Companies that are committed to sustainability and innovation make great partners for Argo, and Covanta Energy does just that.
Covanta is reducing the volume of landfill waste by 90 percent while generating over 500 kilowatt-hours of electricity for each ton of waste incinerated.
At their Pinellas County, Florida facility, Covanta incinerates waste at high temperatures, turning water into steam. A turbine generator converts that energy into electricity, which is used for the facilities’ own industrial processes and then sold to local utility companies.
When Covanta assumed operation of the facility, it needed $200 million worth of upgrades. Argo’s surety bonds protected the taxpayers’ investment to get the work done.
“Without that bonding capacity that (Argo) provides, we wouldn’t be able to do the refurbishment work, and we wouldn’t be able to operate the facility,” said Jim Grizzetti, Covanta’s Vice President of Risk Management. “We’ve got the county, (Covanta) and Argo all working together to serve the needs of the community.”
Learn more about the partnership between Covanta and Argo in the 2017 Mid-Year Report.