Organics Recycling Law. The state is working to divert organic material from disposal and build stronger in-state materials management capacity.
Quick re-raise: This is not the first time the Green Bank has backed the facility. In 2016, it issued a $2 million subordinated loan to develop Connecticut's first anaerobic digester, then under Quantum Biopower, helping mobilize private capital and produce renewable energy for the Town of Southington.
What's the endgame? The site houses a 40,000-ton-per-year anaerobic digester that produces about 1.2 megawatts of renewable energy, powering more than 800 homes plus Southington's fire station, wastewater treatment facility, and municipal buildings. Its broader permitted capacity exceeds 100,000 tons per year.
"Building on our existing partnership, the Connecticut Green Bank has once again provided exactly the kind of catalytic investment that turns ambition into action," said Brian Paganini, vice president of organics at Circular Services.
The signal: The re-raise shows how patient public capital can move proven facilities from food-waste-to-energy toward broader resource recovery. As Bryan Garcia, president and chief executive officer of the Connecticut Green Bank, put it, flexible financing plays a "catalytic role" in scaling durable infrastructure to meet state policy goals.
Image credit: Tonyglen14
