Montgomery County, Maryland
Circular Advantage Proposal
A 30-year Circular Supply Agreement (with perpetual continuation after Year 30 unless Non-Renewal Notice is served) converts 1,800 TPD of manufacturing feedstock into a Circular Royalty™ receipt stream beginning 13 months after corresponding feedstock delivery — reported as a separate transaction from the Beneficiation Fee, at zero County capex, with the Beneficiation Fee at or below the confirmed Fully-Weighted Disposal Cost. A single commercial structure: the Circular Supply Agreement (CSA) — Beneficiation Fee (TMC Fee) + Circular Royalty™ — plus a universal Exogenesis™ Royalty add-on.
What this document is
The commercial structure of a 30-year Circular Supply Agreement for Montgomery County — the Beneficiation Fee, the Circular Royalty™, deployment phases, site candidates, risk allocation and timeline.
- One Circular Supply Agreement governs the relationship; the County commits feedstock, not capital, and Carbotura finances the facility at every phase.
- The Beneficiation Fee and the Circular Royalty™ are independent transactions, reported separately and never netted against each other.
- Authorising the engagement in 2026 is what makes commercial operation possible before the Dickerson contract expires in April 2031.
- See how the stream was sized ↗Volumes, routes and costs behind these figures.
- See the 30-year economics ↗Phase-by-phase fiscal effects, each flow gross.
- What residents get ↗Jobs, environment and cost, in plain language.
Seven Commitments · One Engagement
Four items are required for every engagement and establish the structural commitment between the County and Carbotura. Three optional items signal sovereign offtake election — relevant when the County acts as a sovereign manufacturer or strategic materials buyer.
What This Means
Beneficiation Fee: $100/ton → Carbotura
+2.5%/yr · separate transaction
Circular Royalty™: $17.5M/yr (Yr 2)
→ $43.1M/yr (Yr 30)
From Carbotura product revenues · separate transaction · 13-month lag
$0 — no incremental fee
Circular Royalty™: $17.5M/yr (Yr 2)
+ Exogenesis™ Royalty: $7.3M/yr (Yr 6+)
Two independent streams · ~$1.04B 30-yr combined (Circular Royalty™ $829M + Exogenesis™ ~$207M)
The Circular Supply Agreement (CSA) is Carbotura’s single commercial structure for every engagement.
The Beneficiation Fee (TMC Fee) and all Royalty streams are independent transactions — separate payment obligations under the CSA, never netted against one another. Royalty is paid by Carbotura from operating revenues of Circular Materials sales, independent of any Fee paid by the County. All figures Phase Initial · 400 TPD · 146,000 TPY · ESTIMATED.
- The RFP #1184252 award is the operative decision deadline — not April 2031. Award locks the bridge disposal pathway. The Joint Working Group phase authorization is the decision that keeps the ACM pathway open.
- Year 1 flows: County pays $14.6M Beneficiation Fee, receives no Circular Royalty™. Year 2: County receives $17.52M Circular Royalty™ (separate transaction) while paying $14.97M Beneficiation Fee. This is the fiscal structure, not a projection of certainty.
- At steady state (Year 30, Phase Initial), the per-ton Circular Royalty™ rate exceeds the per-ton Beneficiation Fee by design — Fee paid $30.6M, Royalty received $45.3M, reported as separate transactions.
- The decision to authorize the Joint Working Group phase does not commit the County to the CSA. It confirms the data basis for a final decision.
Commercial Structure & Decision Window
Advanced Circular Manufacturing is a manufacturing process, not a waste-management activity. Microwave Catalytic Reforming operates in an anoxic, oxygen-free, sub-atmospheric environment — mechanistically incompatible with combustion or biological degradation. ACM does not fit within the waste domain and does not operate under waste-domain statutes. The Regulatory Predicate Transition (RPT) — also framed as the dewaste pathway — is the coordinated regulatory shift from legacy disposal-predicate statutes onto manufacturing-predicate classifications. 100% elemental recycling of the municipal material stream requires this transition. Manufacturing NAICS 325180 · 325998 · 327992 · 331110 · 331314 · 331492 (6-code ACM set) plus EPA RCRA §1004(27) / 40 CFR §261.2(e) exclusion pathway in the US; ISIC Rev.4 20-25 + UN CPC 89 internationally. In many jurisdictions the required authorities already exist in latent form within existing statutes; in others the transition requires primary-authority amendments. The Joint Working Group phase includes a regulatory engagement workstream to shepherd the RPT alongside site permitting. Both parties commit to the RPT pathway. Carbotura brings the process-classification evidence, regulatory engagement expertise from prior ACM deployments, and the legal-technical framework. The counterparty brings the standing to engage the local regulator, the political mandate for the transition, and — where applicable — legacy statutory authorities that can be re-instrumented for manufacturing use. The endpoint is categorical: manufacturing classification across all permitting, licensing, and regulatory contexts. Interim bridging authorities may apply during the transition.
Regulatory basis: RCRA §1004(27) · 40 CFR §261.2(e) · 40 CFR §260.43 ·
§ 1.1 — Contract Structure: Circular Supply Agreement
Structure: Build-Own-Operate — Carbotura finances, constructs, owns, and operates
County obligation: Deliver manufacturing feedstock; pay Beneficiation Fee per ton delivered
Carbotura obligation: Accept all delivered feedstock; pay Circular Royalty™ from 13 months after receipt of the first Beneficiation Fee payment
County capex: Zero
County construction liability: Zero
County operating liability: Zero
§ 1.2 — Decision Window
The hard deadline governing this Proposal is the April 2031 expiry of the RRF service agreement. For Phase Initial ACM operations to be in place at that date, commercial operations date (COD) must be achieved no later than Q4 2028 – Q1 2029 — requiring a Joint Working Group phase authorization no later than Q2–Q3 2026.
The near-term constraint is the pending award of RFP #1184252 (long-haul MSW disposal bridge). Award locks the County's interim disposal pathway and the specific bridge contract term determines when the ACM entry window re-opens. Authorizing the Joint Working Group phase before that award preserves the maximum deployment flexibility window.
§ 1.5 — Commercial Structure
Carbotura offers a single commercial structure for this and all new engagements: the Circular Supply Agreement (CSA) — Beneficiation Fee (TMC Fee) + Circular Royalty™ — plus a universal Exogenesis™ Royalty add-on.
| Parameter | The CSA — Beneficiation Fee (TMC Fee) + Circular Royalty™ |
|---|---|
| County Outflow | Beneficiation Fee (TMC Fee): $100/ton baseline, 2.5%/yr escalation. County's sole recurring financial obligation. |
| County Inflow | Circular Royalty™: 120% × current-Year Beneficiation Fee/ton from 13 months after corresponding feedstock delivery. +1pp/yr multiplier. |
| Year 2 per-ton flows | Fee −$102.50/ton; Royalty +$120.00/ton (separate transactions, never netted) |
| 30-Year Total Royalty | ~$829M (400 TPD basis) · ~$1.04B combined with the Exogenesis™ Royalty add-on, if activated |
| Credit Requirement | BBB– / Baa3 or equivalent at execution |
| Site / Land | County retains land. Carbotura acquires or leases site separately. |
| Tax Abatement | Required — a commercial condition to capital deployment (PILOT or equivalent). Not tied to classification. |
| Recommended for Montgomery County | ✓ Standard — available to all Montgomery County engagements; see the Exogenesis™ Royalty add-on below (Gude/Oaks Landfill legacy-mass economics) |
Indicative economics based on 400 TPD / 146,000 TPY. Terms fixed at CSA execution, not at Term Sheet. All figures illustrative. Source: Carbotura CSA Engagement Document Suite v2026.7.
Gude Landfill (Rockville, MD; closed 1982) and Oaks Landfill (closed 1997) are qualifying assets for the Exogenesis™ Royalty, which runs concurrently with the Circular Royalty™. Where a qualifying closed, closing, or operating landfill site exists, Carbotura commits to deploy Exogenesis™ (legacy landfill mining) within 3–7 years post-COD, alongside the primary Regenesis™ facility. This creates a second concurrent royalty stream.
| Royalty Stream | Rate | Escalation | Trigger | Indicative Year 2 (400 TPD ea.) |
|---|---|---|---|---|
| Circular Royalty™ (current feedstock stream) | 120% × Beneficiation Fee/ton | +1pp/yr multiplier | 13 months after corresponding feedstock delivery, rolling | ~$17.5M |
| Exogenesis™ Royalty (legacy mass) | $50/ton extracted | 1.0%/yr | 13 months after first extraction | ~$7.3M |
| Combined (once Exogenesis™ operational, Year 6+) | — | ~$24.8M/yr | ||
Carbotura provides Environmental Impairment Liability and Pollution Legal Liability cover for its own Exogenesis™ extraction operations.
Exogenesis™ activation is confirmed at CSA execution. Phase II ESA and Waste Characterization Study conducted during Joint Working Group phase (costs shared equally). All figures illustrative · Source: CSA v2026.7 §4B.2A, §4B.12, §4B.13
Deployment Architecture
§ 2.1 — Phase Configuration
| Phase | Deployed TPD | Modules (100 TPD each) | Annual Feedstock (tpy) | % of MSW Stream | COD (est.) | CapEx | Status |
|---|---|---|---|---|---|---|---|
| Initial | 400 | 4 | 146,000 | 22% | Q4 2028 – Q1 2029 | $262.5M | Carbotura standard parameters |
| Medium | 1,000 | 10 | 365,000 | 56% | Q2 2030 – Q3 2030 | $627.5M cumulative | Carbotura standard parameters |
| Expanded | 2,000 | 20 | 730,000 | 111%* | Q2 2031 – Q3 2031 | $1,232.5M cumulative | Carbotura standard parameters |
*Phase Expanded exceeds MSW stream — incorporates CONDITIONAL and ACCESSIBLE streams. Module math: ceil(TPD / 100). COD dates based on Carbotura standard deployment schedule — project-specific T0 confirmed at CFS. CapEx: $75M first module; $57.5M each additional.
§ 2.2 — BOO Capital Structure
§ 2.3 — Feedstock Stream Coverage by Phase
| Stream | Phase Initial | Phase Medium | Phase Expanded | Access Status |
|---|---|---|---|---|
| MSW Residual (1,800 TPD) | ✓ Primary | ✓ Continued | ✓ Continued | IMMEDIATE |
| Dual-Stream Recyclables (480 TPD) | — | ✓ Added | ✓ Continued | CONDITIONAL |
| Yard Trim (320 TPD) | — | ✓ Added | ✓ Continued | CONDITIONAL |
| Organics / Food Scraps (180 TPD) | — | ✓ Added | ✓ Continued | CONDITIONAL |
| Biosolids — MC Share (145 TPD) | — | Partial | ✓ Full | CONDITIONAL |
| C&D Debris (220 TPD) | — | — | ✓ Added | ACCESSIBLE |
| Special Waste / HHW (75 TPD) | — | — | ✓ Added | ACCESSIBLE |
Access Classification = IMMEDIATE / CONDITIONAL / ACCESSIBLE — reflects access constraints, never ACM capability limits.
§ 2.4 — Site Candidate Analysis
Three priority candidate zones identified from industrial land inventory, zoning analysis, and feedstock infrastructure proximity. Research: places_search + M-NCPPC zoning records + Montgomery County DEP · March 2026
| Priority | Zone | Acreage | Zoning | Land Authority | Co-location Advantage | Key Consideration |
|---|---|---|---|---|---|---|
| P1 | Shady Grove Industrial Corridor, Derwood | 15–20 ac | I-2 Industrial | Montgomery County / Private | 0.3 mi from Shady Grove TS; existing CSX rail; MRF co-located | Land acquisition / parcel availability at Phase Expanded scale |
| P2 | Germantown Technology Corridor | 20–30 ac | I-2/I-3 Industrial | Private / M-NCPPC | I-270 logistics; larger parcels; tech park permitting precedent | 9-mile dedicated feedstock haul adds transport cost vs. P1 |
| P3 | Dickerson Energy Park | 50+ ac | Rural Industrial | Montgomery County / Private | Adjacent to existing RRF; large footprint; existing rail | 20 mi from primary feedstock source; rural road constraints |
§ 2.5 — Phase Initial Feedstock Sufficiency
Economic Structure — Beneficiation Fee
§ 3.1 — Beneficiation Fee Formula
TMC_Fee = MAX($100, MIN($150, FWDC − $5))
// Montgomery County planning basis
FWDC = ~$90/ton (ESTIMATED — DEP estimate)
TMC_Fee_Planning_Basis = $100/ton (floor applied) Carbotura standard parameters
TMC_Fee_Annual_Escalator = 2.5%/year Carbotura standard parameters
§ 3.2 — Annual Beneficiation Fee Obligation by Phase
| Phase | Annual Feedstock (tpy) | Year 1 Beneficiation Fee/ton | Year 1 Annual Obligation | Year 10 (escalated) | Year 30 (escalated) |
|---|---|---|---|---|---|
| Initial (400 TPD) | 146,000 | $100/ton | $14,600,000 | $18,533,000 | $30,612,000 |
| Medium (1,000 TPD) | 365,000 | $100/ton | $36,500,000 | $46,331,000 | $76,530,000 |
| Expanded (2,000 TPD) | 730,000 | $100/ton | $73,000,000 | $92,662,000 | $153,060,000 |
All figures at $100/ton planning basis · 2.5% annual escalator · Carbotura standard parameters ESTIMATED
Royalty Structure
§ 4.0 — The CSA: Beneficiation Fee (TMC Fee) + Circular Royalty™
Montgomery County pays Beneficiation Fee each month; receives Circular Royalty™ 13 months later. From Year 2 onward the per-ton royalty rate exceeds the per-ton Beneficiation Fee — both are reported as separate transactions, never netted.
| Parameter | Value | Basis |
|---|---|---|
| Base Royalty Rate (Year 1) | 120% of Year 1 Beneficiation Fee per ton | Carbotura standard |
| Royalty Multiplier Escalator | +1 percentage point per year (Year 2: 120%; Year 30: 148%) | Carbotura standard |
| Beneficiation Fee Escalator | +2.5% per year | Carbotura standard |
| Effective Royalty Growth | ~3.3%/yr average over 30 years | Derived |
| Payment Lag | 13 months after corresponding Beneficiation Fee payment | Fixed |
| Counterparty Credit | BBB– / Baa3 required at execution and throughout Term | CSA §4A.5 |
| Period | Timing | County Outflow | County Inflow |
|---|---|---|---|
| Pre-Royalty | Months 1–12 after first delivery | Beneficiation Fee ($100.00/ton) | $0 royalty |
| Royalty Ramp | 13 months after corresponding feedstock delivery → Month 24 (approx.) | ~$102.50/ton (escalated) | Circular Royalty™ at $120.00/ton |
| Steady State | Year 2 onward | +2.5%/yr escalating | +~3.3%/yr effective (multiplier mechanic) |
Montgomery County pays the Beneficiation Fee and receives zero Circular Royalty™ during the first 12 months following Phase Initial COD (est. Q2 2028 – Q2 2029). First Circular Royalty™ payment: Q3 2029. This is a planned structural feature of the 13-month lag, not a performance shortfall. The Exogenesis™ Royalty (bonus) is additive, never an outflow, and follows its own independent schedule.
| Year | Avoided Disposal/ton | Beneficiation Fee/ton → Carbotura | Annual Fee Paid | Royalty/ton → County | Annual Royalty Received |
|---|---|---|---|---|---|
| 1 | $95.00 | $100.00 | $14,600,000 | $0 | $0 |
| 2 | $97.37 | $102.50 | $14,965,000 | $120.00 | $17,520,000 |
| 5 | $104.86 | $110.38 | $16,115,668 | $132.46 | $19,338,802 |
| 10 | $118.64 | $124.89 | $18,233,399 | $155.96 | $22,769,513 |
| 20 | $151.87 | $159.87 | $23,340,293 | $215.23 | $31,424,004 |
| 30 | $194.41 | $204.64 | $29,877,548 | $295.48 | $43,140,264 |
Phase Initial 400 TPD / 146,000 TPY. Year 5 royalty = 123% × $107.69 = $132.46/ton. All ESTIMATED. US GAAP.
| The CSA — Phase Expanded Full Build-Out (2,000 TPD / 730,000 TPY) | |||||
|---|---|---|---|---|---|
| Year | Beneficiation Fee/ton → Carbotura | Annual Fee Paid | Royalty/ton → County | Annual Royalty Received | |
| 1 | $100.00 | $73,000,000 | $0 | $0 | |
| 2 | $102.50 | $74,825,000 | $120.00 | $87,600,000 | |
| 10 | $124.89 | $91,166,997 | $155.96 | $113,847,567 | |
| 30 | $204.64 | $149,387,740 | $295.48 | $215,701,322 | |
Phase Expanded: 2,000 TPD × 365 = 730,000 TPY. All ESTIMATED. US GAAP.
Gross cost displacement is quantified separately from Circular Royalty™ cash flow. Both are independent financial effects of the CSA.
At steady state, the Circular Royalty™ is designed to exceed the Beneficiation Fee on a per-ton basis.
Circular Royalty™ payments begin 13 months after corresponding Beneficiation Fee payments and ramp to full run-rate on a rolling basis.
§ 4.2 — Exogenesis™ Royalty (Bonus Feature · CSA Add-On)
The Exogenesis™ Royalty is a bonus feature available as a CSA add-on, concurrent with the Circular Royalty™. Carbotura extracts and beneficiates legacy mass from the qualifying landfill — in Montgomery County's case, Gude Landfill (Rockville, MD; closed 1982) as primary candidate, with Oaks Landfill (closed 1997) as alternate target — and pays $50/ton extracted royalty, +1.0%/yr compound, beginning 13 months after first Exogenesis™ extraction. The figures below illustrate the combined position alongside the Circular Royalty™.
| Royalty Stream | Rate | Escalation | Trigger | Basis |
|---|---|---|---|---|
| Circular Royalty™ (current feedstock stream) | 120% × Beneficiation Fee/ton, +1pp/yr multiplier | +2.5%/yr Beneficiation Fee escalator | 13 months after corresponding feedstock delivery | CSA §4A.7 |
| Exogenesis™ Royalty | $50/ton extracted (Exogenesis™) | +1.0%/yr from Year 2 of extraction | 13 months after first Exogenesis™ extraction | CSA §4B.2A |
| Legacy Royalty CERCLA floor / step-up | $25/ton floor if CERCLA contamination discovered; $75/ton if 7-yr long-stop missed | — | Per Waste Characterization Study findings | CSA §4B.2A |
| Period | Timing | County Outflow | County Inflow |
|---|---|---|---|
| Pre-Royalty | Months 1–12 | Beneficiation Fee ($100.00/ton) | $0 |
| Circular Royalty™ Only | Year 2 → Year 5 | Beneficiation Fee (escalating 2.5%/yr) | Circular Royalty™ from 13 months after corresponding feedstock delivery |
| Dual Stream | Year 6 onward (Exogenesis™ online + 13m) | Beneficiation Fee (escalating 2.5%/yr) | Circular Royalty™ + Exogenesis™ Royalty |
| Year | Avoided Disposal/ton | Circular Royalty™/ton | Legacy Royalty/ton | Two-Stream Total/ton | Annual Two-Stream |
|---|---|---|---|---|---|
| 1 | $95.00 | $0 | $0 | $0 | $0 |
| 2 | $97.37 | $120.00 | $0 | $120.00 | $17,520,000 |
| 5 | $104.86 | $132.46 | $0 | $132.46 | $19,338,802 |
| 6 ★ | $107.48 | $136.87 | $50.00 | $186.87 | $27,283,020 |
| 10 | $118.64 | $155.96 | $52.03 | $207.99 | $30,365,893 |
| 20 | $151.87 | $215.23 | $57.47 | $272.70 | $39,814,624 |
| 30 | $194.41 | $295.48 | $63.49 | $358.97 | $52,409,804 |
★ Year 6 = first Exogenesis™ Royalty year (Exogenesis™ target COD Year 5 + 13-month trigger). Legacy Royalty Year n = $50 × 1.01n−6/ton (n≥6). Circular Royalty™ per §4.0 formula. Phase Initial 400 TPD / 146,000 TPY. All ESTIMATED. US GAAP.
| Circular Royalty™ + Exogenesis™ Royalty — Phase Expanded Full Build-Out (2,000 TPD / 730,000 TPY) | ||||
|---|---|---|---|---|
| Year | Circular Royalty™/ton | Legacy Royalty/ton | Two-Stream Total/ton | Annual Two-Stream |
| 1 | $0 | $0 | $0 | $0 |
| 2 | $120.00 | $0 | $120.00 | $87,600,000 |
| 6 ★ | $136.87 | $50.00 | $186.87 | $136,415,100 |
| 10 | $155.96 | $52.03 | $207.99 | $151,832,700 |
| 30 | $295.48 | $63.49 | $358.97 | $262,048,100 |
★ Year 6 = first full Exogenesis™ Royalty year. Beneficiation Fee outflow continues on its own schedule at all phases (see §3.2) — not netted against Circular Royalty™ or Exogenesis™ Royalty receipts. All ESTIMATED. US GAAP.
Primary candidate — Gude Landfill (Rockville, MD; closed 1982): older closure with larger documented buried tonnage and clean access; preferred Phase 1 Exogenesis™ target. Alternate — Oaks Landfill (closed 1997): smaller, later-closure profile; available as secondary or contingent target depending on Waste Characterization Study findings. Final selection at CSA execution.
Risk Register
| Risk | Key Driver | Who Bears It | Mitigation | Residual Exposure |
|---|---|---|---|---|
| FWDC verification — true cost exceeds or is below $90/ton | Incomplete County cost disclosure | Both parties | CFS confirms FWDC; Beneficiation Fee re-anchored to confirmed figure | If FWDC below $100, floor applies; County not over-charged |
| Technology performance — ACM output yield below RevCon™ 3 | Feedstock composition variability | Carbotura | RevCon™ 3 conservative baseline; performance warranty in CSA | County Beneficiation Fee obligation unchanged; Carbotura revenue risk only |
| Timeline slippage — Phase Initial COD delayed past Q1 2029 | Permitting; site acquisition; construction | Carbotura | Priority 1 site pre-positioned; construction schedule locked at CFS | County may require bridge disposal coverage for delay period |
| Third-party contract constraints — CONDITIONAL streams | MRF contract terms; WSSC Water bilateral | Both parties | Phase Initial designed for IMMEDIATE streams only; CONDITIONAL streams are Phase Medium+ | Phase Initial unaffected; Phase Medium requires bilateral engagement |
| Competitive procurement — RFP #1184252 award forecloses entry | Bridge contract locks interim pathway | Both parties | Authorize CFS before award; CFS does not foreclose bridge contract | Bridge contract term determines re-entry window if award precedes CFS |
| Residual stream — ACM outputs require market | Circular Materials offtake and pricing | Carbotura | Circular Materials revenue confirmed at CFS; multiple product markets targeted | County Beneficiation Fee obligation not contingent on Circular Materials revenue |
| PFAS regulatory — feedstock PFAS content | Evolving PFAS regulation in MSW | Carbotura advantage | ACM designed for complete PFAS elimination through elemental dissociation at 1,200°C+; eliminates PFAS from output streams | ACM eliminates, not introduces, PFAS regulatory risk vs. current system |
Deployment Timeline
| Milestone | Estimated Date | Description | Decision Window |
|---|---|---|---|
| RFP #1184252 Award | Q1–Q2 2026 | Long-haul bridge disposal contractor selected — locks interim pathway | Now — active. Engage before award. |
| LOI/MOU Execution | Q2–Q3 2026 | County authorizes Joint Working Group phase — confirms FWDC, site, ACM parameters | Required before this date for Phase Initial COD before April 2031 |
| Joint Working Group phase Complete | Q4 2026 | FWDC confirmed, site selected, Circular Materials baseline confirmed, Beneficiation Fee finalized | CSA execution gate |
| CSA Execution | Q1 2027 | 30-year Circular Supply Agreement signed | Triggers Phase Initial detailed design |
| Phase Initial Detailed Design & Permitting | Q1–Q3 2027 | Confirms four-module configuration, site plan, environmental permits | Construction mobilization gate |
| Phase Initial Construction | Q4 2027 – Q3 2028 | ACM facility construction — 400 TPD, 4 modules, Shady Grove Industrial Corridor (P1) | — |
| Phase Initial COD | Q4 2028 – Q1 2029 | Commercial operations date — feedstock delivery begins; Beneficiation Fee obligations commence | — |
| First Circular Royalty™ Payment | Q1–Q2 2030 | 13-month lag after Phase Initial COD — rolling royalty payments begin | County fiscal Year 2 — royalty stream commences (separate from Fee obligation) |
| RRF Contract Expiry | April 2031 | NMWDA service agreement terminates — hard deadline | Phase Initial must be operational by this date |
Community Value Stack
§ 7.1 — County Fiscal Effects
| Fiscal Effect | Phase Initial Basis | Status |
|---|---|---|
| Gross cost displacement — Beneficiation Fee vs. FWDC | $0–$14.6M/year depending on FWDC confirmation at $100/ton floor | ESTIMATED |
| Pre-Royalty Period (Year 1) | County pays $14.6M Beneficiation Fee; receives zero royalty | Carbotura standard parameters |
| Year 2 Beneficiation Fee paid | $14,970,000 | ESTIMATED |
| Year 2 Circular Royalty™ received | $17,520,000 (separate transaction) | ESTIMATED |
| 30-year cumulative Circular Royalty™ (Phase Initial, gross) | ~$1,050,000,000 | ESTIMATED |
| Year 30 Beneficiation Fee paid | $30,600,000 | ESTIMATED |
| Year 30 Circular Royalty™ received | $45,300,000 (separate transaction) | ESTIMATED |
| County capex obligation | Zero | CONFIRMED |
| Lifetime royalty — Phase Expanded | ~$735,000,000 (estimated) | ESTIMATED |
§ 7.2 — Regional Economic Effects
| Effect | Phase Initial | Basis |
|---|---|---|
| Direct employment (FTE) | 100 FTE | Carbotura standard parameters — designed for 400 TPD Carbotura standard parameters |
| Indirect and induced employment | ~300 jobs | Carbotura standard parameters Carbotura standard parameters |
| Annual economic impact | $32M+/year | Carbotura standard parameters — subject to site confirmation Carbotura standard parameters |
| Carbon impact | −1,522 to −1,566 tons CO₂e/day | Designed for 400 TPD at RevCon™ 3 baseline Carbotura standard parameters |
| PFAS elimination | Complete elimination through elemental dissociation at 1,200°C+ | Per ACM Regenesis™ Protocol design specifications |
| Ash residue stream eliminated | Volume converted at ACM — no landfill residue from converted portion | Eliminates Brunswick, VA EJ exposure for converted volumes |
Why This Works in Montgomery County
All values in this block are the authoritative State B inputs for the EIR delta model. Source types propagated exactly. No independent derivation in EIR — all State B values sourced here only.
| Parameter | Value | Source Type |
|---|---|---|
| Phase Initial deployed capacity | 400 TPD / 4 modules / 146,000 tpy | Carbotura standard parameters |
| Phase Initial project CapEx | $262,500,000 total ($75M first + $57.5M × 3) | Carbotura standard parameters |
| Phase Initial COD | Q4 2028 – Q1 2029 (Carbotura standard schedule) | Carbotura standard parameters |
| Beneficiation Fee — planning basis | $100/ton (floor; FWDC confirmed at CFS) | ESTIMATED |
| Beneficiation Fee annual escalator | 2.5%/year | Carbotura standard parameters |
| Circular Royalty™ base rate (Year 1) | 120% of Year 1 Beneficiation Fee per ton = $120/ton | Carbotura standard parameters |
| Circular Royalty™ escalator | +1 percentage point per year | Carbotura standard parameters |
| Payment lag | 13 months after corresponding Beneficiation Fee payment | Carbotura standard parameters |
| State B Year 1 Beneficiation Fee paid | −$14,600,000 (pre-royalty) | ESTIMATED |
| State B Year 1 Circular Royalty™ received | $0 (pre-royalty) | ESTIMATED |
| State B Year 2 Beneficiation Fee paid | −$14,970,000 | ESTIMATED |
| State B Year 2 Circular Royalty™ received | +$17,520,000 (separate transaction) | ESTIMATED |
| State B Year 30 Beneficiation Fee paid | −$30,600,000 | ESTIMATED |
| State B Year 30 Circular Royalty™ received | +$45,300,000 (separate transaction) | ESTIMATED |
| 30-year cumulative Circular Royalty™ (Phase Initial, gross) | ~$1,050,000,000 | ESTIMATED |
| Priority 1 site candidate | Shady Grove Industrial Corridor, Derwood, MD — 0.3 mi from Shady Grove TS | ESTIMATED — CFS confirmation |
| State A FWDC (planning basis) | ~$90/ton (DEP estimate January 2025) | ESTIMATED |
| ACM County capex | Zero | CONFIRMED |
| Site candidate coordinates | P1: 39.145, −77.134 (Shady Grove Industrial Corridor) | ESTIMATED — CFS site confirmation |