The new sustainable manufacturing factory for consumer goods will be powered by renewable energy
Sustainability solutions provider Zume and Zefferson Enterprise Energy and Hilltop Securities have secured $122m in bond financing to construct a new compostable packaging facility in Texas, US.
Situated in Lufkin, the new sustainable manufacturing factory for consumer goods will completely use renewable energy from an onsite plant.
Hilltop Securities and Jefferson completed two financing transactions with $22m and $100m for the new manufacturing facility.
The third financing transaction, for an additional $100m, is scheduled for next year. This funding will help further develop the compostable packaging facility.
Jefferson Enterprise Energy has recommissioned a 55MW biomass power facility to supply energy for a renewable fibre pulping facility.
The power plant will also supply energy to Zume’s robotic machinery and advanced moulded fibre operations that offer an alternative to single-use plastic for global brands.
Jefferson Enterprise Energy founder and CEO Al Salazar said: “Waste plastics are one of the greatest ills to our environment and we must come together to create alternative methods to fix this problem.”
The new green energy and manufacturing facility will feature a 400-tonne per day pulp mill, which will manufacture high-strength renewable pulp from wood waste and agricultural waste materials.
The pulp will be used by Zume’s manufacturing operations to produce renewable fibre products to be used for a range of CPG products supplied by global brands.
Zume chairman and CEO Alex Garden said: “To fix the unsustainability in the food supply chain, it is important that we design not only for the sustainability of products, but also the way in which we build them.
“This will be a blueprint for the making of an entirely sustainable packaging system and we’re proud to secure this funding to scale our vision.”