Grimsby's Mayor says biodigester is sold wiping out debts from failed project
The Mayor of Grimsby says the town is one step closer to selling its biodigester facility, calling it outstanding news for taxpayers.
Jeff Jordan announced that White Owl Limited has agreed to buy the Grimsby Biodigester facility, saying the agreement will wipe out all bank debts associated with previous losses, and property taxes owing from failed project.
The biodigester was supposed to use agriculture waste to create methane inside the unit, which would then power turbines to create electricity to power the grid.
News of the project's failure came following the municipal election last October and has sparked an 18 million dollar lawsuit filed against three people including former Mayor Bob Bentley.
Jordan says through the sale of the biodigester, any potential impact on Grimsby taxpayers that may have arisen from these liabilities will be eliminated.
He says the sale significantly mitigates the financial losses incurred under previous management, and by attracting new investment in Grimsby, adds to our local economy and our community.
Through Escarpment Renewables, White Owl will own and operate the Biodigester facility, which converts organic waste to electricity.
Company official, Blair McArthur says they intend to improve and expand the digestion facility, to turn it into an operation we can all be proud of.
He says the expansion of the facility will create jobs and provide opportunity to develop business relationships in Grimsby and the Niagara Region.