Specialty metals producer Advanced Metallurgical Group (AMG) plans to double spent catalyst recycling capacity at its Ohio-based facility with the addition of a new greenfield plant.
AMG’s subsidiary AMG Vanadium will finance the expansion with proceeds from up to $350mn in tax-exempt bonds lent to the company by the Ohio Air Quality Development Authority, with repayment guaranteed by the parent company.
AMG Vanadium converts spent catalyst residues into ferro-vanadium and ferro-nickel-molybdenum alloy, which are primarily used by global steel producers, from oil refinery and power plant waste products.
The bonds are expected to be marketed by the end of June following necessary approvals from the Ohio Air Quality Development Authority.
AMG Vanadium filed a permit-to-install application with the Ohio Environmental Protection Agency citing an existing melting capacity of 41,968 short tons (st) per year as of 27 March 2018.
AMG Vanadium could not be reached for comment.
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