Benzinga | Nov 19, 2021 01:23PM EST

Fortress Transportation Forms JV With Clean Planet Energy For Green Recycling Facilities

* Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), and Clean Planet Energy, a UK green-tech company, formed a joint venture partnership to develop Clean Planet Energy USA ecoPlants in key North American markets.

* The ecoPlant will convert non-recyclable waste plastics into ultra-clean fuels and oils and circular-naphtha to support the manufacture of new plastics.

* The first facility is under development at Repauno Port & Rail Terminal in Gibbstown, New Jersey. The plant is planned to initially process 20,000 tons of waste plastics each year.

* The joint venture will be expanding its network of feedstock partners for non-recyclable plastic and is seeking to collaborate with firms that process or generate this waste.

* Price Action: FTAI shares are trading higher by 0.75% at $25.67 on the last check Friday.