Word: reds
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Denham Capital Management announced late last week that the firm has invested in Recycled Energy Development (RED), an Illinois-based energy recovery company that is developing a new form of recyclable energy that could vastly reduce carbon emissions in factories...
...RED specializes in improving the efficiency of major industrial plants by installing technology that captures the heat created during production, harnessing it to provide power for the plant...
Many major industrial firms have declined to implement the technology because of the initial cost, estimated in the tens of millions, but Denham hopes their investment will enable RED to overcome this hurdle...
Thomas R. Casten, chairman of RED, said he blames the lack of enthusiasm in his company’s technology on the structure of the energy market...
Denham’s investment will allow RED to cover factories’ initial costs of installing its technology in exchange for long-term “power purchase agreements...