Blue Oak Resources

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Date of closing March 2014
Total Costs $33 million
Total NMTCS $30 million
BlueOak Resources, Inc. (Osceola, AR) | View Map
BlueOak Resources created a 73,100 sq. ft. electronic scrap recycling facility which recycles a total of 35,000 tons of electronic waste per year. The project won the Harvard Business School New Venture Award in 2011 and  uses proprietary and sustainable technologies to mine high value precious metals such as gold, copper, silver and palladium from electronic waste products such as circuit boards. This process is an energy efficient alternative to mining virgin ore, which has significant negative environmental impacts. In addition, the project diverts a significant amount of the e-scrap currently exported to developing countries which lack the requisite environmental infrastructure necessary for safe processing; informal e-recycling has been a major contributor to the UN’s recognition of Guiyu, China as the second most polluted site in the world. The project creates 75 permanent jobs in rural Osceola, AR which faces 44.3% poverty and 12.7% unemployment. (NNMF NMTCs: $15 million)

From the National New Markets Tax Credit Fund.

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