AMP closes on $70 million project debt financing with Galvanize

Led by future-focused capital investment firm Galvanize, AMP has closed $70 million in project debt financing. The cash infusion will support construction of a new sortation facility and an organics processing system in Portsmouth, Virginia — the next major components of AMP's 20-year partnership with the Southeastern Public Service Authority (SPSA). 

At full scale, the regional system is designed to process more than half a million tons of municipal solid waste (MSW) annually — more than 1,400 tons every day — and divert at least half of that material from landfill. 

Processing materials with precision technology 

AMP's technology provides a unique process that can transform raw MSW, including sealed trash bags. Its system uses AI-powered cameras, robotics, and pneumatic jets to identify and recover plastics, metals, fibre, and organic material that might otherwise go to landfill. 

The financing builds on more than two years of operating experience at AMP's flagship Portsmouth facility, where the company demonstrated its ability to sort MSW at commercial scale. That track record led to AMP's partnership with SPSA, signed in late 2025, and provided the operating foundation for this next phase of development. 

"We've shown that this model works at commercial scale, and this financing demonstrates that we can pair our technology with long-term project capital to accelerate deployment," said Mary Macpherson, senior vice president of finance at AMP. "Galvanize's investment is an important validation that AI-powered waste sorting has moved from novel technology to financeable infrastructure, creating a repeatable path for deploying AMP's systems with communities and waste operators across the country." 

"Waste is a massive, under-modernized infrastructure market, and AMP is changing its economics," said Suresh Vasan, partner, Credit & Capital Solutions at Galvanize. "The combination of proven AI-powered technology, long-term contracted demand, and measurable economic and environmental benefits makes this an especially compelling infrastructure investment. This financing provides a model for deploying capital at scale to help communities lower costs, extend landfill life, and recover value from material that would otherwise be discarded." 

Take a look inside AMP's 20-year partnership with the City of Portsmouth

AMP is currently equipping a second sortation facility in Portsmouth to extract recyclables and organics from MSW. The facility is expected to come online in early 2028. An adjacent facility will use indirect heating to convert the recovered organics into biochar, a stable, charcoal-like material that stores carbon for hundreds of years. The biochar will initially be used as daily landfill cover, where it can help filter leachate, reduce odors, and limit methane emissions, with potential future applications in construction and cement. Its production will generate carbon removal credits in support of AMP's agreement with Google to remove 200,000 metric tonnes of CO2e by 2030. 

Through the 20-year partnership, AMP and SPSA expect to guarantee that 20 percent of SPSA's waste is recycled — more than double the recycling rate of the region's highest-performing member community — while diverting at least half of the waste delivered to AMP's facilities. The system is also expected to extend the life of the Regional Landfill into the next century and reduce long-term waste management costs for the 1.2 million residents SPSA serves across eight member communities. 

Together, the facilities offer a replicable model for communities seeking to modernize aging waste infrastructure: combining advanced technology, long-term municipal contracts, and project capital to recover more value from the waste stream while reducing reliance on landfill.