Waste solutions company Brightmark Energy announced that it has dropped the word “Energy” from its name and will be known simply as Brightmark to better reflect the company’s mission and focus. The new name signifies the company’s growth trajectory in support of its mission to build a world without waste, as well as the outputs Brightmark produces other than energy, including clean water, wax, and the materials used to produce new plastics. Advanced plastics recycling, or plastics renewal, and renewable natural gas via anaerobic digestion will remain at the core of Brightmark’s waste solutions, said the company’s information.
Brightmark’s new goals demonstrate its commitment to putting its environmental values at the center of all it does, said the company. Over the next five years, Brightmark aims to divert 8.4 million metric tons of plastic from landfills and the natural environment, and offset the release of 22 million metric tons of green-house gas emissions.
“Simply put, Brightmark aims to change the world,” explained CEO Bob Powell. “Our team shares the imagination, grit, and optimism that is driving this company to globally scale solutions to our most pressing environmental challenges. In particular, our plastics renewal technology is poised to be a game-changer. We are able to single-stream plastics one through seven — including contaminated, littered plastics from our waterways — and transform this waste back into useful materials.”
Over the past two years, Brightmark has more than tripled the size of its staff, garnered $150 million in equity investments in its projects, and acquired proprietary technology that will create a circular economy for post-use plastics.
Brightmark has financed and constructed a $260 million, first-of-its kind plastics renewal facility in Indiana that will begin accepting 100,000 tons of plastics annually for conversion into new products beginning in early 2021. Additionally, the company recently announced a nationwide search for its next plastics renewal plant sites, with plans to invest $500 million to $1 billion in each location.