Taylor Recycling Receives Good News from DOE

U.S. Senator Charles Schumer (D-N.Y.) and Congressman Maurice Hinchey (D-N.Y.) have jointly announced that the U.S. Department of Energy (DOE) has given initial approval to Taylor Recycling Facility for a $100 million loan guarantee for the company to build a biomass facility in Montgomery, N.Y.

The DOE says it has begun its final due diligence review of the project.

If built, the site would be among the nation’s first commercially-sized biomass gasification facilities using municipal solid waste to produce electricity.

Taylor Biomass Energy submitted the first part of its application for the loan guarantee in September of 2009. After receiving approval for the initial application, the company submitted the second phase of the application in January of 2010.

The company says it recently received notification that its project was among a handful to move forward toward final federal review. In addition to the federal loan guarantee, the company will be entitled to receive a 30 percent federal tax credit available for renewable energy projects once it begins to generate electricity. Schumer and Hinchey both supported the renewable energy tax credit.

Taylor Biomass Energy previously received funding for this project through the New York State Energy Research and Development Authority (NYSERDA) and says it has worked with local and state agencies to move its initiative forward. Taylor Recycling Facility collects and processes construction and demolition materials for recycling.