MORRISTOWN, N.J., Nov. 1, 2011 /PRNewswire/ -- Covanta Energy, a wholly-owned subsidiary of Covanta Holding Corporation (NYSE: CVA) and a world leader in the development and operation of Energy-from-Waste (EfW) and other renewable energy projects, today announced the launch of Covanta 4Recovery. The newly named business unit unifies Covanta's merchant services subsidiaries (formally Covanta Secure Services and TransRiver Marketing Company) to better leverage its broad array of services and capabilities to meet increasing demands in geographic scope and customer needs for sustainability solutions. Covanta 4Recovery offerings include waste procurement and logistics, environmental services, metals recycling, e-waste recycling, and waste customer support.
The name "4Recovery" encompasses the central part of Covanta Energy's business – "Recovery" or the 4th R in the waste management hierarchy after Reduce, Reuse and Recycle.
"As a result of company growth in the last decade, we see an excellent opportunity to expand our merchant service offerings to take advantage of new business opportunities including recovering more materials for recycling and providing our customers with even more sustainable solutions for waste disposal," said Seth Myones, president of Covanta Americas.Merchant services under Covanta 4Recovery include helping organizations with recycling and energy recovery initiatives to reach zero landfill status, in addition to secure destruction. The unit is also responsible for procuring waste volumes to utilize the portion of waste disposal capacity at Covanta Energy's EfW projects which is not dedicated to municipal clients to keep facilities operating at full capacity. "Covanta 4Recovery is able to provide customers sustainable alternatives to landfill disposal, strategies to reduce greenhouse gas emissions and environmentally responsible recycling services," continued Myones. Recovering energy from residual waste left over after recycling at Energy-from-Waste facilities (also referred to as waste-to-energy), offsets greenhouse gases and produces much needed renewable energy; reduces landfill use which preserves open space; protects the environment by employing state-of-the-art equipment and systems; and maximizes recycling and the reuse of resources.
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