Spokane, Washington’s waste to energy company Waste to Environment is considering a merger with its old foe Coal Energy, a new report indicates.
The merger could save the company millions in annual revenue and save Spokane’s coal plants from shutting down, the Associated Press reported.
But it could also be a boon to coal’s competitors, according to Waste to Environmental CEO Rob Fisk.
“We are considering this as a potential path forward to help our shareholders, our customers, our employees, and to our customers and customers’ employees, who are the ones that are really hurting by this situation,” Fisk told the AP.
Waste to Environment operates three coal plants, including a $300 million plant in Spokane, Wash.
The company has been seeking to acquire Coal Energy in recent years.
The company last year filed for bankruptcy protection, and the company said in a recent filing that it could close its remaining coal plants if it were unable to find a buyer.
Coal Energy said in August that it was looking for a buyer, and it also said it was exploring options to buy Waste to the Energy Group.
Wastewater and energy giant Enron were the companies behind the coal plant closures that were blamed on poor maintenance and over-extraction.
Waste to Enron has denied the claims, saying that it did not over-fill the coal tanks and that the coal is safely stored in a separate tank.