Power from recycled waste is Covanta Energy's forte. A major operating unit of Covanta Holding, the alternative energy power producer has interests in more than 40 specialized power plants, primarily in the US. Its plants use a variety of waste fuels, including municipal solid waste, and wood waste (biomass). Covanta Energy's specialized plants can convert 20 million tons of waste into more than 9 million MW hours of electricity annually and create 9 billion pounds of steam that are sold to a range of industries. Its energy-from-waste plants collectively save power generators the need to use 20 million barrels of oil equivalent each year. The company also provide waste management and recycling services.
The company has grown steadily through acquisitions. In a major expansion, in 2010 it acquired Montenay International (which handled the bulk Veolia Environnement US waste to energy operations) for $450 million.
In 2010 it also announced plans to develop a major energy-from-waste facility near Glasgow, Scotland. which will generate 24 MW of renewable electricity. It also agreed to build a $302 million expansion of the H-POWER Energy-from-Waste facility in Honolulu, by 900 tons per day, increasing the facility's capacity by 40%.
In 2011 Covanta Energy launched Covanta 4Recovery which merged its merchant services subsidiaries (Covanta Secure Services and TransRiver Marketing Company) to create greater efficiencies and better meet the increasing demands and geographic scope of its customers. Covanta 4Recovery offers waste procurement and logistics, environmental services, metals recycling, e-waste recycling, and other services. – less