Ottawa businessman Rod Bryden has taken another step back from Plasco, the waste-to-energy company he helped found about a decade ago.
The company announced in November that he was stepping down as the CEO of the company but would stay on as the executive chairman.
However he is now done with that role as well after stepping down from the position this week.
Plasco has spent the past several years looking for financing to support its plasma gasification technology.
It signed a deal in 2012 to provide the service to the City of Ottawa. However it has since had to request several extensions from city councillors as it tried to secure the proper financing.
The most recent extension was granted in August 2013, which means the company now has until Dec. 31 of this year to raise the necessary money.
Plasco intends to have the facility operating by March of 2016.
Mr. Bryden’s replacement is Raymond Floyd, who took over as president and CEO of the firm in November.
"Today, Plasco is well positioned to benefit from a rapidly growing worldwide market for waste-to-energy conversion," said Mr. Bryden in a press release issued at the time.