Atlas Carbon Seeking Expansion Money
Saturday, October 08, 2016
Energy Capital Economic Development assisted Atlas Carbon in seeking a $25 million loan from the Wyoming Business Council and State Treasurers Office Large Loan Fund. Atlas Carbon is seeking the loan to expand its activated carbon plant in Gillette. The company now produces about 16 million tons of activated charcoal per year and operations became 24 hours a day, seven days a week this past summer. The plant expansion would boost production to 108 million tons per year, increase full-time employees from 12 to 32 and provide an economic boost to Campbell County and the state, according to Atlas Carbon’s proposal.
The jobs created in the expansion would inject about $2.2 million in sales and tax revenue over the life of the loan, according to a press release from the Business Council. Jobs created would exceed local wages by 39 percent. Activated Carbon is a value-added coal based product that is used to filter air, water and other things. If you have a water filter in your home, it uses activated carbon as the filter material. This is the very type of industry that we need in Wyoming because it adds value to one of our natural resources and diversifies our state’s economy and provides good, well-paying jobs.
SLIB approved partial funding of $15 million.
Category: Success Stories