Dallas-based private equity firm Tailwater Capital is partnering with another Texas company to provide financial and operational support to a waste-to-product manufacturer.
The local firm closed a joint venture with WM Organic Growth — a subsidiary of Houston-based Waste Management Inc. (NYSE: WM) — to support Continuus Materials, which develops and operates facilities that upcycle municipal solid waste into a roof building material called Everboard. The financial terms of the deal weren’t disclosed.
Continuus Materials will use the venture to scale production, develop facilities at WM sites and launch its first full-scale municipal solid waste-to-Everboard production plant. The plant is expected to produce more than 150 million square feet of roof material in the first three years. The company supplies the product to retail chains, industrial manufacturing facilities and distribution centers. The firm currently operates a pilot plant in Des Moines, Iowa.
Edward Herring, co-founding and managing partner of Tailwater, said in a prepared statement that the firm is committed to supporting sustainable solutions in the recycle and byproduct supply sector.
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