§1 — Introduction and Decision Summary
§1.1 — What This Report Measures
State A is the current system as diagnosed in the Waste Feedstock Study: Nucor/DJJ ASR streams disposed at ADEM-permitted Alabama landfills at an estimated $75/ton, with $0 residual value returned, and active RCRA reclassification exposure. State A is not re-diagnosed here.
State B is the Carbotura ACM deployment as specified in the Proposal EIR Input Block: 100/200/400 TPD phased build-out at Morgan County Industrial District, Decatur AL; TMC Fee $150/ton (agreed); Circular Royalty commencing Month 13 at $180/ton (Year 2), escalating +1pp/yr. State B values originate exclusively from the Proposal — no independent derivation.
§1.2 — Decision Summary Table
| Decision Variable | State A (Current) | State B Year 1 | State B Year 2+ |
|---|---|---|---|
| Annual cost / obligation (Initial — 100 TPD) | −$2.74M disposal cost | −$5.48M TMC Fee | +$0.96M net surplus + $2.74M avoided disposal |
| Per-ton position | −$75/ton (disposal); $0 return | −$150/ton TMC; $0 royalty | +$26.25/ton surplus + $75/ton avoided |
| Capital obligation (Nucor/DJJ) | None (disposal is opex) | $0 — Carbotura BOO, fully privately financed | |
| RCRA reclassification exposure | Active — $150–$250/ton potential | Eliminated — ACM classified as manufacturing feedstock | |
| Key data gaps | FWDC verified rate (ESTIMATED); volumes (ESTIMATED); contract expiry dates | ||
| Decision: Feasibility Study authorization | Required at T0. Each quarter of delay shifts first royalty payment by one quarter. | ||
| Cost of delay (per quarter, Expanded 400 TPD) | ~$3.6M deferred Circular Royalty + $2.74M additional disposal cost per quarter | ||
§1.3 — Fiscal vs. Regional Economic Separation
This report distinguishes between two categories throughout. Direct fiscal effects are cash flows between Nucor/DJJ and Carbotura under the COA — TMC Fee, Circular Royalty, and avoided disposal cost. Regional economic effects are broader impacts on employment, property tax base, and supply chain in Morgan County and North Alabama. These two categories are not additive and must not be combined in any comparative statement.
§2 — State A Baseline
§2.1 — Feedstock Volume and Disposition
| Stream | Source | Est. TPD | Current Disposition | $/Ton Disposed |
|---|---|---|---|---|
| Light ASR (Fluff) — DJJ captive | DJJ SE shredder network | ~290 | ADEM-permitted lined landfill | $65–$85 EST |
| Heavy ASR — DJJ non-ferrous residual | DJJ processing operations | ~40 | ADEM-permitted lined landfill | $65–$85 EST |
| Third-party SE shredder ASR | Regional operators | ~30 | Contracted disposal — facility undisclosed | Unknown |
| Total addressable (IMMEDIATE) | DJJ captive | ~330 | 100% landfill — $0 residual return | $75 blended EST |
§2.2 — State A Cost Structure
| Cost Component | $/Ton | Annual Cost (330 TPD) | Source Type |
|---|---|---|---|
| Landfill gate rate (special waste, Alabama) | $30–$45 | $3.61M–$5.42M | EST |
| ASR special handling surcharge | $20–$30 | $2.41M–$3.61M | EST |
| Transport (shredder → landfill) | $10–$15 | $1.20M–$1.81M | EST |
| Residual return | $0 | $0 | Structural — no recovery mechanism |
| FWDC (blended all-in) | $75 | $9.04M/yr (@ 330 TPD) | EST |
§2.3 — State A Cost Trajectory — Three Escalation Mechanisms
| Mechanism | Current Status | Likely Direction |
|---|---|---|
| General landfill cost inflation | Alabama MSW tipping fees growing ~3–4%/yr (EREF 2024 trend) | ↑ Gradual escalation |
| ASR special waste surcharge tightening | ADEM framework stable; EPA Region 4 scrutiny increasing | ↑ Increasing compliance burden |
| RCRA Subtitle C reclassification | Non-hazardous currently; TCLP threshold approach possible | ↑↑ Step-change to $150–$250/ton if triggered |
§2.4 — State A Structural Position
State A offers no recovery mechanism for ASR. Every ton disposed is a permanent operational expense. The structural risk — RCRA Subtitle C reclassification — is not theoretical: ASR constituent profiles (lead, cadmium, PCBs) mean TCLP threshold exceedances are operationally plausible without significant feedstock control changes. State A holds this risk without mitigation.
§3 — State B Deployment Baseline
§3.1 — Inherited Flags
All State B values in this section originate exclusively from the Proposal EIR Input Block (April 2026). Confidence flags are inherited without modification — see Inherited Flags Block above. No independent derivation.
§3.2 — Deployment Configuration
| Phase | TPD | Modules | TPY | COD | First Royalty |
|---|---|---|---|---|---|
| Initial | 100 | 1 | 36,500 | T0+24mo | T0+37mo |
| Medium | 200 | 2 | 73,000 | T0+42mo | T0+55mo |
| Expanded | 400 | 4 | 146,000 | T0+60mo | T0+73mo |
§3.3 — Economic Terms (from Proposal)
| Parameter | Value |
|---|---|
| TMC Fee — Year 1 | $150.00/ton (agreed rate, Carbotura ceiling) |
| TMC Fee escalator | 2.5%/year compounding |
| Circular Royalty base | 120% of Year 1 TMC = $180.00/ton (Year 2) |
| Royalty escalator | +1 percentage point/year |
| Royalty payment lag | 13 months after corresponding TMC payment |
| COA term | 30 years |
| Counterparty capex obligation | $0 (BOO — Carbotura financed) |
| Accounting standard | US GAAP |
§3.4 — Residual Obligations
Third-party SE shredder ASR (~30 TPD) is outside the initial COA scope and continues under current disposal arrangements during Phase Initial and Phase Medium. No residual disposal obligation exists for DJJ captive streams once COA Phase Initial is operational.
§3.5 — Timeline Anchoring
All milestones referenced to T0 = Feasibility Study authorization date. No confirmed T0 as of April 2026.
§3.6 — Phase Delta Map
The map below shows the transition from State A infrastructure (existing ASR generation and disposal network) to State B (ACM facility — Priority 1 candidate at Morgan County Industrial District). State A pins shown in grey/amber/blue tones; State B ACM site in Emerald.
Map requires a Google Maps API key.
Set GOOGLE_MAPS_API_KEY in config.js.
§4 — Delta Analysis
§4.1 — Three Delta Components
§4.2 — Phase-by-Phase Comparative Table
| Metric | Phase Initial (100 TPD) | Phase Medium (200 TPD) | Phase Expanded (400 TPD) |
|---|---|---|---|
| State A disposal cost for this volume | $2,737,500/yr | $5,475,000/yr | $10,950,000/yr |
| State B TMC Fee — Year 1 | −$5,475,000 | −$10,950,000 | −$21,900,000 |
| Gross cost displacement (avoided disposal) | +$2,737,500 | +$5,475,000 | +$10,950,000 |
| Circular Royalty — Year 1 | $0 (pre-royalty) | $0 (pre-royalty) | $0 (pre-royalty) |
| Circular Royalty — Year 2 | +$6,570,000 | +$13,140,000 | +$26,280,000 |
| Surplus (Royalty − TMC) — Year 2 | +$958,125 | +$1,916,250 | +$3,832,500 |
| Total improvement vs. State A — Year 2 | +$3,695,625 | +$7,391,250 | +$14,782,500 |
| Counterparty capital obligation | $0 | $0 | $0 |
Year 1 and post-Month 13 periods have materially different fiscal characteristics. They must not be combined.
In Year 1, Nucor/DJJ pay the TMC Fee ($150/ton) and receive $0 royalty — a net outlay of $150/ton against $75/ton current disposal. The Year 1 net position relative to State A is therefore −$75/ton. Beginning Month 13, the Circular Royalty of $180/ton commences on a rolling basis, converting the position to +$26.25/ton surplus plus $75/ton avoided disposal = +$101.25/ton improvement over State A. These two periods represent structurally distinct fiscal positions and averaging them produces a materially misleading figure.
§4.4 — Gross Cost Displacement — Selected Years (Phase Initial)
| Year | TPY | FWDC/Ton | Annual Gross Displacement | Cumulative Displacement |
|---|---|---|---|---|
| 1 | 36,500 | $75 | $2,737,500 | $2,737,500 |
| 5 | 36,500 | $75 | $2,737,500 | $13,687,500 |
| 10 | 36,500 | $75 | $2,737,500 | $27,375,000 |
| 20 | 36,500 | $75 | $2,737,500 | $54,750,000 |
| 30 | 36,500 | $75 | $2,737,500 | $82,125,000 |
FWDC held constant at $75/ton (ESTIMATED). Does not reflect potential FWDC escalation from landfill cost inflation or RCRA reclassification — both of which would increase this figure materially.
§4.5 — Circular Royalty — Selected Years (Phase Initial, 100 TPD)
| Year | TMC Fee/ton | Royalty Rate | Royalty/ton | Annual Royalty | Annual TMC | Surplus (Royalty−TMC) |
|---|---|---|---|---|---|---|
| 1 | $150.00 | N/A — pre-royalty | $0 | $0 | −$5,475,000 | −$5,475,000 |
| 2 | $153.75 | 120% | $180.00 | +$6,570,000 | −$5,611,875 | +$958,125 |
| 5 | $165.57 | 123% | $198.68 | +$7,251,820 | −$6,043,305 | +$1,208,515 |
| 10 | $187.33 | 128% | $233.93 | +$8,538,445 | −$6,837,545 | +$1,700,900 |
| 20 | $239.79 | 138% | $322.84 | +$11,784,460 | −$8,752,635 | +$3,031,825 |
| 30 | $306.96 | 148% | $443.23 | +$16,177,895 | −$11,204,040 | +$4,973,855 |
§4.6 — Three-Item Gross Fiscal Chart (Phase Initial)
1. Gross cost displacement is quantified separately from Circular Royalty cash flow. Full net fiscal position reflects both.
2. At steady state, the Circular Royalty is designed to exceed the TMC Fee on a per-ton basis.
3. Circular Royalty payments begin 13 months after corresponding TMC Fee payments and ramp to full run-rate on a rolling basis.
Insight: Avoided Disposal (amber) + Circular Royalty (emerald) together exceed TMC Fee (red) from Year 2. Royalty grows faster than TMC through rate escalation differential.
Source: Locked Assumption Registry — April 2026. FWDC $75/ton ESTIMATED.
§5 — System-Level Impact
§5.1 — Employment Delta
Note: Employment figures are regional economic effects and are not county fiscal receipts. They are not additive with Circular Royalty or disposal cost figures above.
| Category | State A | State B — Initial | State B — Expanded |
|---|---|---|---|
| Direct FTE — ACM facility | 0 (landfill staff only — not Nucor/DJJ) | +48 | +192 |
| Indirect jobs — Morgan County supply chain | 0 | +120 | +480 |
| Annual economic impact — North Alabama | Disposal opex only | +$20.2M | +$80.6M |
§5.2 — Environmental Delta
Environmental performance figures are on a designed-for basis pending ASR characterization study. Pending characterization data; subject to revision following feedstock analysis.
| Metric | State A | State B (400 TPD) |
|---|---|---|
| Annual ASR landfilled | ~146,000 tpy (at full target volume) | 0 |
| Carbon displacement (designed-for) | Baseline | ~87,600 tCO2e/yr EST |
| Lead/cadmium landfill leach risk | Active — ongoing TCLP exposure | Eliminated via MCR anoxic processing |
| PCB containment | Reliant on landfill liner integrity | Eliminated in MCR process stream |
§5.3 — RCRA Structural Delta
Under State A, Nucor/DJJ hold open exposure to RCRA Subtitle C reclassification — a step-change event that would raise disposal costs to $150–$250/ton and require hazardous waste manifests, licensed TSD facilities, and environmental liability documentation. Under State B, ASR entering ACM is classified as manufacturing feedstock under NAICS 335991/325120/331410 per Carbotura's EPA RCRA Solid Waste Exclusion Petition (filed February 20, 2026). This classification eliminates Subtitle C exposure for the counterparty entirely.
§5.4 — No-Fallback Analysis
If Nucor/DJJ do not proceed with the COA, State A continues with no structural change — except that landfill cost inflation, ADEM regulatory tightening, and RCRA reclassification risk all continue to accumulate unmitigated. There is no alternative industrial ASR processing option in North Alabama at equivalent scale or comparable commercial terms as of April 2026.
§6 — Risk and Sensitivity
§6.1 — Risk Register
| # | Risk | Driver | Who Bears | Residual |
|---|---|---|---|---|
| 1 | FWDC verification | $75/ton ESTIMATED; actual may differ | Internal (disclosure decision) | TMC at ceiling regardless — limited financial impact |
| 2 | Volume shortfall (<100 TPD) | Characterization study; contract constraints | DJJ (volume delivery) | COA volume provisions; minimum delivery TBD in feasibility |
| 3 | RCRA reclassification — ASR | TCLP threshold exceedance; EPA policy shift | Carbotura (manufacturing classification) | None for counterparty under COA |
| 4 | Existing contract switching cost | Active disposal contracts — expiry unknown | DJJ (commercial decision) | Phased transition aligned to expiry; parallel disposal during overlap |
| 5 | Timeline slippage — permitting | ADEM manufacturing permit; Morgan County IDB | Carbotura (BOO operator) | First royalty deferred proportionally; no counterparty penalty |
| 6 | PCB constituent exceedance in feed | ASR PCB levels >50 ppm | Carbotura / DJJ acceptance protocol | Stream exclusion or pre-treatment; protocol defined in feasibility |
| 7 | Output commodity price decline | Synthetic graphite, hydrogen pricing | Carbotura (sole output owner) | None — counterparty return is contractually fixed |
| 8 | Technology performance variability | MCR yield vs. ASR composition | Carbotura (BOO operator) | None — counterparty TMC obligation is tonnage-based |
| 9 | Landfill cost inflation (State A) | Alabama ADEM tightening; capacity constraints | Counterparty if COA not executed | Increases urgency of COA; strengthens State B economics retrospectively |
| 10 | EV fleet ASR composition shift | Battery enclosure materials differ from ICE ASR | Carbotura (MCR adaptation) | Low — MCR handles hydrocarbon-rich polymer streams broadly |
§6.2 — Feedstock Variability ±20%
| Scenario | TPD | TPY | Year 2 Royalty | Year 2 Surplus |
|---|---|---|---|---|
| Base (100 TPD) | 100 | 36,500 | $6,570,000 | +$958,125 |
| −20% volume (80 TPD) | 80 | 29,200 | $5,256,000 | +$766,500 |
| +20% volume (120 TPD) | 120 | 43,800 | $7,884,000 | +$1,149,750 |
Volume variability scales royalty proportionally. Surplus sign does not change at any ±20% scenario.
§6.3 — FWDC Sensitivity — Sign-Change Threshold
| FWDC Scenario | Year 1 Net vs. State A | Year 2+ Net vs. State A | Sign Change? |
|---|---|---|---|
| $50/ton (below current est.) | −$100/ton vs. State A | +$76.25/ton | No (Year 2+ always positive) |
| $75/ton (ESTIMATED — planning basis) | −$75/ton vs. State A | +$101.25/ton | No |
| $100/ton | −$50/ton vs. State A | +$126.25/ton | No |
| $150/ton (RCRA reclassification threshold) | $0/ton — Year 1 breaks even | +$176.25/ton | Year 1 positive above $150 |
| $200/ton (post-reclassification) | +$50/ton — Year 1 positive | +$226.25/ton | Both periods strongly positive |
Year 2+ net position vs. State A remains positive at all FWDC levels above $0. RCRA reclassification at $150/ton eliminates the Year 1 net cost gap entirely.
§6.4 — Royalty Escalator Sensitivity
| Escalator Scenario | Year 10 Royalty/ton | Year 30 Royalty/ton | Year 30 Annual Surplus (Initial) |
|---|---|---|---|
| 0pp/year (no escalation) | $180.00 | $180.00 | +$1,617,025 |
| +1pp/year (contract base) | $233.93 | $443.23 | +$4,973,855 |
| +2pp/year (enhanced) | $291.97 | $763.65 | +$16,574,310 |
§6.5 — Timeline Slippage
| T0 Delay | Phase Initial COD | First Royalty | Royalty Deferred (Initial) |
|---|---|---|---|
| On time | T0+24mo | T0+37mo | $0 |
| 1 quarter delay | T0+27mo | T0+40mo | ~$1,643,000 deferred |
| 1 year delay | T0+36mo | T0+49mo | ~$6,570,000 deferred |
| 2 year delay | T0+48mo | T0+61mo | ~$13,140,000 deferred |
§7 — Decision Window Analysis
§7.1 — Binding Constraints
| Constraint | Named Factor | Impact |
|---|---|---|
| Active disposal contracts | DJJ/Nucor ASR disposal agreements — expiry undisclosed | Governs earliest COA transition date; contract review is first feasibility deliverable |
| ADEM manufacturing permit | Alabama Dept. of Environmental Management — manufacturing facility permit | Standard manufacturing pathway; not solid waste permitting. Estimated 12–18 month timeline. |
| Morgan County IDB site agreement | Morgan County Industrial Development Board — site control | IDB track record positive (Nucor $125M Towers & Structures, 2023). Site engagement required. |
| Carbotura financing close | Senior project finance + equity — $75M Phase Initial | Feasibility Study is prerequisite for financing commitment. 6–9 month lead time. |
§7.2 — Decision Window
| Milestone | Required By | If Missed |
|---|---|---|
| Feasibility Study authorization | T0 — as early as possible | Each quarter of delay shifts Phase Initial COD and first royalty payment by one quarter |
| Contract review complete | T0+2 months | Transition timeline undefined; parallel disposal costs continue |
| P1 site confirmed — Morgan County IDB | T0+3 months | P2/P3 fallback triggered; Carbotura financing timeline extends |
| COA execution | T0+3 months | Carbotura financing cannot close without executed COA |
| ADEM manufacturing permit application | T0+6 months | Permit clock resets; COD slips to T0+30 months or beyond |
§7.3 — Irreversibility Mechanism
The irreversibility mechanism in this engagement is the active ASR disposal contract. Once contract terms are understood and a transition window identified, the decision to redirect volume to ACM is commercially bounded — delay beyond the contract expiry window forfeits the transition without penalty provision and requires a new contracting cycle. At 400 TPD and $10.95M/year in disposal costs, each year of avoidable contract extension represents $10.95M in unrecoverable disposal expense with $0 return — while the first Circular Royalty payment at $26.28M/year (Year 2, Expanded) remains deferred.
§7.4 — Optionality Matrix
| Option | Available Now? | Preserved by Feasibility Study? | Cost of Waiting |
|---|---|---|---|
| Authorize Feasibility Study only — no COA commitment | Yes | N/A — this is the action | ~$0 (study cost only) |
| Negotiate COA terms during Feasibility Study | Yes | Yes | $0 if study authorized promptly |
| Defer to Phase Medium or Expanded entry only | Yes | Yes — COA can be structured for later phases | Lost royalty from Phase Initial period |
| Continue State A indefinitely | Yes | N/A | ~$10.95M/yr in unrecoverable disposal cost at 400 TPD; rising RCRA exposure |
§8 — Net Effects Summary
§8.1 — Fiscal Net Effects
| Period | Per-Ton Position | Annual Position (Initial) | Annual Position (Expanded) |
|---|---|---|---|
| Year 1 — Pre-Royalty | −$75/ton vs. State A (TMC premium over disposal) | −$2,737,500 vs. State A | −$10,950,000 vs. State A |
| Year 2+ — Royalty Ramp | +$101.25/ton vs. State A ($26.25 surplus + $75 avoided) | +$3,695,625 vs. State A | +$14,782,500 vs. State A |
| Year 30 — Steady State | +$211.27/ton ($136.27 surplus + $75 avoided) | +$7,711,355 | +$30,845,420 |
§8.2 — Regional Economic Net Effects
These are regional economic effects — not counterparty fiscal receipts. Not additive with Circular Royalty or disposal cost figures above.
At Expanded (400 TPD): +192 direct FTE, +480 indirect jobs, +$80.6M annual economic impact in Morgan County and North Alabama — sourced from ESTIMATED Carbotura standard employment multipliers pending feasibility study validation.
§8.3 — Environmental Net Effects
Designed-performance basis — pending ASR characterization study.
At Expanded: 146,000 tpy of ASR permanently diverted from ADEM-permitted landfill. ~87,600 tCO2e/year carbon displacement (ESTIMATED). Lead, cadmium, and PCB landfill leach risk eliminated. RCRA Subtitle C exposure eliminated via manufacturing classification.
§8.4 — Structural Net Effects
Under State B: Nucor/DJJ's ASR liability profile converts from a growing regulatory exposure to a contractually fixed, royalty-returning manufacturing feedstock relationship. The COA is a structural hedge against both FWDC escalation and RCRA reclassification for the full 30-year term.
§8.5 — Unresolved Data Gaps
| Data Gap | Impact on Analysis | Resolution Path |
|---|---|---|
| Verified FWDC (current disposal contract rates) | FWDC used at $75/ton ESTIMATED — verified rate may differ; does not affect TMC Fee or royalty | DJJ operations data disclosure in Feasibility Study |
| ASR volume confirmation (100/200/400 TPD) | All financial projections are ESTIMATED volume basis | DJJ shredder throughput data + ISRI yield verification in Feasibility Study |
| Disposal contract expiry dates | Phase Initial transition timing undefined | Contract review — first deliverable in Feasibility Study |
| ASR characterization — TCLP, PCB, composition | Environmental impact projections ESTIMATED; acceptance protocol undefined | Lab characterization — Feasibility Study |
| Morgan County IDB site terms | P1 site PROVISIONAL; P2/P3 fallback sites not engaged | IDB engagement following Feasibility Study authorization |
| Figure | Methodology | Source |
|---|---|---|
| FWDC $75/ton | SE regional blend: Alabama MSW base ($30–45/ton, EREF 2024) + ASR special handling ($20–30) + transport ($10–15) | EREF 2024; Alta Environmental ASR benchmarks |
| TMC Fee $150/ton | Agreed rate at Carbotura ceiling — not formula-derived for this engagement | Engagement agreement; Carbotura standard parameters |
| Phase sizing 100/200/400 TPD | User-specified; modules = ceil(TPD/100) per Carbotura standard | Carbotura BOO module standard |
| Royalty formula and parameters | Carbotura standard COA: 120% base, +1pp/yr, 13-month lag | Carbotura COA framework |
| Environmental performance basis | Carbotura standard parameters × TPD scalar — designed-for basis pending ASR characterization | Carbotura standard environmental model |
| Employment basis | Carbotura standard employment multipliers × TPD; regional indirect job ratio from standard multiplier tables | Carbotura standard parameters — ESTIMATED |
| Timeline basis | Carbotura standard deployment schedule — T0+24mo COD, T0+37mo first royalty | Carbotura standard parameters |
| Term | Definition |
|---|---|
| Delta Model | The analytical approach of this report: quantifying the difference between State A and State B on identical volume bases. No re-diagnosis of State A; no independent derivation of State B values. |
| Gross Cost Displacement | The disposal cost avoided per ton by redirecting ASR from landfill to ACM. At $75/ton FWDC (ESTIMATED): $2,737,500/year at Initial; $10,950,000/year at Expanded. Quantified separately from Circular Royalty. |
| Net Counterparty Fiscal Position | The combined cash position: Circular Royalty received minus TMC Fee paid, plus Gross Cost Displacement. Year 1: −$75/ton vs. State A. Year 2+: +$101.25/ton improvement vs. State A (Initial). |
| Pre-Royalty Period | Months 1–12 following Phase Initial COD. TMC Fee is paid but no Circular Royalty has commenced. Net position: −$150/ton TMC paid; −$75/ton vs. State A. Structurally inherent to rolling lagged royalty mechanism. |
| Royalty Ramp Period | Month 13 through approximately Month 24. Rolling royalty commences at $180/ton (Year 2 base). Ramp to full run-rate as 13 months of TMC payments accumulate royalty claims. |
| Steady-State Period | Year 2 onward. Royalty fully accruing at 120%+ of TMC Fee, growing at 1pp/yr differential. Surplus grows annually as royalty rate escalator outpaces TMC escalator. |
| State A | The current system as of April 2026: ASR disposed at ADEM-permitted landfills at $75/ton (ESTIMATED), $0 residual return, RCRA reclassification exposure active. |
| State B | The Carbotura ACM deployment scenario: 100→400 TPD phased ACM facility at Morgan County Industrial District, Decatur AL. TMC Fee $150/ton; Circular Royalty from Month 13. |
| US GAAP | United States Generally Accepted Accounting Principles — the applicable accounting standard for this engagement. Nucor Corporation is a US public company (NYSE: NUE) reporting under US GAAP. All Carbotura SPV Finance figures use US GAAP. |
| Registry Figure | Public Source | Confidence |
|---|---|---|
| DJJ 19 auto shredders; SE largest region | djj.com/recycling (April 2026) | VERIFIED |
| Nucor Tuscaloosa: 33.234761°N, 87.508498°W | gem.wiki/Nucor_Steel_Tuscaloosa_plant (March 2026) | VERIFIED |
| FWDC $75/ton | EREF 2024 tipping fee report; Alta Environmental ASR benchmarks | ESTIMATED |
| ASR composition 66% organic, 14% metals, 20% inerts | ISRI industry data; EPA ASR characterization (DTSC 2013) | VERIFIED |
| ASR heating value ~5,400 BTU/lb | GEP Ecotech technical documentation; EPA literature | VERIFIED |
| Morgan County IDB — $125M Towers & Structures | governor.alabama.gov (February 2023) | VERIFIED |
| RCRA Subtitle C reclassification risk for ASR | Okon Recycling technical review (Oct 2025); Alta Environmental (Oct 2024); 40 CFR §262.11 | VERIFIED |
| Carbotura EPA RCRA Solid Waste Exclusion Petition | Carbotura corporate record — February 20, 2026 | VERIFIED |
Planning basis notice: This Economic Impact Report is a delta model comparing State A and State B based on inputs from the Waste Feedstock Study and Proposal. All ESTIMATED values are flagged and require verification through a Community Feasibility Study. This document does not constitute financial, legal, or regulatory advice. US GAAP accounting standard applies.