October 19, 2018 | CIG Tax Insights
Vernon, Calif. – Last Friday, after 6+ years of dreaming, planning, investing, procurement and construction, rPlanet Earth officially opened the doors to its 302,000-square-foot recycling and manufacturing plant in the City of Vernon.
rPlanet Earth’s one-of-a-kind, 80 million pound capacity facility takes in bales of post-consumer PET and processes them into bottle preforms, sheet and thermoform packaging. rPlanet Earth’s final products can contain a range of recycled content, including products up to 100% recycled PET. The facility is the world’s first completely vertically integrated PET conversion plant.
Led by co-CEOs Bob Daviduk and Joe Ross [pictured below], rPlanet Earth has been financed and funded by numerous private and public sources totaling over $100 million for this plant alone.
Our team at CALincentives was fortunate enough to be a part of this amazing grass-roots project—receiving honorable mention during the grand opening ceremonies by co-CEO, Bob Daviduk [pictured below with Alex Tran and Leslie McBride]. Our team lead rPlanet Earth to CAEATFA, California Competes and ETP awards totaling more than $10 million.