MANALAPAN, N.J., Jan. 22, 2018 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTCQB: SNPW)
Sun Pacific Holding Corp, SNPW, is expanding its current operations in the field of alternative energy with a waste to energy project in New England. The plant will be built in Johnston, Rhode Island on industrially zoned property. The plant will generate electricity from specialty wastes. The gasification technology will provide the most environmentally sound and economically viable treatment of waste primarily from medical, healthcare and pharmaceutical facilities. It will be reduced in volume by 93% without harmful air emissions. The process will minimize the use of landfill space and will also provide disinfection for waste that cannot be treated in autoclaves.
The waste processing will generate and sell electricity that will be tied into the local utility grid.
This aligns with Rhode Island’s energy policy, which demands that a certain amount of energy used by utility companies come from renewable sources. As of 2017, Rhode Island was one of 30 states abiding by the Renewable Energy Standard. The Renewable Energy Standard was established in 2004 and requires all electricity providers generate 38.5% of retail electricity through renewable resources.
This will be the only plant in Rhode Island and New England capable of treating all forms of medical waste and pharmaceutical waste. The benefit to the producers will be better service and pricing. The benefit to the region will be local treatment that will end the need to transport wastes as far as 600 miles for proper treatment.
SNPW will finalize the site agreements and local city approvals within the month. It has secured the technology and will review the plant process with officials of the Rhode Island state regulatory agency, DEM. Much of the waste stream will be supplied by one of the nation’s largest specialty waste collection and transportation companies.
The project, Renewable Energy Solutions of Rhode Island, is a joint venture with California based Renewable Energy Solutions. RES is developing comparable projects in four other regions of the country. The company management includes four 30 year veterans of the specialty waste industry.
The global medical waste management market is expected to reach USD 33.4 billion by 2025. The development of innovative manufacturing techniques in pharmaceuticals, medical devices is growing with rapid pace. The rise in hospitals, multispecialty clinics and diagnostic centers that require large number of inventories for day to day functioning is also leading to generation of more waste. Thus, overall growth in healthcare industry coupled with rising patient population requiring prolong medical and surgical aid is fueling the market growth.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (OTCQB: SNPW) uses management's knowledge and experience to serve its customers and now its shareholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. For more information, visit www.sunpacificholding.com.
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