Dive Brief:
- Private equity-backed Reworld highlighted the increasing role it's playing in materials recovery, in the 2024 sustainability report it released last week.
- Reworld, which operates 37 thermomechanical treatment facilities across the United States, has been in the process of diversifying its asset base. Since 2021, when the company was acquired by EQT Infrastructure, its network of material processing facilities has grown from 19 to 40.
- Reworld touts the role of its MPFs and other waste facilities in producing energy or recycling materials. In 2024, Reworld processed 20.8 million tons of waste and recycled or reused 1.8 million tons, numbers which were roughly in line with the previous year.
Dive Insight:
Reworld rebranded from Covanta last year amid a strategic pivot to broaden its services. Reworld's MPFs accept and treat non-hazardous waste and wastewater. Accepted items include commonly recycled materials like paper, cardboard and plastics, as well as industrial waste and certain liquid wastes, like coolants and paints.
The company brought five new MPFs into operation last year, with a sixth planned for Park Hills, Missouri. Reworld is investing $7 million in that 150,000-square-foot facility, according to the Missouri Department of Economic Development. The facility will include Reworld’s alternative engineered fuels technology, ReKiln Fuels.
In its sustainability report, Reworld said it produced 30% more alternative fuel for the cement and lime industries and recovered 38% more petroleum in 2024 compared to the previous year.
Reworld's fleet also grew by 50% to roughly 3,000 vehicles over the past year. That's thanks in part to its acquisitions of EnviroVac Waste Transport Systems and R.E.D. Technologies, which offer additional transportation capabilities.
Growth has been more limited in Reworld's incinerator portfolio, though it is expanding a facility in Pasco County, Florida. The company has ceased operations at multiple facilities on the West Coast in recent years as it moves away from jurisdictions with more restrictive laws regarding waste combustion. The company continues to pitch its services in markets where disposal capacity is restricted, such as Connecticut.
Last year, Reworld owner EQT Infrastructure announced a deal to sell a 25% stake in the company to Singaporean sovereign wealth fund GIC. Executives said the deal would accelerate the company’s ability to offer waste solutions that avoided landfills.
