Updated 12/21/2012 11:19 AM
Recycled Energy Development Acquires Eastman Business Park Utilities
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Changes are in the works for the Eastman Business Park. Eastman Kodak announced it reached an agreement with Recycled Energy Development for the company to take over operating the park.
RED plans to convert the coal-fired power plant to natural gas. The company's CEO says in addition to buying the 100-year-old utility business, it also entered a 20-year contract to continue services at the park.
Sean Casten says the sale comes with some challenges.
"Our challenge is to convert it to natural gas and increase the efficiency of an already efficient park. So what that's going to mean We're going to keep the entire infrastructure of this park in place. There's a passion for efficiency we don't want to frustrate," Casten said.
RED plans to invest between $40,000 and $80,000 in the park and says it will retain jobs.
Eastman Business Park is one of the nation's largest industrial complexes.