Garb grabs pellet gear in asset purchase agreement

Florida-based Garb Oil & Power Corp. has entered into an asset purchase agreement, which included process equipment and a 40,000 square foot warehouse.

“The plant was in operation until late last year. They had a very similar process, and all of the equipment is remaining,” said Tammy Taylor, president and CEO of Garb Oil & Power. “The only thing we need to purchase is a dryer and pelletizer.”

Utilizing lumber mill scraps and yard waste, Garb intended to use the equipment to manufacture pellets as an alternative power fuel and for farm and agricultural applications. “Our initial target is to produce 200,000 tons per year,” Taylor said.

“The history of Garb, since the founder came to the company in 1980, has been recycling and renewable energy. The reorganization of Garb, since I came in, is building upon that and vertically integrating.  This wood pellet plant is using recycled material to create renewable energy,” Taylor said. The site will also produce excess electricity, but greater details on that venture would be available at a later date, she added.

The purchase agreement was estimated to be completed mid-summer 2014.