Twin Cities aluminium recycler Spectro Alloys Corp. has applied for a grant from the state of Minnesota to build a US$76.8 million addition to its aluminium recycling plant in Rosemount.
The firm aims to add 90,000 square feet to the plant, which rests on a 42-acre tract. Company officials say the plan is to begin construction next year, ultimately with commissioning of the expansion planned for the summer of 2025.
Spectro plans the expansion to increase its aluminium sort and melt capabilities as well as bumping up its capacity for casting the scrap aluminium into aluminium billet and sheet.
In a statement to the press, Spectro noted the size of the soon-to-be installed aluminium recycling capacity at the site.
“With this expansion, aluminum recycling at Spectro Alloys will save enough energy to power every home in Minneapolis and St. Paul combined.”
Meanwhile, Spectro’s president Luke Palen noted that his company continues to see the demand for aluminium recycling on the rise.
“We have been recycling for 50 years here, but this is probably the most significant expansion in our history.”
The company is seeking a loan totaling US$400,000 from the Minnesota Investment Fund for the project, which may be forgiven if Spectro achieves benchmarks for job creation and wages. In addition to loan forgiveness, Spectro’s project may also be in line for an additional US$250,000 for reaching job creation goals and US$500,000 in capital investment rebates.
Rosemount’s Economic Development Coordinator Eric Van Oss assured the local government that Spectro would have to weather a strict qualification process before any funds are released.
“These are state funds. Nothing is actually coming from the city of Rosemount. We are just the applicant on behalf of the company.”
Spectro previously completed a US$10 million expansion that includes a new warehouse that utilizes solar energy and other sustainable processes that reduce emissions.