Masdar Clean Tech Fund and Virgin Green Fund acquire
Texas metal recycling business
Masdar Clean Tech Fund and Virgin Green Fund announced
the buy-out of DuraTherm, Inc., a petroleum and metal
recycling business based in Texas City, Texas. The transaction,
structured as an asset acquisition, was supported by
debt from HSH Nordbank AG.
DuraTherm provides treatment services, either at its
facility in Texas City or with its mobile units at a
customer’s site, for waste streams generated by petroleum
and olefin-related industries. The proprietary technology
produces “clean” residuals while maximizing the recovery
of metal and oil values contained in the wastes.
DuraTherm addresses a variety of waste streams, including
oil-contaminated drill cuttings, refinery wastes, petrochemical
wastes, hydrocarbon-contaminated soils, spent catalysts,
and other petroleum-compatible residuals.
The new investors are providing additional capital to
support DuraTherm’s growth. DuraTherm will also invest
in improving and deploying its mobile DuraTherm Desorption
units, thus expanding its geographic availability to
both United States and international customers.
Kevin Trant has been hired as CEO to lead the next phase
of DuraTherm’s growth. Trant was previously with Siemens
Water Technologies where he was executive vice president
of its Services and Products Group, a division focused
on five business segments targeting municipal and industrial