This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Eastman Business Park Utilities To Be Acquired By Recycled Energy Development

Eastman Kodak Company and Recycled Energy Development (RED) today announced an agreement under which RED will acquire, upgrade and operate the utility infrastructure of Eastman Business Park (EBP), one of the nation’s largest industrial complexes. This agreement provides stability for EBP and its tenant companies and supports the Park’s revitalization.

According to RED Chief Executive Officer Sean Casten, the company is also prepared to further invest in order to meet new environmental standards (particularly the U.S. Environmental Agency’s Maximum Achievable Control Technology standard for utility boilers).

“Depending on final compliance and conversion plans, RED plans to invest $40-80 million to convert the coal-fired power plant to natural gas,” said Casten. “This will increase the cogeneration system’s efficiency, allowing us to continue to supply reliable and economical utilities services to the 37 tenants at Eastman Business Park, along with Kodak. These utilities include electricity, steam, water, refrigeration, compressed air, and nitrogen, as well as wastewater treatment.”

The EBP power plant utilizes highly efficient processes to generate steam, electricity, and chilled water. The plant has an electric generating capacity of 125 megawatts and also can deliver a similar amount of thermal energy to EBP in the form of steam and chilled water.

“RED’s investment in Eastman Business Park is a critical step in our collective efforts to revitalize the Park; it’s great news for the community, for the tenants of EBP and for Kodak,” said Michael Alt, Director of Eastman Business Park. “RED will work closely with Kodak and other major tenants of Eastman Business Park to offer competitively priced, reliable and sustainable services, to optimize energy efficiency on site, and to meet ongoing regulatory obligations.”

RED is an industrial energy efficiency firm whose core mission is to help companies profitably reduce greenhouse gas emissions. Its leaders have designed, owned or operated more than 200 energy recycling projects like the ones at EBP. RED will soon invest millions to increase the Park’s energy efficiency and utilities productivity in order to help attract new businesses and jobs to the region while ensuring compliance with MACT and other pending environmental regulations.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs