Carbotura · Circular Advantage Program · Stage 1 · Commercial ProposalCarbotura · Programa Circular Advantage · Etapa 1 · Propuesta Comercial
Miami-Dade County
Circular Offtake ProposalCondado de Miami-Dade
Propuesta de Acuerdo Circular
A 30-year Build-Own-Operate agreement converts Miami-Dade County's 4,110 TPD of immediately accessible MSW into a net revenue-positive fiscal position from Year 2 — at a TMC Fee of $88.00/ton, $4.78 below the verified system disposal cost, with zero County capex.
Un acuerdo de Construir-Poseer-Operar de 30 años convierte los 4,110 TPD de RSU inmediatamente accesibles del Condado de Miami-Dade en una posición fiscal neta positiva desde el Año 2 — con una Tarifa TMC de $88.00/tonelada, $4.78 por debajo del costo de disposición verificado del sistema, con cero aportación de capital del Condado.
Section 0Sección 0
What This Means for Miami-Dade CountyQué Significa Esto para el Condado de Miami-Dade
Why This Proposal — Five ReasonsPor Qué Esta Propuesta — Cinco Razones
- Immediate cost savings — from Day 1.Ahorro inmediato de costos — desde el Día 1. The TMC Fee of $88.00/ton is $4.78 below the verified all-in disposal cost of $92.78/ton. Miami-Dade pays less for the same tonnage from the moment Phase Initial begins operating — before any royalty is received. La Tarifa TMC de $88.00/ton está $4.78 por debajo del costo verificado de $92.78/ton. Miami-Dade paga menos por el mismo tonelaje desde el momento en que la Fase Inicial comienza a operar — antes de recibir ninguna regalía.
- Waste becomes an income-producing instrument.Los residuos se convierten en un instrumento generador de ingresos. From Month 14, the same waste stream that was a pure cost centre generates Circular Royalty cash inflows. By Year 2, the net county position turns positive. By Year 30, Miami-Dade receives $34.61M/year in royalty alone on Phase Initial volume. The balance sheet character of waste inverts — from open-ended liability to net income position. Desde el Mes 14, el mismo flujo de residuos que era un centro de costos puro genera ingresos de Regalía Circular. En el Año 2, la posición neta del condado se vuelve positiva. En el Año 30, Miami-Dade recibe $34.61M/año solo en regalías sobre el volumen de la Fase Inicial. El carácter del balance de los residuos se invierte — de pasivo abierto a posición neta de ingresos.
- Zero capital required from the County — ever.Cero capital requerido del Condado — nunca. Carbotura designs, finances, builds, owns, and operates 100% of the ACM infrastructure. The County's only financial obligation is the per-ton TMC Fee. There is no bond issuance, no balance sheet debt, and no capital exposure at any phase from $305M through $3.47B. Carbotura diseña, financia, construye, posee y opera el 100% de la infraestructura ACM. La única obligación financiera del Condado es la Tarifa TMC por tonelada. No hay emisión de bonos, no hay deuda en el balance y no hay exposición de capital en ninguna fase de $305M a $3.47B.
- Fixed cost certainty against an open-ended escalating alternative.Certeza de costo fijo frente a una alternativa de escalada abierta. The proposed WTE contract (FPL/NextEra) prices at $105/ton +2.5%/yr for 40 years — reaching ~$272/ton by 2065 with no ceiling. The TMC Fee starts at $88.00/ton and escalates at the same 2.5%/yr — reaching $157.54/ton by Year 30. Miami-Dade saves $114.46/ton by Year 30 on every ton processed through an ACM facility. El contrato WTE propuesto (FPL/NextEra) se fija en $105/ton +2.5%/año por 40 años — alcanzando ~$272/ton para 2065 sin techo. La Tarifa TMC comienza en $88.00/ton y escala al mismo 2.5%/año — alcanzando $157.54/ton en el Año 30. Miami-Dade ahorra $114.46/ton en el Año 30 por cada tonelada procesada en una instalación ACM.
- ~$724M total county benefit over 30 years — at 500 TPD, just 7% of total addressable volume. This is the floor, not the ceiling.~$724M de beneficio total del condado durante 30 años — a 500 TPD, apenas el 7% del volumen total disponible. Este es el piso, no el techo. $28.5M gross cost avoidance plus ~$696M Circular Royalty received — two separate, additive revenue lines. Phase Initial is the minimum viable deployment. At full deployment (6,000 TPD across all three phases), the modelled 30-year county benefit is ~$8.69B — 12× the Phase Initial figure — because the royalty model scales linearly with tonnage while zero capex, fixed escalator, and the liability inversion all apply at every scale. None of this requires County capital at any phase. $28.5M de ahorro bruto más ~$696M de Regalía Circular recibida — dos líneas de ingresos separadas y aditivas. La Fase Inicial es el despliegue mínimo viable. En el despliegue completo (6,000 TPD en las tres fases), el beneficio del condado a 30 años es ~$8.69B — 12× la cifra de la Fase Inicial — porque el modelo de regalías escala linealmente con el tonelaje mientras que cero capex, escaladora fija e inversión del pasivo aplican a cada escala. Nada de esto requiere capital del Condado en ninguna fase.
- The decision window closes at WTE contract award — expected within weeks.La ventana de decisión se cierra con la adjudicación del contrato WTE — prevista en semanas. Once Miami-Dade's Board of County Commissioners executes a 25–40 year WTE agreement, the county's primary waste stream is locked at WTE pricing for the contract term. All five reasons above become unavailable. The only action that preserves this option is authorising a Community Feasibility Study before that award. Una vez que la Junta de Comisionados del Condado de Miami-Dade ejecute un acuerdo WTE de 25–40 años, el flujo principal de residuos del condado queda bloqueado a precios WTE por el plazo del contrato. Las cinco razones anteriores dejan de estar disponibles. La única acción que preserva esta opción es autorizar un Estudio de Factibilidad Comunitaria antes de esa adjudicación.
- Carbotura proposes a 30-year Circular Offtake Agreement (COA):Carbotura propone un Acuerdo Circular de Compra (COA) de 30 años: Carbotura designs, finances, builds, owns, and operates an Advanced Circular Manufacturing (ACM) facility. Miami-Dade County delivers feedstock and pays a per-ton TMC Fee. Zero County capital commitment. Zero construction debt. Zero operating liability.Carbotura diseña, financia, construye, posee y opera una instalación de Manufactura Circular Avanzada (ACM). El Condado de Miami-Dade entrega materiales y paga una Tarifa TMC por tonelada. Cero compromiso de capital del Condado. Cero deuda de construcción. Cero responsabilidad operativa.
- The County's sole financial obligation is the TMC Fee:La única obligación financiera del Condado es la Tarifa TMC: $88.00/ton — $4.78 per ton below the verified all-in disposal cost of $92.78/ton — delivering an immediate fiscal advantage from Phase Initial COD (Q2 2028).$88.00/tonelada — $4.78 por tonelada por debajo del costo verificado de $92.78/tonelada — generando una ventaja fiscal inmediata desde el COD de la Fase Inicial (T2 2028).
- The County receives a Circular Royalty beginning Month 14:El Condado recibe una Regalía Circular a partir del Mes 14: Starting 13 months after the first TMC Fee payment, Carbotura pays the County a cash royalty at 120% of the Year 1 TMC Fee rate, escalating +1 percentage point annually. At steady state, the Circular Royalty exceeds the TMC Fee on a per-ton basis — producing a net positive fiscal position.A partir de 13 meses después del primer pago de la Tarifa TMC, Carbotura paga al Condado una regalía en efectivo al 120% de la tarifa TMC del Año 1, escalando +1 punto porcentual anualmente. En estado estable, la Regalía Circular supera la Tarifa TMC por tonelada — produciendo una posición fiscal neta positiva.
- Gross cost displacement is quantified separately from Circular Royalty cash flow. Full net fiscal position reflects both. Year 1 position reflects TMC Fee savings only. Year 2+ reflects TMC Fee savings plus Circular Royalty cash receipts.El desplazamiento bruto de costos se cuantifica por separado del flujo de efectivo de la Regalía Circular. La posición fiscal neta completa refleja ambos. La posición del Año 1 refleja solo los ahorros de la Tarifa TMC. El Año 2+ refleja ahorros de la Tarifa TMC más los ingresos de la Regalía Circular.
- The decision window closes at WTE contract award:La ventana de decisión se cierra con la adjudicación del contrato WTE: Miami-Dade County's Board of County Commissioners is expected to award a 25–40 year WTE contract in Q1–Q2 2026. That award permanently locks the county's MSW disposal pathway and per-ton cost trajectory. A Community Feasibility Study authorized before that award preserves the ACM pathway.Se espera que la Junta de Comisionados del Condado de Miami-Dade adjudique un contrato WTE de 25–40 años en T1–T2 2026. Esa adjudicación bloquea permanentemente el acceso a RSU del condado y la trayectoria de costo por tonelada. Un Estudio de Factibilidad Comunitaria autorizado antes de esa adjudicación preserva el camino ACM.
Section 1
Commercial Structure and Decision Window
§1.1 — Circular Offtake Agreement StructureEstructura del Acuerdo Circular de Compra
| ElementElemento | Miami-Dade County CommitsCompromisos del Condado de Miami-Dade | Carbotura CommitsCompromisos de Carbotura |
|---|---|---|
| CapitalCapital | Zero capital commitmentCero compromiso de capital | 100% capex (Phase Initial: $305M; Full: up to $3.47B) |
| ConstructionConstrucción | Site access; permitting cooperationAcceso al sitio; cooperación en permisos | Design, finance, build — turnkey deliveryDiseño, financiamiento, construcción — entrega llave en mano |
| OperationsOperaciones | Zero operating liabilityCero responsabilidad operativa | Own and operate facility for 30-year COA term |
| Feedstock deliveryEntrega de materiales | Deliver contracted feedstock volume at TMC Fee | Accept all contracted feedstock streams |
| Cost certainty | TMC Fee fixed at $88.00/ton escalating 2.5%/yr | No pass-through of operating cost increases to County |
| Revenue return | Receive Circular Royalty from Month 14 | Pay rolling Circular Royalty on 13-month lag |
| Term | 30 years from Phase Initial COD | 30-year BOO; facility returns to County at term end |
§1.2 — Decision WindowVentana de Decisión
Decision deadline: Before WTE contract award (expected Q1–Q2 2026).Plazo de decisión: Antes de la adjudicación del contrato WTE (prevista T1–T2 2026). A Community Feasibility Study must be authorized before the WTE bid is awarded to preserve the ACM pathway. The Feasibility Study (T0 to T0+3 months) leads directly to Phase Initial construction start (T0+6 months) and COD (T0+24 months). Working backward from the WTE award window: authorization is required no later than March 2026 for the county to have a full Feasibility Study in hand before a WTE contract is executed.
Section 2
Deployment Architecture
§2.1 — Phase ConfigurationConfiguración de Fases
| PhaseFase | TPD | ModulesMódulos | Annual Feedstock (TPY)Materiales Anuales (TPY) | % of IMMEDIATE% del INMEDIATO | CapExCapEx | COD / Full OpsCOD / Ops Completas |
|---|---|---|---|---|---|---|
| Phase InitialFase Inicial | 500 | 5 | 182,500 | 12% | $305M | Q2 2028 |
| Milestone 1,000 TPD | 1,000 | 10 | 365,000 | 24% | $592.5M | Q4 2028 |
| Phase MediumFase Media | 2,000 | 20 | 730,000 | 49% | $1,167.5M | Q4 2029 |
| Milestone 4,000 TPD | 4,000 | 40 | 1,460,000 | 97% | $2,317.5M | Q4 2030 |
| Phase ExpandedFase Expandida | 6,000 | 60 | 2,190,000 | 146% (regional draw) | $3,467.5M | Q2 2031 |
Table 2.1 — Phase Configuration
CapEx: $75M first 100 TPD module + $57.5M each additional 100 TPD module (Carbotura standard parameters)
Phase Expanded exceeds total county addressable volume — consistent with dual in-county + rail-connected site strategy
Phase InitialFase Inicial 500 TPD · Q2 2028 · $305M
Phase MediumFase Media 2,000 TPD · Q4 2029 · $1.17B
Phase ExpandedFase Expandida 6,000 TPD · Q2 2031 · $3.47B
Chart — Phase Deployment Scale | Source: Carbotura standard CapEx parameters; Carbotura standard deployment schedule, T0 = Q2 2026
§2.2 — BOO Capital StructureEstructura de Capital BOO
Zero Miami-Dade County capital at every phase.Cero capital del Condado de Miami-Dade en cada fase. Carbotura designs, finances, builds, owns, and operates all ACM facilities under the COA. The County's sole financial obligation is the per-ton TMC Fee on delivered feedstock. There is no construction debt on the County's balance sheet, no operating cost exposure, and no residual liability. At COA term end (30 years from Phase Initial COD), facility assets transfer to the County.Carbotura diseña, financia, construye, posee y opera todas las instalaciones ACM bajo el COA. La única obligación financiera del Condado es la Tarifa TMC por tonelada entregada. No hay deuda de construcción en el balance del Condado, sin exposición a costos operativos, y sin responsabilidad residual. Al final del plazo del COA (30 años desde el COD de la Fase Inicial), los activos de la instalación se transfieren al Condado.
§2.3 — Feedstock Stream Coverage by PhaseCobertura de Flujos de Materiales por Fase
| StreamFlujo | Phase InitialFase Inicial | Phase MediumFase Media | Phase ExpandedFase Expandida | Access StatusEstado de Acceso |
|---|---|---|---|---|
| MSW / Refuse-Derived Waste | ✅ Primary | ✅ Core | ✅ Core | IMMEDIATE |
| Construction & Demolition Debris | — | ✅ Added | ✅ Full | CONDITIONAL |
| Recyclables (contaminated / rejected) | — | ✅ Added | ✅ Full | CONDITIONAL |
| Yard Waste / Green Waste | — | ✅ Added | ✅ Full | CONDITIONAL |
| Biosolids (wet) — WASD | — | ✅ Added | ✅ Full | CONDITIONAL |
| Organics / Food Scraps — Commercial | — | — | ✅ Added | ACCESSIBLE |
| Special Waste / HHW | — | — | ✅ Added | ACCESSIBLE |
§2.4 — Site Candidate Analysis
Priority 1 finding — West Dade Industrial Corridor (P1):Hallazgo Prioridad 1 — Corredor Industrial West Dade (P1): The West Dade Industrial Corridor offers co-location advantage with the planned FPL Sustainable Solid Waste Campus site (West Dade Nurseries parcel, Okeechobee Road), direct I-75 / SR-836 highway access, and proximity to both the West Transfer Station (~8 miles) and Central Transfer Station (~12 miles). Industrial land availability at 50–80 acres within Miami-Dade County eliminates rail dependency for Phase Initial. P1 is rated highest for Phase Initial execution speed.
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Zone cards are fully available in the panel →
ACM Site Candidates
P1
West Dade Industrial Corridor
TypeIn-County · Industrial
Acreage50–80 acres available
ZoningIU-1 Industrial
AuthorityMiami-Dade County / private (West Dade Nurseries parcel)
Co-locationFPL WTE campus candidate site; I-75 / SR-836 interchange; US-27 corridor
To West TS~8 miles (2900 SW 72nd Ave)
To Central TS~12 miles (1150 NW 20th St)
To NE TS~24 miles (18701 NE 6th Ave)
Miami-Dade Planning ↗
DRER Permitting ↗
P2
South Dade Industrial Zone
TypeIn-County · Industrial
Acreage40–60 acres adjacent to DSWM facilities
ZoningGU / Industrial (adjacent to SDL)
AuthorityMiami-Dade DSWM / County
Co-locationSouth Dade Landfill (direct); South District WWTP (~2 mi); Black Point industrial corridor
To South TS~3 miles (DSWM South Dade facilities)
To West TS~22 miles
To WASD SDL WWTP~2 miles — dual-stream convergence
Miami-Dade Zoning ↗
DSWM ↗
P3
South Bay / Belle Glade (Rail-Connected)
TypeOutside County · Rail-Connected via CSX
Acreage100+ acres available
ZoningIL Industrial Light / Ag-Industrial transition
AuthorityPalm Beach County / private
Co-locationCSX Okeechobee Subdivision direct access; US-27 corridor; low land cost; large parcel availability
Rail to MD~70 miles via CSX (up to 400,000 TPY confirmed capacity)
Phase fitPhase Initial (182,500 TPY) within CSX confirmed rail capacity
Palm Beach Zoning ↗
PBC Planning & Zoning ↗
FEEDSTOCK REF
West Transfer Station
Address2900 SW 72nd Ave, Miami, FL · 1,300 TPD capacity
FEEDSTOCK REF
Central Transfer Station
Address1150 NW 20th St, Miami, FL · 1,200 TPD capacity
Site Candidate Summary Table
| PriorityPrioridad | ZoneZona | TypeTipo | AcreageSuperficie | ZoningZonificación | Co-location AdvantageVentaja de Co-ubicación | Key ConsiderationConsideración Clave |
|---|---|---|---|---|---|---|
| P1 | West Dade Industrial Corridor | In-County | 50–80 ac | IU-1 | FPL WTE campus adjacency; I-75/SR-836 access; near West + Central TSs | Active WTE procurement at same location — coordination required |
| P2 | South Dade Industrial Zone | In-County | 40–60 ac | GU | Direct South Dade Landfill co-location; South District WWTP 2 miles; dual-stream convergence | Distance from North/Central transfer stations (~22+ miles) |
| P3 | South Bay / Belle Glade, PBC | Rail-Connected | 100+ ac | IL | CSX direct; low land cost; 100+ acres; large Phase Expanded build footprint | Rail transfer station construction required; outside county jurisdiction |
§2.5 — Phase Initial Feedstock Sufficiency
Phase Initial (500 TPD / 182,500 TPY) is fully supportable from immediately accessible streams — no third-party contract negotiation required.La Fase Inicial (500 TPD / 182,500 TPY) es completamente sostenible con flujos de acceso inmediato — no se requiere negociación de contratos con terceros. The IMMEDIATE MSW stream (4,110 TPD) is 8.2× Phase Initial capacity. Miami-Dade County holds no active exclusive thermal disposal contract as of March 2026. Phase Initial is entirely supportable from county-controlled MSW flow, regardless of conditional stream outcomes.
Section 3
Economic Structure — TMC Fee
§3.1 — FWDC Planning Basis
FWDC: $92.78/ton — VERIFIED (DSWM Disposal Facility Fee Schedule, Oct 1, 2025).CFRD: $92.78/tonelada — VERIFICADO (Programa de Tarifas DSWM, 1 oct. 2025).
Derivation: $76.12/ton (contract disposal rate) + $16.66/ton (Regional Transfer Station transfer fee) = $92.78/ton all-in contracted cost. Source: miamidade.gov/resources/solid-waste/documents/disposal-facility-fees.pdf · October 1, 2025.
Derivation: $76.12/ton (contract disposal rate) + $16.66/ton (Regional Transfer Station transfer fee) = $92.78/ton all-in contracted cost. Source: miamidade.gov/resources/solid-waste/documents/disposal-facility-fees.pdf · October 1, 2025.
§3.2 — TMC Fee Formula
Step 1 — Derive proposed TMC Fee from FWDCPaso 1 — Derivar Tarifa TMC propuesta del CFRD
FWDC − Discount = $92.78 − $4.78 = $88.00/ton (proposed TMC)
Step 2 — Apply floor and ceiling guardrails (Carbotura standard parameters)Paso 2 — Aplicar topes mínimos y máximos (parámetros estándar Carbotura)
TMC_Fee = MAX( Floor $85, MIN( Ceiling $150, Proposed $88.00 ) ) = $88.00/ton ✓
The floor ($85) protects Carbotura minimum viable revenue · The ceiling ($150) protects the County from over-pricing · At FWDC $92.78, neither guardrail binds — the proposed rate of $88.00 passes through unchangedEl piso ($85) protege el ingreso mínimo viable de Carbotura · El techo ($150) protege al Condado de sobrecostos · Con CFRD $92.78, ninguno se activa — la tarifa propuesta $88.00 pasa sin cambios
TMC Fee Year 1: $88.00/ton · Immediate saving: $4.78/ton vs. verified FWDC $92.78/ton · Escalator: 2.5%/yearTarifa TMC Año 1: $88.00/ton · Ahorro inmediato: $4.78/ton vs. CFRD verificado $92.78/ton · Escaladora: 2.5%/año
| PhaseFase | TPD | Annual Volume (TPY)Volumen Anual (TPY) | TMC Fee Year 1Tarifa TMC Año 1 | Annual Obligation Year 1Obligación Anual Año 1 | FWDC ComparisonComparación con CFRD | Year 1 Gross SavingsAhorro Bruto Año 1 |
|---|---|---|---|---|---|---|
| Phase InitialFase Inicial | 500 | 182,500 | $88.00/ton | $16,060,000 | $92.78/ton → $16,932,350 | $872,350/yr |
| Phase MediumFase Media | 2,000 | 730,000 | $88.00/ton | $64,240,000 | $92.78/ton → $67,729,400 | $3,489,400/yr |
| Phase ExpandedFase Expandida | 6,000 | 2,190,000 | $88.00/ton | $192,720,000 | $92.78/ton → $203,188,200 | $10,468,200/yr |
Table 3.2 — Annual TMC Fee Obligations
Year 1 figures only. TMC Fee escalates at 2.5%/yr (Carbotura standard parameters). FWDC VERIFIED · TMC Fee ESTIMATED based on VERIFIED FWDC.
Section 4
Circular Royalty
§4.1 — Contractual Definition and Formula
Circular Royalty — authoritative formula
Royalty(m+13) = TMC(m) × Royalty_Rate(m)
Where: m = month of TMC Fee payment · m+13 = month of corresponding Circular Royalty payment · 13-month lag is contractually fixed · Royalty_Rate(m) = 120% Year 1 base; escalates +1 percentage point per year
§4.2 — Parameter Table
| ParameterParámetro | ValueValor | BasisBase |
|---|---|---|
| Royalty base rate (Year 1) | 120% of Year 1 TMC Fee | Carbotura standard parameters |
| TMC Fee Year 1Tarifa TMC Año 1 | $88.00/ton | VERIFIED FWDC-anchored |
| Royalty Year 2 rate | 120% × $88.00 = $105.60/ton | Derived |
| TMC Fee escalatorEscaladora de Tarifa TMC | 2.5%/year | Carbotura standard parameters |
| Royalty rate escalator | +1 percentage point/year (120% → 121% → 122% …) | Carbotura standard parameters |
| Payment lag | 13 months after corresponding TMC Fee payment | Carbotura standard — contractually fixed |
| Royalty structure type | Rolling lagged cash flow (monthly) | Carbotura standard parameters |
| COA termPlazo del COA | 30 years from Phase Initial COD | Carbotura standard parameters |
§4.3 — Fiscal Period Distinction (Mandatory)
| PeriodPeríodo | TimingCronología | County Fiscal PositionPosición Fiscal del Condado | Per-Ton (500 TPD)Por Tonelada (500 TPD) | Annual Impact (500 TPD)Impacto Anual (500 TPD) |
|---|---|---|---|---|
| Pre-Royalty Period | Months 1–13 after first delivery (Q2 2028 – Q3 2029) | County pays TMC Fee; receives $0 royalty | −$88.00/ton vs. −$92.78/ton FWDC → saves $4.78/ton | −$16.06M TMC · +$0.87M gross savings |
| Royalty Ramp Begins | Month 14 (first royalty payment Q3 2029 onwards) | County pays TMC Fee + receives rolling royalty payments | $105.60 royalty − $90.20 TMC = +$15.40/ton net | +$2.81M/yr and growing |
| Steady State Year 5 | Year 5 (2033) | Net positive — royalty well above TMC Fee | +$116.72 royalty − $98.00 TMC = +$18.72/ton | +$3.42M/yr |
| Steady State Year 10 | Year 10 (2038) | Net positive — growing spread | +$136.40 royalty − $111.17 TMC = +$25.23/ton | +$4.60M/yr |
| Steady State Year 30 | Year 30 (2058) | Maximum spread — terminal year | +$189.65 royalty − $157.54 TMC = +$32.11/ton | +$5.86M/yr |
Table 4.3 — Fiscal Period Distinction (Phase Initial 500 TPD basis)
Pre-royalty period = 13 months. Royalty Year N rate = (119 + N)% of TMC Fee Year N. TMC Fee Year N = $88.00 × 1.025^(N−1)
§4.4 — Year-by-Year Cash Flow Table (Phase Initial — 500 TPD)
| YearAño | Avoided Disposal/tonCosto Evitado/ton | TMC Rate ($/ton)Tarifa TMC ($/ton) | Annual TMC ($M) | Royalty RateTasa de Regalía | Royalty/tonRegalía/ton | Annual Royalty ($M) | Surplus (Royalty − TMC)/tonSuperávit (Regalía − TMC)/ton | Net Annual ($M) |
|---|---|---|---|---|---|---|---|---|
| 1 | $88.00 | $16.06 | Pre-royalty | $0.00 | $0.00 | −$88.00 (saves $4.78 vs FWDC) | −$16.06 | |
| Pre-royalty months 1–13 | No royalty payment received — lag period (13 months) | |||||||
| 2 (Month 14+) | $90.20 | $16.46 | 120% | $105.60 | $19.27 | +$15.40 | +$2.81 | |
| 5 | $98.00 | $17.89 | 123% | $116.72 | $21.30 | +$18.72 | +$3.42 | |
| 10 | $111.17 | $20.29 | 128% | $136.40 | $24.89 | +$25.23 | +$4.60 | |
| 20 | $139.94 | $25.54 | 138% | $168.73 | $30.79 | +$28.79 | +$5.25 | |
| 30 | $157.54 | $28.75 | 148% | $189.65 | $34.61 | +$32.11 | +$5.86 | |
Table 4.4 — Year-by-Year Cash Flow (Phase Initial 500 TPD)
TMC Year N = $88.00 × 1.025^(N−1). Royalty Year N = TMC(Year N−1) × (119+N)%. Annual figures = per-ton × 182,500 TPY. All figures ESTIMATED.
§4.5 — Fiscal Position — Three Gross Items, Years 1–20Posición Fiscal — Tres Elementos Brutos, Años 1–20
Three independent datasets — nothing pre-netted. Avoided disposal cost (what the County saves vs. FWDC) is positive every year. TMC Fee paid is negative every year. Circular Royalty received is zero in Year 1 (13-month lag) then positive from Year 2 onward.Tres conjuntos de datos independientes — nada pre-neteado. El costo de disposición evitado es positivo cada año. La Tarifa TMC pagada es negativa cada año. La Regalía Circular es cero en el Año 1 y positiva desde el Año 2 en adelante.
Avoided disposal costCosto de disposición evitado
TMC Fee paidTarifa TMC pagada
Circular Royalty receivedRegalía Circular recibida
$92.78
Avoided disposal · Year 1Costo evitado · Año 1
$88.0
TMC Fee paid · Year 1Tarifa TMC pagada · Año 1
$105.6
Royalty received · Year 2Regalía recibida · Año 2
Fiscal Position — Three Gross Items, Years 1–20Posición Fiscal — Tres Elementos Brutos, Años 1–20
·
Royalty income exceeds TMC Fee from Year 2. Avoided disposal cost is present from Year 1. All figures gross — not pre-netted.
Los ingresos de regalía superan la Tarifa TMC desde el Año 2. El costo de disposición evitado está presente desde el Año 1. Todas las cifras son brutas — no neteadas.
·
Source: Carbotura Circular Advantage modeling · Registry values · All ESTIMATEDFuente: Modelo Carbotura Circular Advantage · Valores del registro · Todos ESTIMADOS
Three Contractual Positions on Circular Royalty — Required DisclosuresTres Disposiciones Contractuales sobre la Regalía Circular — Divulgaciones Requeridas
- "Gross cost displacement is quantified separately from Circular Royalty cash flow. Full net fiscal position reflects both.""El desplazamiento bruto de costos se cuantifica por separado del flujo de efectivo de la Regalía Circular. La posición fiscal neta completa refleja ambos."
- "At steady state, the Circular Royalty is designed to exceed the TMC Fee on a per-ton basis.""En estado estable, la Regalía Circular está diseñada para superar la Tarifa TMC por tonelada."
- "Circular Royalty payments begin 13 months after corresponding TMC Fee payments and ramp to full run-rate on a rolling basis.""Los pagos de la Regalía Circular comienzan 13 meses después de los pagos correspondientes de la Tarifa TMC y aumentan gradualmente hasta la tasa completa de manera continua."
Section 5
Risk Register
| RiskRiesgo | Key Driver | Who Bears It | MitigationMitigación | Residual Exposure |
|---|---|---|---|---|
| FWDC verification | Contracted rate may change at 2025 renewal | County / shared | FWDC VERIFIED at $92.78/ton Oct 2025; TMC Fee formula re-anchors at Feasibility Study | Low — fee schedule published publicly |
| Technology performance | ACM output recovery rate below projections | Carbotura | BOO structure — Carbotura bears all operating risk; County pays fixed TMC Fee regardless | None to County |
| Timeline slippage | Permitting or site delays beyond T0+24 months | Carbotura / shared | Carbotura standard schedule includes 6-month pre-construction buffer; COD milestone contractually guaranteed | Low — County has no capital at risk |
| WTE contract award before ACM | BCC awards WTE contract before Feasibility Study authorized | County | Authorize Community Feasibility Study before Q1–Q2 2026 WTE award date | HIGH if no action — irreversible |
| Third-party contract constraints | Conditional stream access negotiations fail | Shared | Phase Initial uses IMMEDIATE stream only — zero dependency on conditional streams for Phase Initial | Low for Phase Initial; Medium for Phase Medium |
| Competitive procurement | BCC selects competing disposal technology | County | ACM engagement before WTE award; Feasibility Study establishes comparator analysis | High — time-sensitive |
| Residual stream / ash | ACM residual fraction requires disposal | Carbotura | BOO structure — all residual disposal is Carbotura's operational responsibility | None to County |
| PFAS regulatory | Evolving FDEP / EPA PFAS rules affect biosolids and leachate | Carbotura / shared | ACM process handles PFAS-bearing streams; Carbotura bears regulatory compliance cost | Low for Phase Initial (MSW only) |
Section 6
Deployment Timeline
| MilestoneHito | Target DateFecha Objetivo | NotesNotas |
|---|---|---|
| ⚠ WTE Bid Award (hard external deadline) | Q1–Q2 2026 (expected) | BCC directed Jan 16, 2026 decision; extended. Award expected within weeks. Locks MSW pathway for 25–40 years. |
| Community Feasibility Study — authorize | Before WTE award · March 2026 | Must precede WTE contract execution to preserve ACM option |
| Community Feasibility Study — complete | T0 + 3 months | T0 = Q2 2026 (Carbotura standard schedule) |
| Phase Initial construction start | T0 + 6 months (Q4 2026) | Site P1 preferred — no rail transfer station required |
| Phase Initial CODCOD Fase Inicial | T0 + 24 months (Q2 2028) | 500 TPD operational — MSW stream only |
| First Circular Royalty paymentPrimer pago de Regalía Circular | T0 + 37 months (Q3 2029) | 13 months after Phase Initial COD · Rolling lagged cash flow begins |
| Phase Medium full operations | T0 + 42 months (Q4 2029) | 2,000 TPD — conditional streams integrated |
| Phase Expanded full operations | T0 + 60 months (Q2 2031) | 6,000 TPD — full addressable volume + regional draw |
| COA term end / facility transfer | T0 + 30 years (Q2 2058) | All ACM assets transfer to Miami-Dade County |
Table 6 — Deployment TimelineTabla 6 — Cronograma de Despliegue
All dates on Carbotura standard deployment schedule. T0 = Q2 2026. Red row = hard external deadline. Yellow rows = critical decision milestones.
Section 7Sección 7
County Fiscal Return — Full PictureRetorno Fiscal del Condado — Panorama Completo
Two distinct financial benefits — reported separately, never combined:Dos beneficios financieros distintos — reportados por separado, nunca combinados:
① Gross Cost Avoidance — The County pays $88.00/ton instead of $92.78/ton. Active from COD (Q2 2028). Locked in regardless of royalty performance.
② Circular Royalty Received — Carbotura pays the County a cash royalty beginning Month 14 (Q3 2029), growing every year. At Year 30 the royalty rate reaches 148% of the TMC Fee — the County receives more than it pays. ① Ahorro Bruto de Costos — El Condado paga $88.00/ton en lugar de $92.78/ton. Activo desde el COD (T2 2028). Garantizado independientemente del desempeño de la regalía.
② Regalía Circular Recibida — Carbotura paga al Condado una regalía en efectivo a partir del Mes 14 (T3 2029), creciendo cada año. En el Año 30 la tasa de regalía alcanza el 148% de la Tarifa TMC — el Condado recibe más de lo que paga.
① Gross Cost Avoidance — The County pays $88.00/ton instead of $92.78/ton. Active from COD (Q2 2028). Locked in regardless of royalty performance.
② Circular Royalty Received — Carbotura pays the County a cash royalty beginning Month 14 (Q3 2029), growing every year. At Year 30 the royalty rate reaches 148% of the TMC Fee — the County receives more than it pays. ① Ahorro Bruto de Costos — El Condado paga $88.00/ton en lugar de $92.78/ton. Activo desde el COD (T2 2028). Garantizado independientemente del desempeño de la regalía.
② Regalía Circular Recibida — Carbotura paga al Condado una regalía en efectivo a partir del Mes 14 (T3 2029), creciendo cada año. En el Año 30 la tasa de regalía alcanza el 148% de la Tarifa TMC — el Condado recibe más de lo que paga.
§7.1 — Complete County Fiscal Return (Phase Initial — 500 TPD, 182,500 TPY)§7.1 — Retorno Fiscal Completo del Condado (Fase Inicial — 500 TPD, 182,500 TPY)
| YearAño | State A Cost (FWDC)Costo Estado A (CFRD) | TMC Fee PaidTarifa TMC Pagada | ① Gross Cost Avoidance① Ahorro Bruto de Costos | ② Royalty Received② Regalía Recibida | Total County Benefit ①+②Beneficio Total Condado ①+② | Cumulative BenefitBeneficio Acumulado |
|---|---|---|---|---|---|---|
| Year 1Año 1 Pre-royaltyPre-regalía |
$16.93M | $16.06M | +$0.87M | $0.00 (13-month lag) | +$0.87M | +$0.87M |
| Year 2Año 2 Royalty beginsComienza regalía |
$17.35M | $16.46M | +$0.89M | +$19.27M | +$20.16M | +$21.03M |
| Year 5Año 5 | $18.68M | $17.89M | +$0.79M | +$21.30M | +$22.09M | ~$84M |
| Year 10Año 10 | $21.10M | $20.29M | +$0.81M | +$24.89M | +$25.70M | ~$225M |
| Year 20Año 20 | $26.57M | $25.54M | +$1.03M | +$30.79M | +$31.82M | ~$544M |
| Year 30Año 30 | $29.90M | $28.75M | +$1.15M | +$34.61M | +$35.76M | ~$724M |
Table 7.1 — Complete County Fiscal Return (Phase Initial 500 TPD)Tabla 7.1 — Retorno Fiscal Completo del Condado (Fase Inicial 500 TPD)
① Gross Cost Avoidance = FWDC cost if no ACM minus TMC Fee actually paid. Starts COD, every year for 30 years. ② Royalty Received = cash payments from Carbotura starting Month 14. Both lines are additive. State A FWDC escalated 2.5%/yr for comparability. All ESTIMATED except Year 1 FWDC (VERIFIED $92.78/ton).
① Ahorro = costo CFRD sin ACM menos Tarifa TMC realmente pagada. Desde COD, cada año 30 años. ② Regalía = pagos en efectivo de Carbotura desde el Mes 14. Ambas líneas son aditivas. Todos ESTIMADOS excepto CFRD Año 1 (VERIFICADO $92.78/ton).
§7.2 — 30-Year Total County Benefit by Phase§7.2 — Beneficio Total del Condado a 30 Años por Fase
| PhaseFase | TPD | 30-yr Gross Cost Avoidance ①Ahorro Bruto 30 años ① | 30-yr Royalty Received ②Regalía Recibida 30 años ② | Total County Benefit ①+②Beneficio Total Condado ①+② | County CapEx AvoidedCapEx del Condado Evitado |
|---|---|---|---|---|---|
| Phase InitialFase InicialFase Inicial | 500 | ~$28.5M | ~$696M | ~$724M | $305M avoidedevitado |
| Phase MediumFase MediaFase Media | 2,000 | ~$114M | ~$2.78B | ~$2.89B | $1.17B avoidedevitado |
| Phase ExpandedFase ExpandidaFase Expandida | 6,000 | ~$342M | ~$8.35B | ~$8.69B | $3.47B avoidedevitado |
Table 7.2 — 30-Year County Benefit by Phase (undiscounted)Tabla 7.2 — Beneficio del Condado a 30 Años por Fase (sin descontar)
Royalty = TMC_Year_N × Royalty_Rate_N × 182,500 TPY (500 TPD), summed across 30 years less 13-month pre-royalty period. Phases Medium and Expanded scale linearly from Phase Initial royalty model. All ESTIMATED.
Regalía = Tarifa_TMC_Año_N × Tasa_Regalía_Año_N × TPY de la fase, sumado durante 30 años menos período pre-regalía de 13 meses. Todos ESTIMADOS.
§7.3 — County Balance Sheet Impact: State A vs. State B§7.3 — Impacto en el Balance del Condado: Estado A vs. Estado B
| Balance Sheet ItemElemento del Balance | State A — No ACMEstado A — Sin ACM | State B — With ACM COAEstado B — Con COA ACM | ImpactImpacto |
|---|---|---|---|
| Annual disposal cost (Year 1, 500 TPD)Costo anual de disposición (Año 1, 500 TPD) | $16.93M/yr (FWDC $92.78/ton) | $16.06M/yr (TMC $88.00/ton) | −$0.87M/yr lower from Day 1menor desde el Día 1 |
| Capital expenditure requiredGasto de capital requerido | $556M+ (new County landfill) or $1.5B–$1.9B (new WTE facility)$556M+ (nuevo relleno del condado) o $1.5B–$1.9B (nueva instalación WTE) | $0 | Full CapEx avoidedCapEx total evitado |
| New revenue to CountyNuevos ingresos para el Condado | $0 | $19.27M/yr from Year 2 (Phase Initial)desde Año 2 (Fase Inicial) | +$19.27M/yr new cash flownuevo flujo de efectivo |
| Per-ton cost trajectory (Year 30)Trayectoria de costo por tonelada (Año 30) | $272/ton (WTE $105/ton +2.5%/yr × 40yr) VERIFIED forward rate | $157.54/ton (TMC $88/ton +2.5%/yr × 30yr) | −$114.46/ton by Year 30en el Año 30 |
| Balance sheet character of waste obligationCarácter en el balance de la obligación de residuos | Pure long-term liability — open-ended disposal cost, escalating every year, no revenue offset, no income returnPasivo puro a largo plazo — costo de disposición abierto, escalando cada año, sin compensación de ingresos ni retorno | Income-producing instrument — the same waste stream generates Circular Royalty cash inflows from Month 14. Disposal cost converts to net revenue position from Year 2.Instrumento generador de ingresos — el mismo flujo de residuos genera ingresos de Regalía Circular desde el Mes 14. El costo de disposición se convierte en posición neta de ingresos desde el Año 2. | Liability inverted to net income positionPasivo invertido a posición neta de ingresos |
| Residual environmental liabilityResponsabilidad ambiental residual | Landfill leachate, PFAS, odour — County liability ongoingLixiviados de relleno, PFAS, olores — responsabilidad del Condado en curso | All residual handling by Carbotura under BOO — zero County liabilityTodo manejo residual por Carbotura bajo BOO — cero responsabilidad del Condado | Full liability transferTransferencia total de responsabilidad |
Table 7.3 — County Balance Sheet ImpactTabla 7.3 — Impacto en el Balance del Condado
State A WTE trajectory sourced from FPL/NextEra BCC proposal (VERIFIED, BCC Item Y2025/252456, Dec 2025). State B figures ESTIMATED except FWDC comparator (VERIFIED).
Trayectoria WTE Estado A de propuesta FPL/NextEra al BCC (VERIFICADO, BCC Item Y2025/252456, dic. 2025). Cifras Estado B ESTIMADAS excepto comparador CFRD (VERIFICADO).
§7.4 — Regional Economic Effects (Distinct from Fiscal)§7.4 — Efectos Económicos Regionales (Distintos del Fiscal)
| EffectEfecto | Phase InitialFase InicialFase Inicial | Phase ExpandedFase ExpandidaFase Expandida | StatusEstado |
|---|---|---|---|
| Direct FTE employmentEmpleo FTE directo | ~175 jobsempleos | ~1,750 jobsempleos | ESTIMATED |
| Indirect / induced jobsEmpleos indirectos / inducidos | ~280 | ~2,800 | ESTIMATED |
| Annual economic impactImpacto económico anual | ~$140M/yr | ~$1.6B/yr | ESTIMATED |
| Carbon avoidedCarbono evitado | ~315,000 tCO₂e/yr | ~3,780,000 tCO₂e/yr | ESTIMATED |
Regional economic effects are additive to County fiscal receipts — not a substitute for them. Reported separately per EIR dependency rule.Los efectos económicos regionales son adicionales a los ingresos fiscales del Condado — no son un sustituto de ellos. Reportados por separado.
Section 8
Why This Works in Miami-Dade County
- Volume alignment:Alineación de volumen: Miami-Dade County generates waste at twice the national average per capita — 7,225 TPD total addressable across seven streams, with 4,110 TPD in the IMMEDIATE classification. This volume supports all three deployment phases without regional feedstock aggregation.
- Infrastructure alignment:Alineación de infraestructura: Three Regional Transfer Stations (combined capacity 3,800 TPD) are already operational and positioned for Phase Initial feedstock consolidation. Site P1 (West Dade Industrial Corridor) is within 8 miles of the West Transfer Station — the largest of the three. Site P3 (South Bay / Belle Glade) connects to the same feedstock network via CSX rail, already in county-level negotiation.
- Contract timing alignment:Alineación del momento contractual: Miami-Dade County holds no active exclusive thermal disposal contract as of March 2026 — a directly consequence of the February 2023 RRF fire. This is the narrowest and most accessible engagement window of any large US county. The BCC's WTE award decision (Q1–Q2 2026) is the expiration date of this window.
- Policy alignment:Alineación de políticas: The Zero Waste Master Plan (40% diversion target, active public workshops in 2026) is structurally compatible with ACM deployment. ACM enables material diversion accounting without landfill or incineration dependency. The concurrency requirement (must demonstrate disposal capacity before issuing development permits) creates a formal policy driver for long-term disposal capacity commitments.
- Organic mandate / regulatory driver:Mandato orgánico / impulsor regulatorio: WASD's Ocean Outfall Legislation compliance (2025 deadline) and biosolids-to-hydrogen pilot represent institutional momentum toward alternative biosolids pathways. ACM Phase Medium absorbs 265 TPD of WASD biosolids, directly addressing WASD's documented long-haul trucking cost burden.
- Economics specificity:Especificidad económica: The TMC Fee of $88.00/ton is anchored to the verified Miami-Dade DSWM contract disposal rate of $76.12/ton + $16.66/ton transfer fee = $92.78/ton FWDC, sourced directly from the official DSWM Disposal Facility Fee Schedule (October 1, 2025). The $4.78/ton immediate per-ton advantage is not a modeled estimate — it derives from a verified published government fee schedule.
Executive Implications — ProposalImplicaciones Ejecutivas — Propuesta
- The County receives ~$724M in total benefit from Phase Initial — 500 TPD, 7% of addressable volume — over 30 years: ~$28.5M gross cost avoidance + ~$696M Circular Royalty. This is the floor. At full deployment the 30-year county benefit is ~$8.69B. Two separate, additive lines — the royalty dominates, but the cost avoidance is real, begins at COD, and requires no royalty to materialise.
- El Condado recibe ~$724M en beneficio total de la Fase Inicial — 500 TPD, 7% del volumen disponible — durante 30 años: ~$28.5M ahorro bruto + ~$696M Regalía Circular. Este es el piso. En el despliegue completo el beneficio del condado a 30 años es ~$8.69B. Dos líneas separadas y aditivas — la regalía domina, pero el ahorro de costos es real, comienza en el COD y no requiere que la regalía se materialice.
- From Year 2 the County receives both streams simultaneously. Year 2 total: $0.89M avoidance + $19.27M royalty = $20.16M. This grows to $35.76M/year by Year 30. Across all three phases at full deployment, estimated 30-year County benefit is ~$8.69B.
- Desde el Año 2 el Condado recibe ambas corrientes simultáneamente. Año 2 total: $0.89M ahorro + $19.27M regalía = $20.16M. Esto crece a $35.76M/año en el Año 30. En las tres fases a pleno despliegue, beneficio estimado del condado a 30 años: ~$8.69B.
- Zero county capex across all phases — and the balance sheet character of waste inverts. The County's $305M–$3.47B capital obligation in State A disappears entirely. More fundamentally, the waste stream itself transforms: what was a pure long-term liability generating only costs becomes an income-producing instrument. From Year 2, the same tonnage that was previously a cost centre generates net positive cash flow to the County.
- Cero capex del condado en todas las fases — y el carácter del balance de los residuos se invierte. La obligación de capital del Condado de $305M–$3.47B desaparece completamente. Más fundamentalmente, el flujo de residuos se transforma: lo que era un pasivo puro generador solo de costos se convierte en un instrumento generador de ingresos. Desde el Año 2, el mismo tonelaje que antes era un centro de costos genera flujo de efectivo neto positivo al Condado.
- The WTE bid award is the irreversibility event — expected within weeks. Once a 25–40 year WTE contract is executed at $105/ton +2.5%/yr, the County forfeits ~$724M+ in Phase Initial benefit. The only action that preserves the ACM option is authorising the Community Feasibility Study before that award.
- La adjudicación WTE es el evento de irreversibilidad — prevista en semanas. Una vez ejecutado un contrato WTE de 25–40 años a $105/ton +2.5%/año, el Condado renuncia a ~$724M+ en beneficio de la Fase Inicial. La única acción que preserva la opción ACM es autorizar el Estudio de Factibilidad Comunitaria antes de esa adjudicación.
EIR INPUT BLOCK — State B Values LockedBLOQUE DE ENTRADA EIR — Valores Estado B Bloqueados
All values below are locked for EIR use. Values must match Proposal body exactly. Source types propagated.
| ParameterParámetro | State B ValueValor Estado B | Source TypeTipo de Fuente | NotesNotas |
|---|---|---|---|
| FWDC (State A) | $92.78/ton | VERIFIED | $76.12 + $16.66, DSWM Oct 2025 |
| TMC Fee Year 1Tarifa TMC Año 1 | $88.00/ton | ESTIMATED | FWDC-anchored |
| TMC Fee escalatorEscaladora de Tarifa TMC | 2.5%/year | Carbotura standard | |
| Phase Initial TPD / TPYFase Inicial TPD / TPY | 500 TPD / 182,500 TPY | Carbotura standard | |
| Phase Initial CODCOD Fase Inicial | Q2 2028 | Carbotura standard schedule | |
| Phase Medium TPD / full opsFase Media TPD / ops completas | 2,000 TPD / Q4 2029 | Carbotura standard | |
| Phase Expanded TPD / full opsFase Expandida TPD / ops completas | 6,000 TPD / Q2 2031 | Carbotura standard | |
| Royalty base rateTasa base de Regalía | 120% of Year 1 TMC Fee | Carbotura standard | |
| Royalty escalatorEscaladora de Regalía | +1pp/year | Carbotura standard | |
| Royalty payment lagRetraso en pago de Regalía | 13 months | Carbotura standard | |
| COA termPlazo del COA | 30 years | Carbotura standard | |
| Pre-royalty periodPeríodo pre-regalía | Months 1–13 after Phase Initial COD | Carbotura standard | |
| First Circular Royalty paymentPrimer pago de Regalía Circular | Q3 2029 (T0 + 37 months) | Carbotura standard | |
| Phase Initial CapEx | $305,000,000 | Carbotura standard | $75M first module + $57.5M × 4 |
| Phase Expanded CapEx | $3,467,500,000 | Carbotura standard | 60 modules total |
| Year 2 net county position/ton | +$15.40/ton | ESTIMATED | Royalty $105.60 − TMC $90.20 |
| Year 30 net county position/ton | +$32.11/ton | ESTIMATED | Royalty $189.65 − TMC $157.54 |
| WTE procurement decision window | Q1–Q2 2026 (BCC) | VERIFIED | Dec 2025 resolution; Jan 16 vote postponed |
| State A former WTE operator | Reworld (formerly Covanta Dade Renewable Energy, LLC) | VERIFIED | Facility closed Feb 12, 2023 |
| State A primary landfills | South Dade LF; WM Medley/Monarch/Okeechobee; Waste Connections JED | VERIFIED | |
| State A WWTP operator | Miami-Dade Water and Sewer Department (WASD) | VERIFIED | |
| Site P1 (ACM Priority 1) | West Dade Industrial Corridor · lat 25.82, lng −80.47 | Provisional |
Appendix A — Data BasisApéndice A — Base de Datos
Public Data Sources — All Labels Externally Readable
- DSWM Disposal Facility Fee Schedule (Oct 1, 2025) · miamidade.gov/resources/solid-waste/documents/disposal-facility-fees.pdf · FWDC derivation ($76.12 + $16.66 = $92.78/ton) · Current
- Waste Dive — "With Reworld out, Miami-Dade seeks compromise" · wastedive.com/news/miami-dade-reworld-withdraws-negotiations-proceed/808138/ · FPL $105/ton tipping fee +2.5%/yr; BCC Q1-Q2 2026 timeline · Dec 17, 2025
- Miami-Dade BCC — FPL WTE Proposal (Item Y2025/252456) · miamidade.gov/govaction/legistarfiles/Matters/Y2025/252456.pdf · Site detail; tipping fee structure; 40-year term; West Dade Nurseries parcel · 2025
- Waste Dive — "Miami-Dade mayor backs off incinerator" · wastedive.com/news/miami-dade-mayor-new-landfill-proposal-memo/738354/ · WM 2.7M TPY + Waste Connections 800K TPY contracted capacity through 2035 · Jan 27, 2025
- Carbotura standard parameters — CapEx: $75M first 100 TPD module + $57.5M each additional. Royalty: 120% base +1pp/yr. TMC escalator: 2.5%/yr. COA: 30 years. Lag: 13 months. Deployment schedule: T0 to COD 24 months.
Appendix B — Selective GlossaryApéndice B — Glosario Selectivo
Appendix B
TMC Fee — Total Manufacturing Cost Fee
Per-ton service fee paid by the County under the COA. Set at $88.00/ton Year 1 — $4.78 below the FWDC of $92.78/ton. Escalates 2.5%/year over the 30-year term.
Circular Royalty
Cash payment by Carbotura to Miami-Dade County beginning 13 months after the corresponding TMC Fee payment. Year 1 rate: 120% of TMC Fee. Escalates +1pp/year. At steady state, exceeds TMC Fee on a per-ton basis.
COA — Circular Offtake Agreement
The 30-year Build-Own-Operate service agreement. Carbotura designs, finances, builds, owns, and operates the ACM facility. County delivers feedstock at the TMC Fee. County receives Circular Royalty from Month 14.
FWDC — Full Waste Disposal Cost
$92.78/ton — Miami-Dade County's verified all-in contracted disposal cost as of October 2025. Derivation: $76.12/ton contract rate + $16.66/ton transfer fee. Source: DSWM fee schedule, effective October 1, 2025.
Gross Cost Displacement
The annual saving from paying the TMC Fee ($88.00/ton) rather than the FWDC ($92.78/ton). Gross cost displacement is $4.78/ton — equivalent to $872,350/year at Phase Initial (500 TPD). Quantified separately from Circular Royalty cash flow.
Net County Fiscal Position
The combined financial effect of (1) gross cost displacement and (2) Circular Royalty receipts. Negative in Year 1 (TMC fee, no royalty yet). Positive from Month 14 onwards. At Year 30 Phase Initial: +$32.11/ton / +$5.86M/year.
Pre-Royalty Period
Months 1–13 after the first feedstock delivery. The County pays the TMC Fee and receives $0 in Circular Royalty. Gross cost displacement applies during this period but no royalty cash flow occurs. Duration: exactly 13 months.
BOO — Build-Own-Operate
The capital structure under which Carbotura bears 100% of design, construction, and operating costs. County has zero capital exposure. BOO is the structural guarantee that no County capex is required at any deployment phase.