The company announced that it has been awarded preferred bidder status to work on Waltham Forest Councils (WFC) integrated waste and recycling contract.
Worth nearly £6 million per annum, the award for the five year deal follows an open and transparent tender process. It is expected to start in April 2007.
WFC cabinet member for the environment councillor Bob Belam said: Were very happy from an environmental perspective. In terms of recycling, Verdant has provided plans for achieving a 33% recycling rate in the short term and a 50% recycling rate in the longer term.
This will help the council avoid future landfill tax that could be around £3 million by 2010, a sum which obviously would have had a very negative impact on WFCs finances and borough residents.
Verdant beat off strong competition from rival submissions and ranked first in terms of quality and financial evaluation, while community engagement and partnership with the council formed a strong thread throughout its submission.
Verdant managing director Simon Miles said: The exciting news about Waltham Forests waste and recycling contract rounds off what has been an excellent period for Verdant and, significantly, represents our first local authority customer in the greater London area.
In the last few months, the company has secured significant waste, cleansing and recycling contracts with Swale, South Bedfordshire and Rother councils.