Recycled Energy Development (RED) and Eastman Kodak Company (Kodak) have closed their deal to transition Kodak’s utility infrastructure at Eastman Business Park (EBP), one of the nation’s largest industrial complexes, to RED. The utility business in Rochester, New York, today provides 125 megawatts of electric capacity, steam, chilled water, compressed air, industrial water, sewer services, nitrogen, natural gas and potable water to the Park’s 40+ owners and tenants. RED-Rochester plans to make significant investments over the next five years in a variety of energy efficiency projects and to convert the plant from coal to natural gas.
“RED-Rochester looks forward to supporting the Park’s revitalization and to working with a great staff that has operated the facility for many years,” said RED Chief Executive Officer Sean Casten.
An acquisition agreement between RED-Rochester and Kodak was signed on December 21, 2012, and the parties have been working through 2013 to finalize customer contracts, secure various operating permits, and coordinate with Kodak’s bankruptcy process.
Casten particularly thanked New York officials for their support and environmental and regulatory permits, saying, “It’s been a pleasure working with state leaders committed to bringing economic development and jobs to the region.”
“Eastman Business Park is delighted that RED-Rochester is investing in infrastructure, helping ensure the Park is an attractive place to do business,” said Michael Alt, Director of Eastman Business Park. “Kodak will continue to work closely with RED-Rochester to make EBP one of the most competitively priced and attractive industrial and technology parks in the nation for both our current tenants and for those who choose to make EBP their home in the future.”
According to Casten, “Eastman Business Park will serve as a model for how industrial facilities across the country can meet new environmental standards (particularly the U.S. Environmental Protection Agency’s Maximum Achievable Control Technology standard for utility boilers (Boiler MACT).”