The founder of Plasco Energy Group, which promises to turn Ottawa's garbage into electricity, is leaving the company.

Rod Bryden founded the waste-to-energy company in 2005.


Rod Bryden is the founder of Plasco Energy Group. (CBC)

Plasco has a contract with the City of Ottawa worth about $9 million a year.

It has missed two deadlines to get financing together to build a large waste-processing plant on Trim Road.

The company received an extension at the end of August and now has until December 2014 to secure funding.

Ray Floyd replaced Bryden as Plasco CEO in November.

Bryden was the owner of the Ottawa Senators from 1992 until 2003. He turns 73 in March