Covanta Acquires Massachusetts-Based Globalcycle and Global Remediation Services, Advancing Expansion into Highly Regulated New England Market

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Jan 05, 2023, 09:00 ET

Latest set of acquisitions significantly increases Covanta's footprint and provides additional resources to help customers achieve complete circular sustainability

MORRISTOWN, N.J., Jan. 5, 2023 /PRNewswire/ -- Building on a recent series of high-profile acquisitions, Covanta, a premier provider of environmental services for businesses and communities, today announced it is adding Globalcycle and Global Remediation Services to its stable of sustainable solutions. Acquiring these regional leaders in wastewater treatment, recycling and environmental services fast-tracks Covanta's expansion into the highly regulated New England market and advances the company's leadership in sustainable materials management. It also amplifies Covanta's ability to provide more last-mile sustainability solutions to remove unwanted byproducts and refuse and transform them into value-based materials. These additions bring Covanta's tally of acquisitions to seven under the direction of EQT Infrastructure, as it comes on the heels of the recent purchases of SGS Recovery, Frontier Fibers and Buffalo Fuel Corp., Miller Environmental Transfer, and Biologic Environmental Services and Waste Solutions.

"Covanta is making it possible for companies to meet the challenges of full-cycle sustainability," said Azeez Mohammed, President and CEO at Covanta. "In order to achieve full-cycle sustainability, companies must transform their byproducts using advanced sustainable solutions that break down unwanted byproducts into carbon-negative materials that are better for the environment. Adding Globalcycle's and Global Remediation Services' capabilities to our lineup further delivers that promise into practice."

The two new acquisitions underscore critical strategic synergies that have marked Covanta's recent purchases with their proximity to its waste-to-energy facilities in Massachusetts and Connecticut:

Globalcycle - Holding a unique designation as the only fully permitted industrial commercial wastewater treatment and recycling plant in Massachusetts, Globalcycle recycles wastewaters into a reusable water source for industrial applications. The company manages over 15 million gallons of wastewater per year for a broad spectrum of customers, including industrial manufacturers, construction companies and retailers.
Global Remediation Services - An environmental service business headquartered in Massachusetts, Global Remediation Services operates along the east coast. Its offerings span site remediation, logistics and disposal, emergency response, marine services and solar field development.

"We share Covanta's unwavering passion for sustainability and for delivering transformative environmental solutions customers can rely on. Globalcycle and Global Remediation Services are thrilled to be joining the Covanta team, not only because of this fundamental alignment, but also because our customers will benefit deeply from the breadth of solutions, depth of expertise, and quality of service that we will be able to provide together to help businesses meet ambitious circularity goals," said Tim Burbank, President of Globalcycle and Global Remediation Services.

About Covanta
Covanta is a leader in sustainable materials management providing environmental solutions to businesses and communities. Through its network of facilities and state-of-the-art services, Covanta is a single-source partner in solving today's most complex environmental challenges. For more information, visit covanta.com.

SOURCE Covanta Holding Corporation