Astra Energy Inc. (Astra) announced the closing of a joint venture transaction with Powertron Global LLC (Powertron) to build a power company in the waste-to-energy sector.
Astra and Powertron intend to own and operate these projects as an independent power producer, selling that power to customers while providing them waste-to-energy solutions on a long-term contract basis.
The two companies will work together to combine projects and their resources to execute more efficiently. This strengthens the overall potential for financial success and profitability and together the partners are quickly identifying and advancing a portfolio of suitable projects.
The projects will address accumulating waste in many regions, generate incremental power, improve reliability of electricity delivery critical to a growing economy and reduce carbon emissions. The success of the project will also create both direct and indirect jobs and positively affect other sectors of the economy that primarily rely on a consistent and cost-effective supply of electric power.
