Covanta Energy Corporation owns and operates worldwide over 40 new generation incinerators often referred to in industry publications as waste-to-energy power generation plants. It is a subsidiary of Covanta Holding Corporation which is located in Morristown New Jersey. The corporation is international but exists predominantly in the United States. In 2004 Danielson Holding Corporation acquired Covanta for $30 million following the latter's filing of a Chapter 11 bankruptcy in April 2003.