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Welcome to 2020! In this newsletter we are recapping some of our key projects from 2019 and looking forward to more success stories this year and beyond.
S
ustainable redevelopment took a big step forward in 2019 - more and more companies are choosing to transfer environmental liabilities and repurpose old industrial assets for new utilization.
At ELT, we have
been trusted to assume environmental liabilities on behalf of some of the world's most respected companies. Today we are using our talents and capital to transform these retired industrial liabilities into productive and sustainable assets.
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ACQUISITION
ELT Acquires Retired Fox Lake Power Plant from Alliant Energy
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In 2
019,
ELT announced the
purchase of the retired Fox Lake Generating Station from Alliant Energy's Iowa energy company.
The transaction included the purchase of real estate assets, machinery & equipment, and the assumption of legacy environmental liabilities associated with the site. ELT affiliates will now manage decommissioning and demolition, as well as environmental remediation obligations going forward.
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ACQUISITION
ELT Acquires Retired Meredosia Power Plant from Ameren
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In 2
019, ELT announced the purchase of the retired Meredosia Power Station from Ameren Energy Medina Valley Cogen LLC, a wholly-owned subsidiary of Ameren Corporation.
The transaction included the purchase of real estate assets and the transfer of legacy environmental liabilities.
ELT will now oversee decommissioning, demolition, environmental remediation, and site redevelopment going forward.
Throughout the process, CDC will be finding end users who could benefit from the site's attractive development features, which include 800 feet of mooring cells, an offloading facility with conveyor on the Illinois River, a Norfolk Southern rail spur, and access to high-voltage, bulk electrical power from Ameren Illinois.
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ACQUISITION
ELT Acquires 600-Acre Shuttered Chemical Plant, Assumes Environmental Liabilities
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In 2019,
ELT announced the transfer of legacy environmental liabilities and the purchase of real estate assets at the shuttered Fibrant chemical manufacturing plant located in Augusta, Georgia.
The sprawling 600-acre complex will now be entered in to a cleanup program designed to reposition the former chemical plant for new utilization. Preliminary activity is expected to include environmental remediation, demolition of antiquated plant facilities, liquidation of surplus equipment, and extensive redevelopment planning.
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ACQUISITION
ELT Acquires Retired Manufacturing Site in Lake Charles, LA
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In 2019,
ELT announced the purchase of a retired manufacturing plant in Lake Charles, LA from CertainTeed LLC.
The transaction included the purchase of real estate and a corporate indemnification for legacy environmental liabilities associated with the site. ELT and affiliates will now oversee demolition of the site, with an eye to redevelop shortly thereafter.
Redevelopment activity is expected to include permitting, removal of universal waste, and demolition of most of the buildings and infrastructure on site. ELT expects the site to be fully demolished by April 2020.
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ACQUISITION
ELT Acquires Retired Industrial Site from Major Manufacturing Company
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In 2019,
ELT announced the purchase of a 300,000 sq/ft retired Midwest manufacturing facility on 30 acres from a large, global industrial manufacturing company.
The transaction included the acquisition of real estate, surplus industrial assets, and a corporate indemnification for legacy environmental liabilities associated with the site.
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REDEVELOPMENT UPDATE
Transforming the Largest Coal Power Plant in New England
-- 2015 --
-- 2019 --
-- Projected Site Layout --
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In 2019, CDC and affiliates took major strides to reposition the former Brayton Point Power Station site on the south coast of Massachusetts - remediation, demolition, and extensive redevelopment planning.
Expected to generate over $1 billion in new development activity, t
he new "Brayton Point Commerce Center" will leverage existing infrastructure to create a new development with a focus on manufacturing, port operations, and logistical support for the offshore wind energy sector.
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REDEVELOPMENT UPDATE
Demolition of 4.8 MSF Automotive Manufacturing Plant
-- 2018 --
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In 2019,
Industrial Demolition LLC razed the 4.8 million sq/ft former GM Janesville Assembly Plant in Janesville, Wisconsin.
Following the purchase of the 250-acre retired manufacturing plant in late 2017, CDC and affiliates have been working to demolish and reposition the site. Activities to date have included the removal of asbestos containing materials and universal waste, environmental remediation, site-wide demolition activity, and the removal and recycling of demolition debris and scrap materials.
Today the site is ready for the next phase of progress - redevelopment. Although the automotive plant no longer exists, the site itself maintains many of the same features that made the site successful in the past: 250 contiguous acres of development-ready land, access to rail, access to regional highways, and a strong local talent base.
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REDEVELOPMENT UPDATE
Large Mixed Use Development on Retired Steel Mill Site
-- VIDEO: New Claymont Train Station --
-- First State Crossing Office Rendering --
-- First State Crossing Development Layout --
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Plans for First State Crossing have evolved significantly since ELT announced plans to purchase and assume environmental liabilities at the former Evraz steel mill in 2015.
CDC's latest concept includes 3.75 million square feet of new construction, breaking down to 2.09 million for residential (620 townhomes and 576 apartments), 844,000 for offices, 370,000 for industrial, 275,000 for office-industrial, 125,000 for a hotel (120 rooms) and 47,000 for retail.
There is also a new rail station in the works, and the retrofit of an existing building to provide substance-abuse treatment services.
Brett Saddler, executive director of the Claymont Renaissance Development Corp., believes First State Crossing will bring "the largest economic development impact" of any project now under way in the state.
More about the project
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ELT WHITE PAPER
Using Private Investment as a Catalyst for Redevelopment of Superfund Sites
-- ELT's groundbreaking purchase and environmental liability assumption of 2 California Superfund Sites --
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ELT WHITE PAPER
Effective Redevelopment Strategies for Retired Power Plants
-- Since 2014, ELT has purchased power plants from companies such as Dynegy, AEP, Alliant, Ameren, DTE, and others, representing over 3600 MW of retired generation capacity --
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In 2019, ELT's Randall Jostes (CEO) and Colleen Kokas (EVP) delivered a deep-dive analysis to the American Bar Association's Section of Environment, Energy, and Resources Fall Conference on the topic of power plant redevelopment strategies.
The presentation's corresponding white paper is now available and we hope you find it beneficial.
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VIDEO
Implosion of 500' Cooling Towers at Brayton Point
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These two 500-ft cooling towers at Brayton Point came crashing down in Somerset, MA on April 27, 2019. Since purchasing this retired power plant in January 2018, CDC has been strategically repositioning the site for its highest and best use. Once the largest coal-fired power plant in New England, the implosion of the cooling towers at Brayton Point represents a significant milestone towards the development of "Brayton Point Commerce Center" - a world-class logistical port and support center built to support renewable energy and the emerging US offshore wind sector.
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VIDEO
First Shipment to Reclaimed Port at Brayton Point
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Once used to import coal, the marine terminal at Brayton Point Commerce Center is being repurposed to handle bulk cargo, heavy lift cargoes, and building materials for multiple industries, including offshore wind. The first cargo shipment took place on September 25, 2019 and contained 30,000 MTs of de-icing salt, imported from the Atacama Desert region of Chile. This was the first international vessel call under the new developer Commercial Development Company, Inc. (CDC), following the acquisition of the 306 acre site in January 2018.
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Surplus Machinery & Equipment Available for Purchase
From Multiple Retired Brownfield Sites Across North America
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Industrial Asset Recovery Group LLC (IARG), a CDC affiliate, manages the liquidation process at CDC's many ongoing brownfield redevelopment projects.
IARG's management team has over 30 years of experience, which include over 1,500 industrial liquidation projects and over $900 million in accumulative surplus assets recovered to date.
If you are interested in buying or selling surplus equipment in 2020, please
call
Stuart Millner at
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EAG Achieves Widespread Environmental Cleanup Throughout Canada
Shell Global Portfolio Update
In a series of successful transactions from 2014 to 2016, Shell Global transferred over 150 environmentally-impacted sites and associated liabilities to ELT.
In 2019, EnviroAnalytics Group (EAG) and EAG Canada made major strides in progressively completing environmental remediation at these sites - all in accordance with regulatory standards and contractual obligations.
These transactions enabled Shell Global to divest non-core assets, transfer significant environmental liabilities to ELT, secure environmental cleanup, and reallocate capital and manpower to core operations.
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- 99% of the project milestones have been completed as of December 2019
- 100% completion is expected within 5 years of the transfer (5 years earlier than the 10 year goal set out in the Agreement).
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ELT Facilitates Distressed M&A and Corporate Divestitures
Remove Transactional
Deal Breakers
Above: fully-leased 180,000 sq/ft manufacturing facility, acquired by CDC as third-party during M&A transaction
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ELT has played a critical role in absorbing unwanted assets and liabilities during distressed M&A transactions and corporate divestitures.
ELT is able to carve out assets and environmental liabilities that prevent risk averse deal partners from closing transactions.
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Seeking to Assume Environmental Liabilities and/or Purchase Retired Real Estate Assets in All Sectors
If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a confidential discussion.
ELT's core offering includes:
- Environmental Liability Transfers
- Brownfield Real Estate Purchase
- Liability Transfer + RE Purchase
- Guaranteed Cost Certainty
- Corporate Indemnification
- Maximum Value for Retired Assets
- Transfer of Regulatory Obligations
- Transfer of Post-Closure Obligations
- Sustainable Redevelopment Planning
- Preservation of Legacy & Brand
Contact: John Kowalik
Phone: 314-835-2813
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About Our Group
Environmental Liability Transfer, Inc. (ELT), along with four distinct affiliate companies under common ownership, have become one of the most impactful brownfield redevelopment and environmental remediation and consulting firms in North America.
By leveraging the core competencies of its affiliate partners, ELT now has the ability to consolidate multiple elements of brownfield redevelopment into ONE comprehensive value proposition - Real Estate Purchase, Environmental Liability Assumption, Fixed Price Environmental Remediation, Demolition, and Liquidation Services.
For more information on ELT or our affiliates, please visit our websites (right) or download the
ELT Brochure.
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Contact Us
For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities or brownfield properties, please contact us.
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