JOHNSTON – A New Jersey-based energy company plans to relocate its headquarters to Johnston where it wants to invest $10 million to build a 7-megawatt, medical waste-to-energy power plant.
Nicholas B. Campanella, CEO of Sun Pacific Holding Corp., told Providence Business News on Monday the company also plans to grow up to 50 employees and will seek state incentives from R.I. Commerce Corp.
“We’re looking to relocate into Rhode Island and we picked Johnston because it’s a business-friendly town in a business-friendly state,” Campanella said.
The company, which trades on over-the-counter markets, plans to site the facility in a 30,000 square-foot building on Industrial Lane in Johnston. Campanella said he plans to file a permit application for the facility with the R.I. Department of Environmental Management within the next couple weeks.
The goal, he said, is to become operational in June.
The facility would process up to 70 tons of medical waste per day and generate up to 7 megawatts of electricity to sell back into the electrical grid.
Campanella said the plan is to partner with local haulers, doctor’s offices and hospitals to source the waste. He said Sun Pacific Holding current employees about 35 people, a number he hopes to grow up to 50.
Sun Pacific Holding said the Johnston facility, located within 5 miles of the state’s central landfill, would be the first in New England to treat medical waste that “creates clean energy and reduces landfill capacities, while creating a multibillion dollar recurring revenue stream for our company.”
The company, which estimates the project would generate about $10 million in revenue each year, said the global medical waste market is expected to reach $33.4 billion by 2025.
The company, Campanella said, has had preliminary discussions with Commerce and plans to apply for state incentives.