Hazardous waste recycling specialist Wastecare has bought the East Kent High Temperature Incinerator from Augean for £3.35m.
Leeds-headquartered Wastecare will take on the Sandwich facility immediately, making final cash payments within three months.
Compliance consultancy and waste treatment firm Augean warned before Christmas that it planned to mothball the incinerator, which was loss-making in both 2017 and 2018.
Augean said the sale saved it about £600,000 in closure costs as well as raising revenue.
The company initially bought a range of assets and land at the East Kent Waste Recovery Facility at Discovery Park in Sandwich five years ago for less than £2m.
The company already held a 10-year lease – taken on in 2012 – to operate the site’s high-temperature incinerator, which it said was expected to provide capacity to process 10,000 tonnes a year of waste.
December’s resources and waste strategy threatened the introduction of a tax on the incineration of waste if the Government’s “wider policy objectives” failed to boost recycling rates.
Council chiefs this week hit back saying they “strongly believe the case for an incineration tax cannot be justified”.
Both Augean and Wastecare have been contacted for comment on the sale.