Dive Brief:

• BioTork, a biotech firm based in Gainesville, FL, could receive $50 million in revenue bonds to open a waste-to-energy (WTE) facility in Hawaii.
• The facility would convert agricultural waste into high-value products and and biofuels.
• The funding is a result of recently-passed state legislation in Hawaii that provides assistance to zero-waste projects. Funding is available to projects that transform crops, crop residue, energy crops and waste from farming into sustainable biofuels and co-products. 

Dive Insight:

The company manages other ongoing projects that fall under Hawaii's Zero Waste Program requirements, and the additional funds would be used to expand its development program. The plans include constructing a facility that could convert crops, bagasse and glycerol wastes into biofuel and feed stock. 

The Earth Engineering Center of Columbia University released a report that found that if there were an increased number of WTE facilities in operation across the U.S., the waste created in the country could generate enough heat for 10 million homes. The worldwide market for WTE is expected to hit $28.6 billion in revenue by 2016.