Dallas, Texas 11/19/2013 (Financialstrend) – General Motors Company (NYSE:GM) and Detroit Renewable Energy have announced a renewable-energy project that will turn solid municipal-waste from the Metro Detroit into process steam. This steam will be utilized to cool and heat segments of General Motors Company (NYSE:GM)’s Detroit-Hamtramck assembly-plant. Once this project is fully operational, 58% of the energy used by the plant of the will be sourced from renewable energy. This will make Detroit-Hamtramck the top General Motors Company (NYSE:GM) facility in the world in terms of the percentage of renewable-energy used.
The global manager for General Motors Company (NYSE:GM)’s renewable energy, Rob Threlkeld said that the company has 107 landfill-free facilities across the world that either reuse or recycle their waste and some of it is turned into energy. He said that exploring this option made sense and DRE at Detroit-Hamtramck was the preferred choice, taking into consideration the quality work they have provided the company with energy use at some of their other plants. Detroit Renewable can process above 1m tons of municipal-waste into steam and electrical power even as they recycle almost 40,000 tons of metal on an annual basis.
In Monday’s trading session, General Motors Company (NYSE:GM) dropped by 0.52%. The shares opened at a price of $38.81, which touched the intraday high of $39.18 and headed to a close of $38.57. Around 16.79 million exchanged hands over the trading day and an average volume of 10.52 million shares were traded over a 30 day period. The 52-week low of General Motors Company (NYSE:GM) shares is $23.39 and its 52-week high is $30.18. The company has a market capitalization of $53.57 billion.
About the company
General Motors Company (NYSE:GM) is engaged in designing, building & selling cars, trucks & automobiles parts internationally. It also provides automotive-financing services via General Motors Financial Company.