Synthica Energy, Power and Rubber Supply deals near closing
Posted August 21, 2023 in Authority News, Industry
Two companies looking to open new facilities in the Northwest Georgia Regional Industrial Park near Shannon expect to close on the property in the next few months.
The industrial park is jointly owned by Floyd and Gordon counties. It’s bordered by West Hermitage Road and Calhoun Highway near the Ball Container facilities.
In November 2022, Synthica Energy began the process of purchasing a piece of property between Calhoun and Rome off Ga. 53 for Phase I of a new facility to produce natural gas.
Synthica representatives asked for a 60-day purchase and sale agreement extension to satisfy a required public comment hearing prior to getting Department of Natural Resources approval.
“They’re ready to close as soon as that is issued,” said Missy Kendrick, president of the Gordon County and Floyd County Joint Development Authority, which held its quarterly meeting Wednesday.
The Ohio-based company that converts organic industrial byproducts into natural gas is in a contract to purchase a 10.4-acre parcel of the park. Synthica Floyd will invest $38,250,000 and create 15 jobs with an average wage of $43 an hour.
The Floyd County facility will apply an anaerobic digestion process to organic industrial byproducts to produce renewable natural gas that will be utilized by industrial gas customers. Regional manufacturers will provide the industrial byproducts that would otherwise go into landfills.
The natural gas created is injected into the existing natural gas pipeline system and distributed throughout the network. Synthica’s stated mission is to reduce landfill organics, increase recycling, and create an accessible solution to dispose of food and organic waste while benefiting both producers and their communities.
The company has other facilities in development across the United States. The Kentucky plant, Synthica Lebanon Junction, uses organic waste from bourbon distilleries and other businesses in the food and beverage industry.
The other business that is expected to close on a property in the industrial park is Alabama-based Power and Rubber Supply. The authority approved the sale of 10.4 acres for $35,000 an acre in July.
According to the manufacturer’s website, Power Rubber and Supply distributes and services industrial hoses, bearings, power transmission and rubber products.
The company plans to invest $4.2 million in the new facility and expects to begin construction by early 2024. That facility will employ 16 to 20 people. In addition to its headquarters and conveyor belt division in Tuscaloosa, Alabama, PRS also has operations in Alabaster and Mobile, Alabama.
Authority Chair Jesse Vaughn said he stopped by the PRS Tuscaloosa plant on a recent trip to get his daughter to college.
