Maximizing Property Value/Brownfields Redevelopment

TerraTherm is part of a consortium that specializes in the redevelopment of Brownfield properties.  This team will:

• Participate as an equity partner in real estate redevelopment projects.
• Invest capital into projects.
• Provide project financing.
• Provide specialty legal expertise in redevelopment projects.
• Write insurance products, including, Remediation Cost Cap (RCC), Pollution Liability and Blended Programs.

How can TerraTherm derive the highest Brownfields property redevelopment value? We will:

• Provide proven solutions on a guaranteed fixed price remediation (GFPR) basis.
• Ensure that property becomes an asset on the balance sheet rather than a liability with large cleanup costs.  A typical property value increase might be 1 time (X) if cleaned to industrial standards, 2X if cleaned to commercial standards, but as high as 150X if cleaned to residential standards.
• Implement fast track cleanups to achieve environmental closure in a timeframe consistent with real estate transactions.  Our remediation projects typically include:
  • A family of thermal site remediation technologies that were developed and patented by Shell Oil Company in the early 1980's.
  • Cost-effective applications of Low, Moderate and/or High-Level soil heating applications
  • Elimination of contaminants on-site, in-place.  No digging and hauling or chasing of residual contamination is needed.
  • A consistent record of meeting stringent remedial goals at over 20 sites, including; chlorinated solvents, manufactured gas plant waste, creosote, petroleum hydrocarbons, coal tar, pesticides, and PCBs.

How can TerraTherm Provide Risk Reduction and Risk Elimination? By providing:

• Guaranteed achievement of low numerical cleanup goals (GFPR).
• Aggressive source zone remediation that eliminates the liability associated with contamination.  Other remediation techniques such as off-site disposal merely move the associated liability to another location.  For example, many disposal facilities that accepted waste for disposal or treatment later became contaminated by the chemicals in the waste and became hazardous waste sites in their own right.  All parties that sent waste to that facility then became responsible for the remediation of a new hazardous waste site.  Many examples of this scenario can be found in the literature.
• Reduction of potential off-site impacts.  Merely capping contamination in place may be a cheaper alternative in the short term, however, this approach results in long term liability associated with the contaminated property. In some documented cases the waste has later impacted indoor air quality (through vapor intrusion), leached into groundwater, moved offsite, and/or impacted adjacent land owners (or it can be alleged to have impacted abutters). These issues result in long term risk for the responsible parties and the need for restricting the property to a use value, i.e., industrial. Complete clean up results in the highest possible land use value, i.e., residential housing.
• Reduction in Sarbanes-Oxley Act reporting requirements.  The provisions of  this Act require companies to identify and measure environmental liabilities, disclose liabilities, and for CEO's to personally certify accuracy of the reported liabilities.

How does the cost of ISTD compare to conventional in-situ methods?

• Recent research compares the cost of ISTD against conventional soil vapor extraction (SVE) and demonstrates that ISTD is less expensive on a Net Present Value (NPV) basis than SVE.  The study shows that the energy cost associated with ISTD is lower than that for SVE over the term of the annual operations and maintenance program (O&M) when considering a time frame for SVE of just 5 or 10 years.  What if the SVE system can never be turned off?  Ask us for the papers!

TerraTherm's people are the trusted experts in using Thermal Remediation, because:

• We have performed more thermal projects than any other group. (refer to Consulting Services for more information)
• We know the environmental business, as former consultants, equipment manufacturers, researchers, EPA employees and Licensed Site Professionals (LSPA).
• We are able to provide testimonials from clients, regulators, and partners who can attest to our performance history such as:
  • Shell Oil Company executives
  • Consultants such as Geomatrix, Brown and Caldwell, Shaw, ERM
  • Richmond Redevelopment Agency, RRA 
  • Insurance Companies
  • Regulators from MA, CA, EPA 
  • Utility Companies
  • Industrial Companies