Six Documents · One Decision
Engagement Document Suite
Document 01 of 06
Waste Feedstock Study
Diagnostic analysis of Nucor and DJJ's Southeast ASR stream — volumes, cost structure, regulatory classification, and addressability assessment. Establishes State A baseline.
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Document 02 of 06
Proposal
Transaction structure: 30-year BOO COA, $150/ton TMC Fee, Circular Royalty commencing Month 13. Site candidate analysis — Priority 1 at Morgan County Industrial District, Decatur AL.
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Document 03 of 06
Economic Impact Report
Delta model quantifying State A vs. State B across all three fiscal periods: pre-royalty, royalty ramp, and steady state. Risk register, FWDC sensitivity, RCRA sign-change threshold.
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Document 04 of 06
Executive Brief
Two-minute action instrument for decision-makers. The live operational condition, fiscal period breakdown, cost of delay, and one required action — Community Feasibility Study authorization.
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Document 05 of 06
SPV Finance
Institutional capital structure: $75M–$247.5M BOO facility financing. Option B asset base (PP&E + COA Reserve + IP License). Debt schedule, DSCR, investor returns, and 30-year FCF. US GAAP.
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Document 06 of 06
Community Benefits
Plain-language guide to ACM for Morgan County — what it is, what it does, how the Circular Royalty works, and what it means for North Alabama jobs, economy, and environment.
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Decision Window — Action Required
Active ASR disposal contracts govern Nucor and DJJ's current $10.95M/year landfill arrangement. Their expiry dates are undisclosed. Understanding those windows is the first deliverable of the Community Feasibility Study — and the clock is running. At 400 TPD, each quarter of delay defers $6.3M in combined royalty and avoided disposal value versus the State B position. RCRA Subtitle C reclassification — which could step-change disposal costs to $250/ton — remains open while disposal contracts remain active.
Planning basis: Volume, cost, and financial figures in this engagement package are based on estimated inputs identified by ESTIMATED badges throughout each document. FWDC of $75/ton and ASR volumes of 100/200/400 TPD require verification through a Community Feasibility Study. This package is prepared for authorized recipients of a Stage 1 Carbotura discovery engagement and does not constitute financial, legal, or investment advice. US GAAP. April 2026.